Loot NFT project is building up a different level of NFT

In the past few weeks, the hottest thing in the encryption field is Loot NFT project. In the past few days, avatars such as CryptoPunks were hot, and it instantly switched to text NFT hot. This is the rhythm of the crypto world, which is dazzling.

Loot NFT project was initiated by Dom Hofmann and promoted by the community. Each loot represents a set of adventure equipment with random and rare characteristics. The 8 objects contained in the equipment correspond to the adventurer's weapons, head armor, and breastplate; waist, hand, and foot protectors; as well as necklaces and rings.

The total amount of Loot NFT project is set to 8000. When Loot NFT starts to be generated, it is collected for free. In addition to the necessary gas fees, there is no need to pay for the generation of Loot. Among them, Loots numbered 1 to 7777 can be claimed and minted by anyone by calling the smart contract deployed on Ethereum, and the promoters were robbed and minted within a few hours after they advertised on Twitter. Only the contract deployer, that is, the Dom, has the authority to claim the remaining 222 pieces. He has already claimed the Loot numbered 7881 and 7836 and changed hands, so the current total circulation is 7779 pieces.

According to the statistics of community personnel, since it went online on August 28, 2021, the floor price of Loot, which was claimed for only gas fees, reached 10 ETH (equivalent to 38,000 US dollars) on the 7th day, and then remained at Near the level. As of September 7, 2021, the total number of holders' addresses was 2,528, contributing approximately US$210 million in transaction volume to the NFT market, ranking first in weekly transaction volume.

The project team's decision without any official explanation for Loot is a clever and bold design of the ever-increasing text version of NFT. The community has been given complete autonomous creation rights to Loot. Imagine if you like certain features of a Punk, but don't like the appearance of the entire Punk. If you change it to suit your style, the "identity" of the Punk you have is destroyed.

For Loot NFT project, because its holders have complete creative autonomy, people can easily develop new designs according to their own tastes, and the entire community will flock to it, praising it for "looks rare."

It can be said that the fact that there is no official artwork makes the artwork produced by the community more unique, because each artist has his own interpretation of Loot, which can expand his knowledge more widely.

Loot broke the stereotype of NFT in many ways, and triggered us to think deeply.

The blockchain is a witness to the history of digital space and time. It witnessed Beeple pointing to an expensive JPG file with hash value, witnessed Autoglyphs painting with random symbols, and witnessed the IP created by Loot using words. It may also A better basic language is needed to express the content of the testimony, perhaps human-readable text, or just some machine-readable symbols. But no matter what language is used to write history, a consensus information core is sufficient for humans to fabricate beliefs and generate empathy, while fictional, fantasy, and unknown things that need to be explored are often more attractive than reality.

In comparison, Cryptopunks is an IP, an NFT of collectibles, and even Hollywood brokerage companies have reached IP cooperation with their studios. Loot NFT project is an open NFT, there is no brand, no IP, it has only a community.

Programmatic generation technology is to extract content from machine-readable information, allowing the machine to reproduce and even create content. The advantage of programmatic generation lies in the decentralization of the content generation process. If social randomness is further introduced in this process, it will be able to generate a wealth of random interaction possibilities in a decentralized scenario, thereby making it possible to achieve non-predetermined scenarios and Mechanism and the goal of spontaneously emerging new social experiences around IP, and gradually develop the meta-universe.

Someone in the community said: Loot NFT project is an impromptu performance of NFT. Whether this improvisation will succeed or fail in the future depends on the evolution of the community. No one knows exactly what will happen in the future.