Looking to buy Loot For Adventurers NFT Drop? Is that available at Opensea? Find all details about the Loot NFT project here. Loot is a digital adventurer gear generated randomly and registered on the Ethereum blockchain. Loot NFT appears even for the strange world of crypto tokens.
A CoinDesk article calls Loot NFT the simplest, yet the strangest, NFT to catch the imagination of crypto investors. And how has it caught on! Darren Lau of digital investment advisor Not3Lau Capital told CoinDesk the project’s simplicity has inspired and galvanized the Web 3 community.
This article introduces you to the token that is the latest rage among crypto-cravers. By the time you finish reading this, you would be rushing to your favourite marketplace to grab your first Loot for Adventurers NFT.
Loot for Adventurers : What is the Loot NFT Project All About?
Dom Hofmann, who was one of the launchers of the social media app Vine, developed the text-based, simplistic Loot for Adventurers project. Hofmann says the Loot NFTs that generated $54.8 million in sales since the launch on August 25 on the OpenSea marketplace is “randomized adventurer gear” created and stored on-chain.
The consensus is that the gear will be for use in a future community-driven fantasy game. The low-key announcement was made on Twitter and the author has since kept the information flow to a minimum. The subdued introduction of the project in an age of loud, big bang entries, was strange enough.
Even more eerie was its front end appearing as mere text strings. It did not present an interactive front and the only way to generate it was to engage in a mining contract. Hofmann himself called the project a weird experiment and made the drop entirely free with the claimants allowed to acquire the token at only the gas cost.
Despite the low-key drop, the Loot ‘bags’ got claimed within four hours of the launch. Each loot bag has eight wearables: A chest piece of an adventurer, hand, foot, neck, head, waist, ring, and weapon. The unaudited project’s Bags #1 to #7777 could be claimed by anyone while #7778 to #8000 have been earmarked for the contract’s deployer.
Loot for Adventurers gives a blank space for the community to build on. Artists are free to create characters based on someone’s bag and game writers can use the information about the characters to create different versions. The data stored on-chain can be used to create the front end. Somebody posted on Lootcharacter.com a pixelated character based on the on-chain information.
Loot (For Adventurers) Sales Statistics
Since launch, Loot for Adventurers NFTs have been sold 6,755 times in the last seven days that ended at 10:44 UTC on Friday, Sept 3, 2021, registering sales volume of $138.7M at the average price of $20,500. The Loot NFTs have 2,400 owners and the floor price has risen to 19.95 ETH.
A DappRadar report says Loot (for Adventurers) has seen premium sales with a resale of Bag #119 at 29 ETH or $102,000 on Wednesday. The Loot Project has achieved a sales volume of $26.54 million in the past seven days to overtake Axie Infinity’s $19.59 million and Art Blocks $16.20 million. Mutant Ape Yacht Club with $14.341 million and Bored Ape Yacht Club with $9.945 million was trailing far behind Loot.
Also, see our article on the Sevens NFT Collectibles here.
How To Buy/Where To Buy Loot (For Adventurers) NFT
Following the low-key launch and frenzied grab of the free tokens, Loot’s resale prices have been zooming like there is no tomorrow. All the 7,777 Loot bags available for the investors, in general, have been gobbled up and they can be bought only on resale offers on OpenSea or EtherScan.
The first thing for effecting a purchase transaction is to create an ETH wallet account with a wallet provider linked to the marketplace like MetaMask, Coinbase Wallet, or WallETH.
Also see: Copyrights To Fakes: The Challenges With NFTs
Conclusion: To Buy Or Not
Remarkably, Hofmann has made an almost strange confession that he is unable to predict the utility of the NFTs he has created and released into the crypto jungle. Some see the beginning of an open-source fantasy metaverse while others, including Hofmann, worry the sky-high prices could signal an unsustainable NFT bubble.
However, the rarity of the NFT is ensured by limiting it to 8,000 bags. Yet, the bags can be unbundled and the contents used to mix and match to create new bags. As there are eight wearables in each bag, the number of wearables in circulation would be 64,000. It is yet not clear if each wearable can be traded independently.
Even that may be possible sometime in future as the author has dropped only the codes and not be the visual interface. It is up to the owners to mint them into interactive shapes. Hofmann has left it all to the community that is growing by the second to decide the future of his NFTs. If the situation doesn’t border on the crazy, it is still strange, but in a curiously affable way.
Prathapan Bhaskaran is an avid investor in the crypto market and writes on cryptos, NFTs, financial markets, green business, and commodities. He has worked in several international news organizations in the Middle East and India.