Gamification is the new fad in the crypto world. It has exploded lately due to the technical leverage of NFTs where they drive commercialization of everything within the game environment, even players’ own playing avatars. However, most of the gaming environments are predefined, and almost all NFTs work as per a given standard as enshrined in their smart contract.
-----Cryptonews AD----->>>
Sign up for a Bybit account and claim exclusive rewards from the Bybit referral program! Plus, claim up to 6,045 USDT bonus at . https://www.bybit.com/invite?ref=PAR8BE
<<<-----Cryptonews AD-----
For example, if you mined a sword NFT, it could give you the power to fight in a game environment. Likewise, the skin may protect you within the game environment against adversaries. Hence, limiting their use-cases to a single direction only, which is at the mercy of the developers and the company launching such games. But what if you get to mint an NFT where you have full discretion over its use-cases. Is it possible at the moment? Well, it indeed is through the Loot protocol.
What is the Loot Protocol?
Loot is an RPG or Role-Play Game-styled NFT project which functions through 8,000 rare RPG NFTs, which are adventure equipment that you can use for performing a wide variety of activities within the game environment. The project was launched by Dom Hofmann, who is the co-founder of the social media platform Vine. The upside of Loot protocol is the open functionality of the NFT, which makes it a completely different NFT project in the crypto space. To understand in a nutshell open functionality, the user who has minted the NFT in the Loot bag can decide its functionality and everyone else within the Loot ecosystem will have to follow that. In this way, these rare 8,000 NFT’s usability varies based on the user’s/ minters creative thinking.
How Loot NFTs Derive Value Within the Game Ecosystem?
Loot’s NFTs work on the basis of rarity. Meaning, the user has full control over how they wish to establish the utility of the minted NFT. Since within the Loot ecosystem, the user has to only pay the gas fees to mint any new NFT, they can think of numerous ways to make them rare and if they think it will not work, it is possible to replace that NFT with another with a new concept. Since most of the items occur within the Loot bag for a specific time period, the upside of the NFT increases as everyone wants to own them and build additional usability on top of its erstwhile use-cases. Thus making the ecosystem highly dynamic in terms of innovating NFTs and making the gameplay environment always evolutionary.
Why is Loot’s Airdrop Trending Over the Internet?
Loot’s NFT has been trending lately all over the Internet because it could potentially make every Loot NFT holder super-rich. The reason for it is a DeFi project Adventure Gold’s fascination for the Loot NFTs. In their latest announcement, the protocol announced that for each Loot NFT, the AGLD protocol will give 1,000 AGLD tokens. Each AGLD token is priced at $1.42. If you do the math, for one Loot NFT, you could potentially get 1,000 AGLD tokens, which will help you earn $1,420. Hence, it is justifiable why AGLD has been included in the list of top 200 cryptocurrencies following this announcement and why people are turning crazy for the Loot NFTs.
How To Claim Loot NFT Airdrop?
Step By Step Process to claim Loot Airdrop
Step 1
Click on Loot NFT Give away-page
Step 2
Submit all details and sign up for the airdrop
Step 3
Users need to do small tasks on social media to end up eligible for Loot airdrops.
Step 4
100 participants are selected who would get the Loot BUN NFTs. Users can join Loot’s telegram channel for further updates.
After receiving the airdrop, make sure that you have stored them in a trusted hardware wallet for security and use in the near future.
The post Why LOOT Dominated NFT Airdrops and how to Claim LOOT? appeared first on CryptoTicker.
Why LOOT Dominated NFT Airdrops and how to Claim LOOT?
Don’t miss a thing, sign up for our newsletter
