don't but I think it's a really interesting project and I'll give folks just like a quick overview
of what it is. But basically
this this was released by Dom who has I believe the founder of Vine which was kind of like a short video Network that was around for a while. And Lou, yeah, I think there are eight thousand in total and they were basically given away for free and if you look at the loot nft any lewd nft, it's like a series of eight. Like then they basically read like RPG items and so they'll be like Divine Hood, hard leather armor, hard, leather belt and if you've ever played an RPG, you kind of have a feeling for what I'm talking about. And there's nothing else that's necessarily provided with, it's okay. It's just those words, right? The metadata associated with that. And so the real question is like, so, and I'm basically said, look this, we're just putting this out there into the community. Now, if people want to go to develop something on top of, it could do that. So some people have talked about this as the Wi-Fi or the urine, which some people from defy summer. A year ago. Remember was a token that all that was basically given away to people who are farming it in a similar way. Some people are talking about this as the Wi-Fi of NF T's so my general thought on Concepts like this is there definitely. We interesting. I think the idea of being able to seed a composable nft community where you're taking, where your fear of game designer. You're taking nft. Is that already exists perhaps for different purposes and you're integrating them into your game and you're fighting those people to join your community. That's pretty interesting to me. However, I think as it's important to remember with any project like this where a, in this case. I respect that the lutein Dom is not promising anything. He's just like we're putting it out there. But really the value of the future value of this is going to be based on what people build around. So, whenever I see that, I always ask myself. Well, what is the incentive for future developers to build on this? How can it be extended so that more people can participate and what is the long-term viability of it? So, I think there's a lot of interesting proposals for stuff that's could be built on Loop, but I want to see it kind of an operation personally. Yeah, it speaks to
this phenomenon of kind of this Bottoms Up development process. Something like this is just a general overarching framework. And now they're saying, okay, teams rally around it, use the the structure and extend it and new and interesting ways. And there's already been, you know, are drops of, you know, coins on top of loot. So what was the loot currency called? Like in that one telling like, Adventures go like this was called exactly which for each person was worth quite a bit of money, though. If they were holding one of these original loot tokens, you receive some of that aventures gold. I was instantly tradable. I believe FDX started trading it and there was a had a pretty decent market cap when it first started trading. But that goal was supposedly, was to be used in some type of game that's developed eventually or to incentivize teams to develop games around this. So it'll be interesting to see if the mass is can come together in coordinate. Something that is a real playable fun thing. Like what gets built on top of this and does that work. Work. Because I would say there's something about the game development model, when you're an EA, or when you're a big game Studio or even independent game Studio. You have the focus, the drive the dates, you need to hit the resources that you need to go and develop something very special. I don't know that you can coordinate such an effort across, you know, random volunteers. I just have never seen it done. What are your thoughts there? I
think, I think I agree with you pretty strongly in that in the sense of You know, it's definitely an interesting idea, but there are coordination problems here that are difficult to solve. And I would say the distribution of the 8,000, loot bags isn't exactly ideal. We've already seen a bunch of funds pile into this and presumably they're interested in participating to speculate not necessarily to play the game. And so yeah. And there have been other things. Like, I believe, Dom had issued a spec for how any wallet could be used to generate a non-transferable loop bag based on basically. The, the public key of that wallet. So I think ideas like that are interesting, but the end of the day, it is about the ownership of these items and being able to transfer them. That's what makes web three interesting. And so right now this is at 8,000. I just if we can see a couple of successful products and games can get traction on it. Then I'll be a lot more interested in this long-term. But for now it's not something that necessarily like buying into. But I mean, that's okay. There's a lot of things in the space. I think are interesting that I don't necessarily take positions in. Yeah. It's I
purchased one. I got one with the Divine robe which is the Divine robes are one of this, the more scarce kind of attributes that you can find out there just because I heard there was a Discord community of just Divine robe members. And so I was like, what's that about some secret? And so I went in and I offed my wallet just so I could get into the secret Discord of divine robe members. And, you know, it was cool. I mean there's a lot of people in there that are old-school d and e which I include myself in that group. I was a pen and paper D&D. And they're talking about designs and what could be done with it and it was, it was it was a pretty fun little Community to pop in and out of. But yeah, I'm just I'm just kind of sitting on the sidelines
Kevin & Aftab Discuss the Loot NFT Project: The WiFi of NFTs?
MoFi Consensus Keeping NFT assets safe, Frontrunning Opensea Insider Information, Snoop Dogg: I am @CozomoMedici, and Arbitrum. - Aftab Hossain