Introduction

Open Loot is a Web3 gaming distribution platform and marketplace that empowers player-owned game economies, assisting game developers and publishers with go-to-market strategies, distribution, user experience, payment solutions, and more. It addresses challenges in the crypto gaming space, including growth, user experience, scalability, payments, and compliance. The platform manages all aspects of infrastructure, including crypto and non-crypto item sales and rentals for games like Big Time.

The platform offers developers tools for NFT and token management, enabling the creation of player-owned economies. For players, Open Loot provides good experience to buy, sell, and trade in-game assets without the complexities of traditional crypto transactions. The platform supports various games, including the flagship title Big Time, and features offerings like NFT rentals and a marketplace for non-crypto game currencies.

What is Open Loot (OL)?

Open Loot is a Web3 gaming distribution platform and marketplace designed to address challenges in the crypto gaming industry, such as growth, user experience, scalability, payments, and compliance. It manages infrastructure for crypto and non-crypto item sales and rentals, exemplified by its support for games like Big Time, which uses Procedural Generation to create unique player experiences.

The primary objective of Open Loot is to provide an end-to-end solution for launching games with integrated Web3 economies. By offering NFT and token management tools, the platform enables developers to create player-owned economies, enhancing engagement and monetization opportunities. For players, Open Loot aims to simplify the experience of buying, selling, and trading in-game assets, removing the complexities associated with traditional crypto transactions.

Main Features and Services

Open Loot offers a range of features and services aimed at developers and players within the Web3 gaming ecosystem. For developers, the platform provides tools for managing NFTs and tokens, enabling the creation of player-owned economies within games. It also delivers out-of-the-box technical solutions, including game launchers and premium currencies, ensuring developers meet essential player expectations.

With its experience managing projects like Big Time, Open Loot extends advisory support in marketing, token design, and overall production, providing comprehensive guidance to partner developers. Additionally, the platform has established a $150 million fund to support games launching on its platform, offering resources necessary for growth and integration.

For players, Open Loot is designed to deliver a user-friendly experience by simplifying Web3 integration. It allows players to engage with games without connecting crypto wallets, paying gas fees, or experience transaction delays. The platform includes sophisticated marketplace features, such as NFT rentals, a marketplace for non-crypto game currencies, and detailed histories of NFT prices and activities, catering specifically to Web3 gaming needs. Open Loot supports various payment methods, including credit and debit cards, and bank transfers, ensuring global accessibility for purchasing NFTs through direct sales, auctions, and loot boxes. To ensure a secure environment for transactions and asset management, the platform integrates AML/KYC procedures, fraud prevention measures, and custodial wallets.

Open Loot’s Development Team

Open Loot’s development team includes industry veterans with extensive experience in both gaming and blockchain technologies. Some of them include:

• Ari Meilich: Founder of Big Time Studios and the visionary behind Open Loot. Meilich previously served as the founding CEO of Decentraland, a prominent metaverse platform, bringing significant expertise in blockchain-based virtual environments to the team.
• Thor Alexander: Co-founder of Big Time Studios, contributing to the development of Open Loot. Alexander has a background in game development, having worked on various projects that blend gaming with blockchain technology.
• Matt Tonks: Co-founder of Big Time Studios, helping create Open Loot. Tonks brings experience from the gaming industry, particularly in developing and managing large-scale gaming platforms.

Relevant Experience and Background

The development team behind Open Loot boasts a wealth of experience from leading companies in the gaming industry, including Electronic Arts and Tencent. Team members have contributed to renowned game franchises such as Fortnite, Call of Duty, and League of Legends, providing them with deep insights into game design, development, and player engagement.

In the blockchain domain, Ari Meilich’s role as the founding CEO of Decentraland highlights the team’s proficiency in creating decentralized virtual worlds and integrating blockchain technology into gaming experiences. This combination of gaming and blockchain expertise positions the Open Loot team to effectively address challenges in the Web3 gaming landscape, such as usability, scalability, and compliance.

The team’s diverse background enables Open Loot to offer comprehensive solutions for developers and players, facilitating the creation of player-owned economies and enhancing the overall gaming experience. Their collective experience ensures that Open Loot is well-equipped to navigate the complexities of integrating blockchain technology into the gaming industry.

Open Loot’s Technical Architecture

Open Loot’s technical architecture is designed to integrate blockchain technology into gaming platforms, ensuring efficient and user-friendly interactions for developers and players. It operates on the Ethereum blockchain, using the ERC-20 standard for its native cryptocurrency, the $OL token, for secure and transparent transactions within the platform’s ecosystem.

To enhance user experience and address common blockchain challenges, Open Loot employs a proprietary technology called the Vault, which allows players to buy, sell, and manage NFTs without directly interacting with the blockchain, reducing gas fees and simplifying transactions. The Vault also allows users and developers to mint NFTs onto the blockchain when needed, offering convenience alongside blockchain benefits.

The platform’s architecture supports games, including the flagship title Big Time, and features offerings like NFT rentals and a marketplace for non-crypto game currencies. This approach bridges traditional gaming and decentralized finance, making blockchain gaming more accessible.

What is the $OL Token?

The $OL token is the main cryptocurrency for the Open Loot platform, facilitating transactions and interactions within its ecosystem. It is a fungible ERC-20 token created on the Ethereum blockchain, with a capped supply of 5 billion tokens. The $OL token follows a community-driven distribution model, with no tokens allocated to Open Loot team members or investors. This approach helps to ensure the sustainability and fairness of the ecosystem.

