Ethereum in the NFT world? 5 perspectives to fully explain the value of Loot

It’s not that I don’t understand, but that the world is changing too fast.

The JPG model NFT (Punk, monkey, penguin…) that was still in fashion a few days ago was instantly marked as a “classical NFT” by a TXT model NFT with white letters on a black background.

How about it is getting harder and harder in the industry, and the threshold is getting higher and higher? Probably the most widely spread in the past two days is the following paragraph.

I just understand cex, you just play dex.
I just understand dex, you just play defi.
I just understand defi, you just play nft.
I just understand nft, you just play gamefi.
I just understand gamefi, you just play jpg
I just understood jpg, you just play txt
on Tsinghua University and Peking University do not know much better than you!

No kidding, it’s really hard…

Loot first impression

Ethereum in the NFT world? 5 perspectives to fully explain the value of Loot

The first time you saw Loot, what did you think of?

Those who haven’t played the game will most likely look dumbfounded. Young people who have played games are probably Diablo.

A somewhat old person who has played the game is probably Mud (a multiplayer real-time virtual world, usually based on text descriptions).

For people like me who have played games, are a little old, and have a relatively good understanding of European and American RPG culture, the first thing that came to mind was the DND running group (“Dungeons&Dragons” abbreviation, which is “Dungeon and Dragons”. A tabletop role-playing game developed by TSR) .

The articles on Loot’s interpretation in the past two days have been overwhelming, the NFT paradigm shift, the NFT revolution, the bottom-up new era… You can find a bunch of them with just a search. Today we are talking about something different.

NFT community Ethernet Square ?

The most exciting metaphor in the community is that if Punk is the BTC in the NFT world , then Loot is the ETH in the NFT world.

It is not difficult to understand that Punk has basically been shaped as a “store of value” + “social demand” NFT project. Its historical status and functions in the NFT world are very similar to those of BTC in the crypto circle.

If Punk is BTC, Boring Monkey is undoubtedly LTC . So where is ETH? Everyone has been looking for.

As soon as Loot came out, the whole circle exploded. This is the Ethereum of the NFT world! Because it works very much like Ethereum, anyone from the bottom up can go to Github to write code, submit EIP proposals, and use it to build what you want to build.

JPG gives you a limit, but TXT can free your endless imagination. It’s not only a week, Xloot, Ploot, Blood, Root, Zoot and other kinds of imitation disks, as well as tools, plugins, unions built on Loot, etc. are too many to count.

However, the first time I saw Loot, it felt more like NXT (Future Coin) in the NFT world. In fact, NXT put forward the concept of smart contract earlier than ETH, but the contract template is far less flexible than ETH, and ETH eventually won.

If Loot has set off a new era of NFT meta-universe, is it too limited to use a pure equipment NFT as a seed?

There are always those feelings that are not low-level enough or abstract enough. Then, in a few days, we saw something more low-level and abstract.

Ethereum in the NFT world? 5 perspectives to fully explain the value of Loot

It is indeed a lower level and more abstract, let’s play Loot!

Rarity

I said earlier that the first reaction to seeing Loot was the DND running team. At that time, I was thinking that your running team only has equipment, what about the characters? What about occupation? Where’s the monster? What about skills?

If I’m just a layman in running groups, then the energy burst out from Loot by experienced running group enthusiasts is incredible.

For example, AC, the god of our DeFi, is a real running team enthusiast. So AC was inspired by Loot and directly created an FTM version of Loot, named Rarity.

You can directly use the contract mint (casting) any of the 11 professions to complete the interactive upgrades on the chain every day. Skills, synthesis and other functions will be coming soon. Run Mud and walk away!

So not surprisingly, FTM’s performance these days is also “in the sky”, because this kind of high-frequency interactive chain game, it is absolutely impossible to run on that expensive and slow ETH (by the way, Solana also started Do your own Loot).

Of course, the more definitions, the smaller the space for people to freely develop and imagine. AC basically uses the Loot framework to build a game with its own worldview, which is more for gamers, while Loot is for other creations. Freedom to play and create, more for developers.

From this perspective, Rarity is more like NXT, and Loot is indeed Ethereum.

Developer and user perspective

Seeing some developer comments, I am a developer of chain games. Why do I introduce Loot into my game? What are the benefits for me?

I don’t know if there is any benefit, but it is more likely that Loot was not designed for current chain games. Before each new thing comes out, we always habitually use the old thinking and templates to apply it to see what this new thing can do.

For example, at the beginning of Dex, everyone used to imitate Cex’s order book, but later found that apart from asset control, all other experiences were not as good as Cex, so why should I use Dex?

Until AMM and Uniswap were born, Boom! Turns out Dex is like this.

For example, NFT was first born, and everyone thought it was to move the real IP to the chain, or to burn the real artwork on the chain, which is called “using the blockchain”.

However, it turns out that those that are really hot are actually blockchain-native IP or art, such as Beeple, such as Artblock, such as Punk, such as Boring Monkey…

Now with Loot, what it will turn on chain games, GameFi and NFT, can only take one step to see.

But what is certain is that the fire must not be an existing chain game to bring Loot’s equipment into its equipment system, but some kind of native game or NFT based on Loot.

Investment perspective

From an investment perspective, the first person who understands or comes into contact with Loot’s information has already made a lot of money.

However, in fact, many people have seen Loot when the floor price is only 2 or 3 ETH, but they think that buying a few words for 10,000 US dollars is even more incredible than buying a boring monkey JPG for 10,000 US dollars.

After all, I can still use the monkey as an avatar to show off. What can I do with these broken characters?

But the investment book is like this. When you don’t understand it, everyone can’t understand it. If you read it, everyone understands it. Alpha’s income is gone. You can only eat Beta.

So when a brand-new thing is born, if you are convinced that it is a new species that has never appeared before, but you don’t understand it, then take the loss you can bear first, and look back and study it slowly. It’s definitely a kind of Strategies worth learning.

Last year’s Yfi, this year’s Loot, almost all came here.

summary

Use the speeches of the two big guys I saw on the Internet as the end of this article. One sentence refers to Loot and the other refers to the entire NFT.

1. The future development of Loot depends on the collector. If people buy Loot but no one continues to build on it, then Loot will be worthless; but if people create some content on it, the possibilities will be endless.

2. NFT is essentially a software protocol. The value of a software protocol does not lie in its individual isolation characteristics, but the essence lies in how many nodes will adopt this software protocol in the future and how large the network it can form.

People on the Canal Network cannot understand the value of the railway network; the traditional newspaper network cannot understand the value of the search engine network and social media network. Chickens and ducks cannot communicate. In the end, whoever has a big network will be more reasonable.

The value of NFT lies not in the artwork itself bound to it, but in the community identity behind this work and the potential for future development of the community network.

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/ethereum-in-the-nft-world-5-perspectives-to-fully-explain-the-value-of-loot/
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.

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