Someone earns $100,000 in 4 days and what kind of NFT is Loot?

You may have a brief understanding of NFT, but what is Loot? You may not have heard of it. But in the past 4 days, someone has minted it and made $100,000.

What is Loot?

It all started with this tweet, which was distributed by its publisher @dhof on August 28.


It is free to receive; miners only need to pay gas to mint Loot; at first there is no website; there is no other information except tweets; you must directly mint Loot through the contract on @etherscan.


Of course, in the past 4 days, someone has cast and made a profit of 100,000 US dollars.


This is an on-chain NFT that only contains text. Its founder, Dom Hofmann, is the co-founder of Twitter’s short video sharing application Vine. He also founded the NFT community Blitmap and the video game project Supdrive.

Earlier, Dom Hofmann also mentioned plans to launch Supdrive, a NFT-based video game project in October. Each NFT is a certificate of ownership, representing a digital project such as paintings and video clips, and Supdrive will serve as an On-chain fantasy game console (On-chainfantasygameconsole), making each NFT a playable original video For games, users can play games through SupdriveVirtualFirmware software, and different versions may have different difficulty settings and gameplay.


Then why is it worth so much money?

The common saying in the industry is that it may represent a paradigm shift in the NFT field and become better, and the community has been given full independent creation rights to Loot. Compared to creators who bring value to NFTs after issuing NFTs, what @dhof does is to let the community determine the value of NFTs. This is a new and more decentralized way of building NFT projects.


Latest news shows, DomHofmann tweet said it would all Ethernet Square launched synthesis Loot tokens (SyntheticLoot) address, specifically, according to the given address wallet returned synthesis Loot tokens “virtual NFT”, and each purse There is only one, and because it is not a real NFT, it cannot be cast, transferred, sold, etc. In addition, creators built on Loot tokens can choose to use synthetic Loot tokens as a way to allow a wider range of adventurers to participate in the ecosystem, while still being able to easily distinguish between initial Loot and synthetic Loot tokens.

Is there a risk?

It seems that how high Loot can fly depends entirely on the upper limit of the community’s collective imagination, but it is undeniable that this is still a 100% experimental project.

In fact, with the huge fire of NFT, many works have been sold at “high prices”. Why do these NFTs sell more expensive than Monet’s paintings? Isn’t there a hype factor? Are there risks such as money laundering? This may be a question hanging in everyone’s mind.

In fact, the technology maturity curve created by Gartner pointed out that any technology or new concept needs to go through five stages: budding period, bubble period, trough period, recovery period and mature period. According to William Huobi Research Institute, is there a bubble or hype factor in the current sky-high NFT? The answer is yes. Because the development of any new technology and new concept follows this objective law, the NFT, which is currently in the “bubble boom” period, is enthusiastically sought after by the market, the true value is exaggerated, and there is a bubble in it. However, we should not just choke on food for this reason. Although there is a clear bubble in the NFT market, we should not deny the potential value of NFT. But fundamentally, the rise of NFT is the product of the development of the digital economy to a certain stage.

In addition, William also pointed out that there are certainly risks of money laundering and infringement in the NFT market. Although the current NFT market is very hot, it may take a very difficult period of squeezing the bubble for NFT to develop more healthily in the future.


Posted by:CoinYuppie,Reprinted with attribution to:
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 2021-09-02 06:55
Next 2021-09-02 06:56

Related articles