Author: Zen, PANews
Recently, besides meme tokens always being the market focus and DeSci emerging as a trendy hotspot, other sectors have mostly been lukewarm, with Web3 games, which have long seen no wealth effect, becoming one of the poorest-performing assets in recent times, as newly issued tokens' valuations have almost universally plummeted. However, the Open Loot platform token OL, which skyrocketed immediately after going live on OKX, is an exception.
According to OKX market data and CoinMarketCap data, OL surged immediately after going live on the exchange at 9 PM on November 19, 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 peaked at $0.16 over the next two days. As of 2 PM on November 22, the OL price had retraced 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 to mid-core to hardcore games, addressing common pain points in blockchain gaming such as usability, scalability, and compliance. Currently, Open Loot primarily manages all infrastructures, crypto and non-crypto item sales, and rentals for the AAA MMORPG chain game Big Time. According to official data, in the past year, the platform has facilitated over 2.7 million transactions, with a total transaction volume exceeding $32 million.
In fact, the Open Loot platform is essentially led and built by the core team members of Big Time Studios, and the studio's staffing can be considered luxurious within the Web3 gaming industry. Its core development team comes from major gaming companies such as EA and Tencent, as well as well-known project teams from games like Fortnite, Call of Duty, and League of Legends, boasting rich production experience. The founder, Ari Meilich, is also a co-founder of the metaverse platform Decentraland.
For players, the fluidity of the gaming experience is one of the crucial factors, while the complexity of Web3 integration often affects the overall feel. Open Loot aims to eliminate typical barriers present in Web3 games, including connecting crypto wallets, paying gas fees, or waiting for transactions to settle. Through its patented Vault technology, players can buy and sell Open Loot NFTs without incurring high gas fees while retaining the flexibility to mint them onto the blockchain. Furthermore, Open Loot's NFT marketplace is specifically designed for Web3 games, offering functionalities such as NFT leasing, non-crypto gaming currency markets, and comprehensive historical records of NFT prices and activities.
With Open Loot's experience providing technical and market support for Big Time, the platform will be able to offer substantial resource support to developers and partners. On one hand, Open Loot's out-of-the-box technical solutions provide a full suite of development tools, including game launchers and cryptocurrencies, helping developers meet player demands and enhance the player experience; on the other hand, Open Loot can fully apply the operational experience and expertise accumulated from Big Time, ensuring that Open Loot's partners receive comprehensive guidance in marketing, token design, and other areas. Compared to blockchain infrastructure providers 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 quality NFTs, and rewards for acquiring rare assets or completing challenges or participating in special events. For game developers, $OL is an effective tool for connecting with players; by leveraging and integrating $OL rewards, developers can enhance player engagement and retention through competitive gameplay, social features, and targeted promotional activities.
$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 can convert their earned points OLRP (Open Loot Reward Points) into $OL starting November 19, at a conversion rate of 100 OLRP = 1 $OL.
According to the project party, it adopted a fair distribution model to ensure that tokens are not allocated to Open Loot team members or investors, achieving 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 the program for users to earn OLRP before the release of the $OL token;
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 offering 5 games besides the flagship chain game.
Boss Fighters
A free-to-play arcade shooting game combining virtual reality (VR) and traditional PC, set in a futuristic arena, offering a unique asymmetric multiplayer experience. Players can choose to play as a powerful VR Boss, sweeping through the battlefield and demonstrating absolute dominance; or they can play as a nimble PC Fighter, engaging in intense combat against the VR Boss with skilled maneuvers and clever strategies. This combination of distinctly different gameplay styles 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-level progression system. Breaking away from traditional restrictions, players can explore any path, from battling powerful monsters to mastering the art of crafting. WorldShards is currently in early access, providing players with the opportunity to try the game and experience the gameplay. As part of this exclusive early access, players can purchase unique assets, including islands and access keys, which are crucial for entering and exploring the game, all of which 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, bringing players into a world occupied by a powerful alien force known as 'The Shadows.' Players take on the role of Chimera, elite mercenaries clad in customizable Exo armor, leading squads to reclaim Earth. The game supports both PC and mobile platforms, enabling 3-player cooperative combat. Dungeons are among the toughest challenges in the desolate lands, featuring intricate mechanics, random elements, and formidable bosses. These final encounters require careful planning and teamwork, and defeating dungeon bosses rewards players with rare and powerful gear, including legendary and mythic items.
Shatter Point
An action RPG mobile game featuring PVP and PVE game modes, along with an interactive narrative-driven world. To compete and succeed in the game, players must showcase their skills and evolve over time to gain additional game resources and level up each character for a more engaging gameplay experience. Player avatars in the game world are called heroes. They start with different base attributes and can be further modified through gear and traits obtained during gameplay. NFT heroes retain their levels at the end of the season, while non-NFT heroes reset to level 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 game. The One Tap control scheme is intuitive, suitable for FPS veterans as well as newcomers. Movement is controlled by the WASD keys, allowing for smooth navigation through various maps in the game. Tactical actions such as crouching, sprinting, and jumping add depth to player movement. Game modes include deathmatches where players kill each other, gun master mode testing players' weapon proficiency, search and destroy emphasizing teamwork and strategy, and exterminators incorporating PvE elements.
(The above content is an excerpt and reprint authorized by partner PANews, original link)
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"Surging nearly 140% after going live, a detailed explanation of the game platform Open Loot created by the Big Time team"—this article was first published on (Block客).