Loot – A BTC Peer NFT Social Experience
Loot – An NFT Social Experiment
NFT has given a whole new meaning to the art industry. Part of its potential is rooted in an old dispute between Mikhail Bakunin and Frederick Engels, dating back to the end of the 19th century. The artwork reflects the sentiment of any historical period, as current frustration and despair can usher in the Co-operative Renaissance with the help of NFT.
From conflict comes chaos and evolution
Going through the history of the company, it is evident that the most important changes always occur after the outbreak of a form of conflict. Be it ideological, political, military or otherwise, change will only occur in conflict and the chaos that will ensue. The dispute between Bakunin and Engels is one example. Even in the 19th century, the concept of autonomous organizations to replace state and capital was a subject of tangible debate. Unfortunately, it was not possible to achieve this goal, but thanks to technological advancements things are very different today.
Out of all this turmoil and chaos, new ideas and concepts will sprout. Unfortunately, for millennials and Zoomers, the current landscape of the Global South offers very little hope. The technology and blockchain games up for grabs provide some relief, but it’s not the ‘final form’. The feeling created from this distorted balance is reflected in the NFT artwork we see today, as these creations have a much bigger story.
NFTs need a Renaissance era
Similar to traditional art, NFT must reach its Renaissance moment. Despite the success of some dystopian and nihilistic NFT projects – Bored Ape Yacht Club or Cyberpunks are good examples – they fail to deliver long-term tangibility. Salvation for NFTs will come from a very different angle. Through advancements in technology, DAOs, decentralized networks, hard money, and co-ops, Loot aims to usher in that ânext momentâ for the NFT industry.
It’s safe to say that Loot – and its derivatives – are a different breed of NFT projects. Rather than opting for the proven artistic model, the teams introduce a primitive approach. Plus, it empowers the community in ways never before explored. Loot is rudimentary information that leaves everything to the imagination of the owners.
Loot appears to have the potential to become the “new primitive”. It shows the potential of what DFTs could and maybe should be. Rather than focusing on the monetary aspect, it is essential to trigger excitement, wonder and big dreams. While Loot may not resolve the level of global pessimism that keeps the company in its grip, he is planting a seed of cautious optimism in this space.
But, what is the fact?
Loot as a social experience
- 1. Autonomy turns into speculation
Any decentralized product, organization, and business model needs a core soul or team first, and later it can expand in a broader sense when it is relatively stable. For example,,, and Linux all have core developers who have built a solid foundation and open source community management paradigm. The current Loot participants are more speculators than creators and developers. Loot has become a speculative tool for its users.
- 2. Chance restricts the possibility
A fun game requires an organic balance of numerical value, randomness, and strategy. Whereas Loot is just text based with no difference in the value entered, but total randomness. This low barrier design mechanism has already triggered many cheap copies.
Additionally, Loot defines 8 attributes of each character. While these attributes seem like they can create a wide range of imagination, there are plenty of user-generated images. The overview is in fact restricted. You can only have attributes given to you, The content saved in Loot is text only, which means what you saved cannot be changed. If you have a hat, you can only have one hat and cannot change into a necklace.
- 3. Lack of aesthetic consensus
Loot only represents text and doesn’t create a truly visual image. As we all know, ETH based NFT usually requires scarcity. And rarity is not only distinguished by artificial textual attributes, but also includes aesthetics, emotion, and other abstract factors. For example, Crypto Punk players are more inclined to look for avatars that look like them, Cool Cats lovers like the cute character. In contrast, Loot’s rarity seems to lack specialty and aesthetic consensus.
How can StarryNift improve
- 1. Stable operation before full opening
Compared to Loot’s completely decentralized form, StarryNift chooses to lay a solid foundation first, establish a standard aesthetic style, ensure safe and efficient technology implementation, create playable games, deliver to users various game scenes and apply a sustainable business model. After that, StarryNift will open up to more possibilities.
The StarryNift team will first launch a gamefi planet that includes games like character cultivation, treasure hunting, and battle. Once the community reaches a certain level of activity, other scenarios will open up. After a more stable NFT price discovery mechanism and rating system is put in place, StarryNift will welcome more users into the metaverse.
Due to price fluctuations, Loot inevitably has a lot of speculative users. StarryNift strives to create a multidimensional space including creation, interaction, games, entertainment, commerce, etc., to allow users to have the will and channels to profit. By giving NFT a longer term value and gradually releasing the play scenario to earn NFT, users cannot quickly sell NFTs in the secondary market. StarryNift will create various scenarios such as online performance of NFT virtual idols, NFT treasure hunt in virtual museum, upgrading NFT cards in battles, forming a guild to win in the game, obtaining economic shares thanks to NFT airdrops, etc. All of these scenarios can be exciting for users. And if users want to take advantage of more possibilities, such as increasing the rarity of NFT, raising rarer babies, then they have to burn tokens. Thus, StarryNift can achieve a closed loop of increasing the price of virtual assets in a healthy inflation model.
- 3. Effective technical standards
StarryNift deployed multiple public channels to create different products for different ecologies and provided cross-chain bridges that users can apply. By adopting ERC-1155 protocol, StarryNift can get the latest data efficiently and quickly combine with other data to achieve aggregation. Through cooperation with BOBA to explore NFT transfer between Layer 1 and Layer 2, a significant reduction in gas costs can be achieved.
Loot is an interesting social experience. This is incredibly important in making NFT a huge topic in the mainstream.
For StarryNift, a more promising approach is to use blockchain data to make NFT no longer a set of static labels or a speculation tool like Loot, but to make NFTs full of life and a bright future. StarryNift wishes that NFT holders could not only enter the Metaverse but also grow with the Metaverse, meeting other NFT believers in a better world.
Written by StarryNift co-founder, Martha Zhang.
Twitter (NYSE :): https://twitter.com/StarryNift
Continue reading on BTC Peers