Author: Zen, PANews
Recently, aside from meme tokens that remain market focal points and DeSci emerging as a new trendy hotspot, most other sectors have shown lukewarm performance, with Web3 games, which have long been devoid of wealth effects, becoming one of the worst-performing assets in recent times, as newly issued tokens saw their valuations plummet. However, the Open Loot platform token OL, which surged immediately after its listing on OKX, stands as an exception.
According to OKX market data and CoinMarketCap, OL surged immediately after its listing on the exchange on November 19 at 9 PM, with trading volume exceeding $130 million in the first two hours, and the price skyrocketing from $0.0677 to $0.118, nearly doubling. Subsequently, OL reached a high of $0.16 over the next two days. As of 2 PM on November 22, the OL price had adjusted to around $0.107, with a circulating market cap of about $128 million and an FDV of $530 million.
Built by the core team of Big Time
Open Loot is a Web3 game distribution platform and marketplace dedicated to providing infrastructure support for mid-core to hardcore games, addressing common pain points in blockchain gaming such as usability, scalability, and compliance. Currently, Open Loot primarily manages the infrastructure, sale, and rental of crypto and non-crypto items for the AAA MMORPG chain game Big Time. According to official data, over the past year, the platform has facilitated more than 2.7 million transactions, with a total trading volume exceeding $32 million.
In fact, the Open Loot platform is essentially led and built by the core team of Big Time Studios, and the studio's personnel configuration is considered luxurious in the Web3 gaming industry. Its core development team consists of members from major gaming companies like EA and Tencent, as well as well-known game projects such as Fortnite, Call of Duty, and League of Legends, bringing extensive production experience. Founder Ari Meilich is also a co-founder of the metaverse platform Decentraland.
For players, the smoothness of the gaming experience is one of the crucial factors, and the complexity of Web3 integration often affects the overall experience. Open Loot aims to eliminate typical barriers present in Web3 games, including connecting crypto wallets, paying gas fees, or waiting for transaction settlements. Through its patented Vault technology, players can buy and sell Open Loot NFTs without paying high gas fees while retaining the flexibility to mint them onto the blockchain. Additionally, Open Loot's NFT marketplace is also designed specifically for Web3 games, offering features such as NFT rentals, a non-crypto in-game currency market, and a comprehensive history of NFT prices and activities.
With Open Loot providing technical and market support to Big Time, the platform can offer developers and partners substantial resource support. On one hand, Open Loot's plug-and-play technical solution provides a complete suite of development tools, from game launchers to cryptocurrencies, helping developers meet player needs and enhance player experience; on the other hand, Open Loot can fully utilize the operational experience and expertise accumulated from Big Time to ensure that Open Loot's partners receive comprehensive guidance in areas such as marketing and token design. Compared to blockchain-based infrastructure in the chain game ecosystem, Open Loot differentiates itself by focusing more on supporting Web3 game operations and distribution solutions.
$OL and Token Economics
The platform token $OL of Open Loot aims to enhance user engagement and simplify activities across all Open Loot games. The OL token will provide players with early access to games, discounts on premium NFTs, rewards for obtaining rare assets, and completing challenges or participating in special events. For game developers, $OL is an effective tool to engage with players, and by leveraging and integrating $OL rewards, developers can increase player engagement and retention through competitive games, social features, and targeted promotions.
$OL is an ERC-20 token created on the Ethereum blockchain, with a maximum supply of 5 billion tokens. Players deeply involved in the Open Loot ecosystem will be able to convert their earned OLRP (Open Loot Reward Points) into $OL starting from November 19, at a conversion rate of 100 OLRP = 1 $OL.
According to the project team, it adopts a fair distribution model to ensure that tokens are not allocated to Open Loot team members or investors for a truly community-driven approach. The allocation method is as follows:
User Rewards (50%): User rewards and game studio activities;
Marketing and Community (20%): Marketing and community activities, including a plan for users to earn OLRP before the $OL token release;
Finance and Ecosystem (30%): Ecosystem growth, liquidity, and financial supply.
Third-party games on the platform
As mentioned above, the Open Loot platform supports third-party game developers in addition to Big Time. Currently, besides this flagship chain game, it offers five other games.
Boss Fighters
An arcade shooting game that combines virtual reality (VR) and traditional PC, free for players. The game is set in a futuristic arena and offers a unique asymmetric multiplayer experience. Players can choose to play as a powerful VR Boss, sweeping through the battlefield with absolute dominance, or as a flexible PC Fighter, fiercely challenging the VR Boss with skillful maneuvers and clever strategies. The combination of these two distinctly different playstyles creates a dynamic and strategic combat scenario for players.
Worldshards
A sandbox life simulation MMORPG set in the fantasy world of Murrlandia. WorldShards reimagines MMORPG gameplay with a non-leveling progression system. Breaking free from traditional constraints, players can explore any path, from battling powerful monsters to mastering the art of crafting. WorldShards is currently in early access, providing players the opportunity to try out the game and experience its gameplay. As part of this exclusive early access, players can purchase unique assets, including islands and access keys, which are essential for entering and exploring the game and can be traded on the OpenLoot platform.
The Desolation
A fast-paced third-person shooter set in a future where humanity is on the brink of extinction, taking players into a world dominated by a powerful alien force known as the 'Shadow.' Players will take on the role of Chimera, elite mercenaries clad in customizable Exo armor, leading troops to reclaim Earth. The game supports PC and mobile platforms and allows for three-player cooperative combat. Dungeons are one of the toughest challenges in the wasteland, featuring complex mechanics, random elements, and powerful bosses. These ultimate encounters require careful planning and teamwork, and players can earn rare and powerful gear, including legendary and mythical items, after defeating dungeon bosses.
Shatter Point
An action RPG mobile game featuring PVP and PVE game modes with an interactive, narrative-driven world. To compete and succeed in the game, players must showcase their skills and develop over time to earn additional game resources and elevate each character to higher levels for a more engaging gameplay experience. Player avatars in the game world are referred to as heroes. They start with different base attributes and can be further modified through gear and traits gained during gameplay. NFT heroes retain their levels at the end of the season, while non-NFT heroes' levels reset to 1 after each season. Players can own an unlimited number of heroes but can only use one at a time.
One Tap
A free first-person shooter. The control scheme of One Tap is intuitive, suitable for FPS veterans as well as newcomers. Movement is controlled by the WASD keys, allowing smooth navigation across various maps in the game. Tactical actions like crouching, sprinting, and jumping add depth to player movement. Game modes include deathmatch, which tests players' weapon proficiency, search and destroy that emphasizes teamwork and strategy, and exterminators that incorporate PvE elements.