The $OL token helps to enhance user engagement and provides different utilities that contribute to the ecosystem’s growth and functionality, such as:

• Purchasing Items: Users can use $OL to buy items on the Open Loot Marketplace, including NFTs and premium in-game currencies.
• Discounts and VIP Tiers: Holding and spending $OL can qualify users for discounts and access to various VIP tiers, which offer benefits such as reduced transaction costs, special airdrops, and exclusive features.
• Special Premium Currency Packs: Certain premium currency packs are available exclusively for purchase with $OL, often at discounted rates compared to regular packs.
• NFT Primary Sales: During primary sales, using $OL may provide special discounts or exclusive access to certain NFTs, offering advantages in acquiring new and desirable digital assets.
• In-Game Spending: Partner games may enable $OL to access content or acquire items, integrating the token into gameplay experiences.

$OL Tokenomics

The tokenomics of the $OL token are designed to support the growth and sustainability of the Open Loot ecosystem. By prioritizing community rewards, ecosystem development, and marketing efforts, the tokenomics framework ensures a fair and transparent distribution of tokens. The structure also incentivizes user engagement and provides resources for long-term platform operations.

Total Supply and Distribution Model

The $OL token has a capped supply of 5 billion tokens. The distribution is structured to promote a community-driven ecosystem, with allocations as follows:

• User Rewards: 50% of the total supply is designated for user rewards and game studio events. This allocation incentivizes active participation and engagement within the platform.
• Marketing & Community: 20% is allocated for marketing and community events. This includes programs where users earn Open Loot Reward Points (OLRP) prior to the $OL token launch, aiming to expand the platform’s reach and user base.
• Treasury & Ecosystem: 30% is reserved for ecosystem growth, liquidity, and treasury provision. This ensures the platform’s sustainability and supports ongoing development and operational needs.

This distribution model ensures that no tokens are allocated to Open Loot team members or investors, embodying a community-driven approach.

Vesting Schedules and Release Mechanisms

The maximum supply of 5 billion $OL tokens will be unlocked continuously by user rewards, marketing events, and partner grants. The vesting schedule is designed to align with platform activities and incentives, ensuring a steady and fair distribution of tokens over time.

$OL Marketplace

The Open Loot Marketplace helps trade game-related digital assets, including NFTs and premium in-game currencies. It offers various transaction types to accommodate user preferences and supports multiple payment options to ensure accessibility.

Supported Transaction Types include Direct Sales, through which users can purchase items directly at fixed prices, facilitating straightforward transactions; auctions: the marketplace hosts auctions where users can bid on items, introducing a competitive element to asset acquisition; and loot boxes, containing random items, providing an element of chance and excitement for users seeking unique or rare assets.

The marketplace supports various payment methods to cater to a global user base. Users can purchase cryptocurrencies, including the platform’s native $OL token. Traditional payment methods are accepted, allowing users to transact using major credit and debit cards. For users preferring direct bank transactions, the marketplace accommodates bank transfers as a payment option.

Development Team, Ecosystem, and Partnerships

Big Time Studios, the developer behind Open Loot, comprises industry veterans with experience in both gaming and blockchain technology. The team has used its expertise from running Big Time to offer comprehensive support to Open Loot partners, including marketing, token design, and overall production guidance.

Open Loot has collaborated with several game developers to integrate various games into its platform. Notable titles include:

• Big Time: A multiplayer action RPG for PC, serving as the flagship title of Open Loot.
• World Shards: An expansive sandbox MMORPG developed by Lowkick Studio in collaboration with Abu Dhabi Gaming.
• Shatterpoint: A free-to-play action mobile RPG among the initial launch partners set to go live starting in Q3-2024.
• Boss Fighters: An engaging multiplayer action title, also part of the initial launch partners preparing for release in late 2024.
• The Desolation: An immersive cross-platform loot shooter included in the lineup of games set to launch on Open Loot.

To further support the development of Web3 games, Big Time Studios launched the $150 million Open Loot Fund, which invests in blockchain games through the Open Loot platform, including the Open Loot Chain and NFT marketplace. Funds are allocated towards development and marketing expenses, with recipients receiving strategic guidance on aspects such as in-game economy design, sales strategy, marketplace optimization, marketing, and community building.

Since its inception, the Open Loot platform has facilitated nearly $500 million in lifetime trading volume and amassed over 1.5 million registered accounts, indicating significant growth and engagement within the ecosystem. These collaborative efforts have expanded Open Loot’s game offerings and enhanced its reputation as a leading platform in the Web3 gaming industry, fostering a thriving community of developers and players.

Partnerships, Investments, and Backers

Open Loot has partnered with various game developers and industry players to enhance its platform offerings. Notable collaborations include GC Turbo, Hit Factor, Motor Meta, and global payments solution Circle. These partnerships aim to provide developers with the necessary tools and support to integrate blockchain technology into their games.

The $150 million Open Loot Fund represents a significant investment in the Web3 gaming space, demonstrating confidence in the platform’s potential to drive innovation and growth in blockchain-based gaming.

Through these strategic partnerships and investments, Open Loot continues to expand its ecosystem, offering comprehensive support to developers and delivering engaging experiences to players worldwide.

Conclusion

Open Loot is a comprehensive Web3 gaming distribution platform designed to support the creation of player-owned economies by offering tools and infrastructure for developers and players alike. From its technical architecture, which includes the Vault system and Ethereum-based $OL token, to its marketplace features supporting diverse transaction types and payment methods, Open Loot bridges traditional gaming with blockchain technology. The platform’s community-driven approach to tokenomics and its ecosystem partnerships further underline its commitment to fostering sustainable growth in the Web3 gaming industry.