Author: Zen, PANews

Recently, in addition to meme tokens consistently being the market focus and DeSci emerging as a new trendy hotspot, other sectors have mostly shown lukewarm performance. Among them, Web3 games, which have long been devoid of wealth effects, have become one of the worst-performing assets in recent times, with the valuations of newly issued tokens almost universally plummeting. However, the Open Loot platform token OL, which surged immediately after its launch on OKX, is an exception.

According to OKX market data and CoinMarketCap, OL was launched on the exchange at 9 PM on November 19 and immediately skyrocketed. In the first two hours, the trading volume exceeded $130 million, with the price soaring from $0.0677 to $0.118, nearly doubling. Subsequently, over the next two days, OL peaked at $0.16. As of 2 PM on November 22, the price of OL had retraced to around $0.107, with a circulating market cap of approximately $128 million and a fully diluted valuation (FDV) of $530 million.

Core Team Behind 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 all infrastructure, sales, and rentals of both crypto and non-crypto items for the AAA MMORPG chain game Big Time. According to official data, the platform has facilitated over 2.7 million transactions in the past year, with a total transaction volume exceeding $32 million.

In fact, the Open Loot platform is essentially led and built by the core team of Big Time Studios, which boasts a luxurious personnel configuration in the Web3 gaming industry. Its core development team comes from major gaming companies like Electronic Arts and Tencent, as well as renowned game projects such as Fortnite, Call of Duty, and League of Legends, bringing extensive production experience. The 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 incurring high gas fees while retaining the flexibility to mint them onto the blockchain. Additionally, Open Loot's NFT marketplace is specifically designed for Web3 games, offering features such as NFT rentals, a non-crypto game currency market, and a comprehensive historical record of NFT prices and activities.

With Open Loot's experience in providing technical and market support for Big Time, the platform will also be able to offer substantial resource support to developers and partners. On one hand, Open Loot's ready-to-use technical solutions provide a full suite of development tools, including game launchers and cryptocurrencies, helping developers meet player needs and enhance player experiences. On the other hand, Open Loot can fully leverage the operational experience and expertise accumulated from Big Time to ensure that its 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 premium NFTs, rewards for acquiring rare assets, and completing challenges or participating in special events. For game developers, $OL serves as an effective tool to connect with players; by utilizing and integrating $OL rewards, developers can enhance player engagement and retention through competitive gaming, 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 engaged in the Open Loot ecosystem can convert the points they earn, 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, achieving a truly community-driven approach. The distribution method is as follows:

1. User Rewards (50%): User rewards and game studio activities;
2. Marketing and Community (20%): Marketing and community activities, including plans for users to earn OLRP before the $OL token launch;
3. Treasury and Ecosystem (30%): Ecosystem growth, liquidity, and treasury 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, in addition to this flagship chain game, it offers five other games.

Boss Fighters

A combination of virtual reality (VR) and traditional PC arcade shooting game, free for players. Set in a futuristic arena, it offers a unique asymmetric multiplayer gaming experience. Players can choose to play as a powerful VR Boss, sweeping through the battlefield with absolute dominance, or as a nimble PC Fighter, engaging in intense battles against the VR Boss through skillful maneuvers and clever strategies. The combination of these two distinct gameplay styles creates a dynamic and strategic combat environment 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. 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 with 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 crucial for entering and exploring the game, all of which can be traded on the Open Loot platform.

The Desolation

A fast-paced third-person shooter set in a future where humanity is on the brink of extinction, immersing players in a world dominated by a powerful alien force known as "The Shadows." Players will take on the role of Chimera, elite mercenaries clad in customizable Exo armor, leading their troops to reclaim Earth. The game supports PC and mobile platforms, allowing for cooperative combat with up to three players. Dungeons are among the toughest challenges in the wasteland, featuring complex mechanics, random elements, and formidable bosses. These ultimate encounters require careful planning and teamwork, and players can earn rare and powerful gear, including legendary and mythical items, by defeating dungeon bosses.

Shatter Point

An action RPG mobile game featuring both 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 develop over time to gain additional game resources, allowing each character to reach higher levels for a more engaging gaming experience. Player avatars in the game world are referred to as heroes. They start with different base attributes and can be further modified through equipment and traits acquired during gameplay. NFT heroes retain their levels at the end of each 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. One Tap's control scheme is intuitive, suitable for both FPS veterans and newcomers. Movement is controlled by the WASD keys, allowing for smooth navigation across 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 challenges that test weapon proficiency, search and destroy modes that emphasize teamwork and strategy, and exterminators that incorporate PVE elements.

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