It allows Lootizens to manage plots of lands that they own within Lootverse and administer rights, earnings, and rewards.
James Duchenne, Loot NFT Co-Founder, and CEO, “The Fund is the fantasy financial management portal of Lootverse; it is similar to a real estate fund where members manage NFT plots of land rewards. Just like everything in Lootverse, it is built like a real fund and in the future may be capable of being white-labeled for real-world uses. The way The Fund extends the capabilities of NFTs is novel, and the team is excited to be breaking new ground in the blockchain, crypto, NFT, and Metaverse fields”.
Lootverse is an alternate universe that features 4,880 plots waiting to be discovered and claimed. In other words, it is a Monopoly-like world that is powered by NFTs. Just like in the popular board game, Lootizens manage the real estate to remain financially solvent. Instead of being limited to a certain number of players and rolls of dice, Lootverse participants can make strategic plans and decisions through the Fund.
The Fund aims to push the boundaries of the metaverse by offering a fantasy financial management portal. Here, plot owners, Lootverse protagonists, can manage land, engage visitors, and mint NFTs. In the future, the Fund will be used for real-world use cases like land title, financial services, and more.
The Fund serves as a dashboard for Lootizens to easily access and manage information about the plots of land that they own. The platform allows users to see where their plot of land is located within Lootverse, and find title details such as coastline, borders, and many more. Plot owners can also apply their creativity in generating stories that describe the events taking place on their land. Likewise, they are able to mint revenue-bearing NFTs that can be valued and traded frictionlessly.
In order to purchase a piece of land, Lootizens should enter a recently launched exclusive store, Satoshi’s Lounge. This unique e-commerce store offers a new shopping experience within the virtual world. Currently, users can purchase plots of land, but it will also feature limited-edition and one-of-a-kind items in the near future.
Essentially, the Fund offers the plot owners an opportunity to manage their land and optimize their earning capability accordingly. Depending on the zoning of the plot, Lootizens may be eligible to receive some revenue over time. This revenue is paid in Credits that can be used to buy BUN and LTT (Loot Tickets, Lootverse native currency), or potentially swapped for USDC (ERC20).
About Loot NFT
Loot Arena is a gamified auction platform, where members are able to bid in a “Battle Bidding” auction environment for NFTs. All participating members in the arena mine Loot Tickets (LTT) using bid units (BUN), a token that has a limited supply of 500 million. Each NFT embodies a one-of-one unique creation (digital or digital and physical), and grants ownership to the member that wins it at auction.
Loot NFT also aims to turn the NFT space more inclusive and diverse, giving access to creators and members to original NFT collectibles and an amazing world designed to leverage the metaverse to an enhanced alternative reality.
Loot NFT’s adventure-themed world has 4,880 plots and allows plot owners to tell the story of their land by minting up to 4 NFTs on each plot, while also sharing in the revenue from the entire ecosystem. Owners may purchase from this metaverse using their LTT in Loot NFT’s auction environment called Satoshi’s Lounge.
Loot NFT uses a bi-directional bridge between its permissioned-blockchain and public blockchains to decentralize the modules of its ecosystem towards a decentralized autonomous organization. For more information, visit the website.