Endorsed by Paradigm and A16Z: One article to understand the chain game platform LootRush

LootRush, an NFT marketplace for cryptocurrency gamers, on Thursday closed a $12 million seed round led by cryptocurrency firm Paradigm, with participation from Andreessen Horowitz. Other backers include Y Combinator, Brex founders, Axie Infinity, Plaid, Wildlife Studios, Dapper Labs and founders of The Chainsmokers. It is reported that the funds will be used to increase employees worldwide and buy NFTs on a large scale.

LootRush aims to be like Steam, as a distributor of PC games, but for blockchain and NFT based games. It wants to remove barriers to entry for gamers to play Web3 games and is known for providing cost-effective NFTs.

mZhNBJBAaqfeXGvkBbqT7li9MTNhY47PDN29ax1z.png

Founder’s Statement: Where LootRush Comes in

On May 5, LootRush CEO Anderson Ferminiano published an article about why LootRush was founded.

“Interest in games involving blockchains, NFTs and crypto continues to experience high growth, but interest does not always equal adoption. Developers and publishers face three main problems when it comes to mass adoption: They are technically Challenging, can be expensive, and can take hours to start the experience.

When I start LootRush in late 2021, my team’s mission is to remove all the annoying barriers to entry that can take hours for players to play a great game. What if gaming with Web 3 technology was as easy as playing on Steam or a mobile game?

That’s where LootRush comes in. We are the first and only platform to remove time-intensive barriers. We make playing games easy and fast. We believe it should be simple, natural, and cheap to try lending-based games and NFTs first. We will enable gamers to own NFTs and help NFT owners find great players. 

business model

LootRush provides a quick-start platform for blockchain games, and also provides NFT rental services for games, aiming to lower the threshold for new gamers and earn income for NFT owners. It is where gamers can acquire and share assets needed to play crypto games.

LootRush provides easy access to NFTs needed to play crypto games such as Axie Infinity. Players choose from a selection of NFTs and earn tokens by playing. Players have two ways to use their earned tokens: 1. Buy their own NFTs (ie axies) 2. Withdraw to their personal account.

LootRush charges a fixed daily or weekly price, which varies by game. For Axie Infinity, this ranges from 10 to 120 SLPs (Tokens based on Axie Infinity games) per day, depending on the project and team.

t6REkxA0pKGT4ySg3TNmw3OAJJj3CD0Zy9RelRos.png

For novice players, LootRush also offers free lessons to learn some of the game’s basics. For Axie Infinity, players who complete the course receive a 90% discount on the trainer program entry fee.

Operation experience LootRush 

1. Register and create an account on the website (www.lootrush.com)

dinr6pLnav6Y5N02KWCV5APYZYD8XPVOGxgapeKy.png2. Select the game you want to play (currently only supports Axie Infinity, LootRush plans to launch more games like CryptoKitties and NBA Top Shot)

kfySM9H6YAxmtHxdysWkejs0jGnbUdeABKLa5t5S.png

3. Select the NFT that suits your game preference;

bBLVzA6eNbpEmiJEfYXvF8rrGq9ywvxANgDgUGuT.png

4. Play and earn tokens (fees will be based on project and team preference);

5. Use the earned tokens to buy new assets in the market, upgrade or withdraw to your own wallet.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/endorsed-by-paradigm-and-a16z-one-article-to-understand-the-chain-game-platform-lootrush/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

Like (0)
Donate Buy me a coffee Buy me a coffee
Previous 2022-05-06 10:38
Next 2022-05-06 10:39

Related articles