All you need to know about Loot NFT, in 2-min

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All you need to know about Loot NFT, in 2-min

All you need to know about Loot NFT, in 2-min

[Music]one of the big four nfds lootloot has started a whirlwind in the nftcommunity a bag of words can be tradedas high as945.6 kso what is loot loot is a projectconsisting of 8 000 nfts full of wordsthat are described by founder domhoffman as one randomized adventurergeartwo no images or stats intentionallyomitted for others to interpretfree no minting costs for each loot nftjust gas feefour a thousand bags total to simplifythe concept loot allows users to spendmoney to create a unique list of itemscalled bags that they could keep in thesame wallet where they keepcryptocurrencies or other digitalcollectibles these bags consist ofgame-like words such as a short sword ordivine robe of the foxwaterloo bagsloot bags are these randomly generatedlists of items each of the eight itemswithin a given loop bag has smartcontract readable parameters on top ofthat each of the eight items has its ownrarity within the broader loot universewhich raises the value of bags toextreme heights[Music]loot mart lootmart is a project thatallows loot holders to unbundle theirloot bag in the individual nft to swapitems with other loot holders completewith ai generated images of individualitemsdom hoffman hoffman is best known as theco-creator of vine which helped toestablish the short-form video format onmobile devices and became an incredibleengine of meme culture along the wayhe created this random item generatorand remains the biggest shareholder inthe projectdue to the decentralized nature of loothe’s not sure he could truly steer thecommunityi’m out leading the project he said i’mproviding guidance when wantedwhy luke people appear to be excitedabout loot not because of what the nftare but what they could bethese nft were released into the wildand left to the interpretation of anyonewho found them interestinganyone can build something using lootnft as a foundationin less than a week a community has gonefrom lists of text to infinitely manyillustrations of those items to worldsfor those items to reside in andcharacters to wield them all from takingsimple primitives and generating contextaround them that gives them value[Music]you

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