Loot and Loot-derivative NFT projects are growing incredibly fast right now. We now have Loot, mLoot, Bloot, FPS Loot, Sloot, Gear and many more. In this video I explain what these are and whether they’re overhyped or not.
Let’s look at Loot itself, the original project. These were sold for free (just had to pay for gas) and they’re simple text files with a list of items in a high fantasy setting. A big part of why these sold out so fast and why people became so excited initially was because they were released by Dom Hoffman, the founder of Vine and also a creator behind huge web 3 projects like Blitmaps and Nouns. The guy just knows how to make valuable projects.
But the other reason why people are excited is because Loot represents a new development in NFT collectibles, gaming and even the metaverse. That’s because Loot basically acts as a base layer for others to build upon, and this makes it bottom-up, decentralized world building as opposed to all other NFT projects, like bored ape yacht club, cool cats, on1 force, pudgy penguins, etc., where there is a centralized team delivering top-down world building.
On September 4th Dom also released mLoot, which greatly expanded the cap of the NFTs in the collection to 1.3 million in order to let basically anyone “play” and build on top of the network. As a result the current price point is less than .01 eth and you can almost think of this as being an early buyer into a project that is a cross between an L1 protocol (where people build and you hope for network effects) and a traditional NFT collection (where you have a unique NFT that can play a role in the lore of the game world). Whether this works or not depends on the builders, but I bought into mLoot because I’m happy to take a chance and I’m excited to see what comes out of this.
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you can still mint mLoot, more info here: https://twitter.com/dhof/status/1434180216444923923
0:00 intro
0:48 what is loot?
1:30 the thing about the Loot founder
2:12 how Loot changes NFTs
3:27 Loot value stack
3:55 Loot is like ethereum?
4:34 the problems with OG Loot
6:05 why “More Loot” is HUGE
7:04 mLoot value stack
8:20 wen moon??
9:02 BLOOT
9:48 are these overhyped?
