 | NFT’s have solidified their place in the cryptocurrency industry as evidenced by its overall accumulation of wealth locked into them. Its also worth taking into account the rate of which people are acquiring them. One problem that this niche of the industry has faced is the race to attain them, which leaves others with a fair/unfair advantage. Often times users are just in the right place at the right time which allows them a first come first serve basis as to who is able to purchase these valuable NFTs. A new project called NFTLootbox.com looks to solve this problem with an interesting solution which creates an equally opportunistic environment. NFTLootbox.com (LOOT, Contract address: 0x7b3D36Eb606f873A75A6aB68f8c999848B04F935) is an ERC20 Token which aims to bring fairness in NFT distribution and acquisition. A holder can stake LOOT Tokens which in turn generates Coins. Coins can be used to obtain and open Loot Boxes which contain NFTs. These boxes contain NFTs that are created by various artists and enthusiasts. NFTs have various use cases and have proven to be a legitimate solution to asset ownership/transfer in the digital age. With the ability to obtain a digital ledger which provides its user with actual ownership based on encryption, someone can own a protected copy of fine art, property, records, and other forms of assets. This brings value in a variety of ways. With LOOT, you might be able to obtain ownership of the next viral meme or digital art work. One NFT series from a digital artist recently sold for over $200,000. While NFTs are paving the way for an entirely new and lucrative sector of the cryptocurrency space, many of those who would like to obtain these valuable NFTs are unable to get the same equal chance as the next person hunting for them. LOOT solves this problem by allowing its NFTs to be farmed by users staking their LOOT to earn Coins. Coins are exchanged for Loot Boxes which contain NFTs, which gives everyone staking LOOT to obtain Coins an equal chance to obtain that NFT. This level of fairness is not usually seen in the NFT niche and this adds a solid layer of equality. NFTLootBox’s distribution model is as follows:
The project has also developed a roadmap for your convenience. November 2020:
December 2020
January 2021
February 2021
As the NFT market grows, users will be likely to snatch up and own the most popular and rare NFTs. The NFTs generated by the artists utilizing LOOT will be able to give its users equal access to its NFTs which should drive more artists and NFT enthusiasts to this economy. Many users just want the same equal opportunity as the next person to own an NFT of their liking, and LOOT looks to deliver a solution to this glaring need. Pertinent Links:
(I write articles, reviews, and Litepapers for legitimate, interesting, up and coming cryptocurrency projects. Feel free to PM me to review your project. Thank you!) Disclaimer: This is not financial advice. The sole purpose of this post/article is to provide and create and informative and educated discussion regarding the project in question. Invest at your own risk. [link] [comments] |
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