Lootverse is an experimentation with Revenue-Bearing NFTs (RB-NFTs). These are benefits wrapped in NFTs with various reward streams. We have 8 Types of RB-NFTs, namely Type A, B, P, H, S, R, F, and W. Only RB-NFT holders can access the Fund.
Each RB-NFT is a representation of a plot with different benefits acting like land zonings in real estate. Each USDC received is mirrored as Credits in-world. Type W owners receive 0.5% of all BUN sales (in Credits), and 2% of all LTT redeemed. Below is a description of some RB-NFTs.
Type A (24 total, 8 reserved)
Each Type A receives 0.1% of all BUN sales in Credits and convertible to USDC ERC20, and the right to mint 4 NFTs that describe that plot.
Type B (24 total, 8 reserved)
Each Type B grants the right to share in a performance pool of 3% of all BUN sales in Credits and convertible to USDC ERC20, plus the right to mint 4 NFTs that describe that plot. Type B owners can use referral URLs for creators to invite their fans and followers, which can provide a revenue stream to the creators off of all activities within Lootverse.
Type P (8 total, 4 reserved)
These are curator seats that grant the key to list NFTs for battle-bidding auctions (Loot Arena) and 100% of the proceeds thereof as displayed on the auctions. They also get to publish auction events on X by SL and get paid 90% of the proceeds (7% is provided to stakers in Credits, and 3% goes to the Satoshi’s Lounge’s procurement pool). Each Type P owners can mint 4 NFTs that describe their plot.
Members can pay in LTT to invite others to the Great Empire, or anyone following an invite URL can pay to join. Invite and joining fees are priced solely in LTT.
Members cannot participate in battle-bidding auctions without first purchasing BUN. Bidding at auctions mine Loot Tickets (LTT) which are redeemable for rewards in the World. BUN is limited in number (500m) and is always purchased at the fixed price of 0.20 USDC. BUN used in auctions are trapped until the auction concludes (at which time they recirculate through the World). This diminishes the circulating supply temporarily ensuring a winner. Members can stake or sell their LTT for rewards in USDC credits. They can also send their LTT off-site (coming soon).
Here, members set up their personal details, go through KYC, whitelist their public addresses and agree to terms, etc. Whenever a transfer is made off-world (i.e., USDC received for the proceeds of an NFT auction, LTT sent off site or sending an NFT off-site), KYC is required. However, KYC is not required for members interacting within the world.
Get to know about degrees, mining ratios, badges, and more. Explore the Oven, learn about the Effective Bid Value, Internal Exchange Rates, and Redemption Efficiency. Members are part of a living ecosystem that updates itself. Don't be fooled by the simplicity of the Arena.
Prior to an NFT getting to the arena, NFTs must be curated and minted.
The Dwarf’s Chamber
NFTs are prepped in the Dwarf’s Chamber by curators. They deal with talented creators from around the world and manage their listing process.
NFTs are minted here and then immediately queued for battle in the arena.
The main attraction in the Great Empire. The game is a time-limited auction where members bid one BUN at a time, and cannot outbid themselves. A bid received in the last 15 seconds resets the timer back 15 seconds. The last bidder when the timer reaches 0, wins a one-of-a-kind item (NFT) that they can re-list back in the arena with a reserve price.
BUN are accounting units used to value NFTs in the battle bidding arena. They are then converted based on an effective bid value to USDC ERC20 as payments to creators (Loot NFT takes no commissions). Curators then pay creators, less any agreed-upon commissions.
Members that want to mine Loot Tickets (LTT) for redemption. Miners are usually the first to get into auctions and max out their bid bot allocations.
Snipers are very attentive to the game and come in if the bid bot allocations of others are close to zero or turned off. They know that they can outbid others in a mano-a-mano contest.
Fans are those that come in at any time. They actually want the NFT or to simply support their favorite creators. They can drive the price pass a psychological level with little spending. They may want the creation but have to contend with snipers and gamers.
The shopper wants to buy limited-edition items in Satoshi’s Lounge. They would rather mine the LTT to shop.
Gamers are hyper-competitive characters who are driven to complete sets, get mystery gifts, degrees and more benefits. Their goal is to be ranked higher than anyone else in the world and become legends of Lootverse. They have to contend with snipers whose strategy is to get the NFTs to re-list it back in the arena for gamers to win.
Only 8 spots at a given time reserved for star performances. When the reserve for an auction is met, the battle begins. Why is this important? (a) reserves may be high, so miners can get an instant LTT boost when joining an auction, and (b) if members win the NFT, they can set a reserve price at the price it previously sold for.
Members that win NFTs can decide to re-list them for sale or send them off-World (i.e., burning them on LNFTxHABN and re-issuing them on the chain of their choice together with metadata it contains). This is a one way action and NFTs sent off-site cannot be reintroduced in the World.
Members can decide on matters that affect the world. They can join the Cabinet, Upper House, Lower House, as a Councillor or a Law Lord. For a motion to pass, it must meet have at least 25% of all sitting parliamentarian voting, and 51% of all voting weights.
100 spots available for 5,000 LTT/annum each. During tenure, a cabinet member has a voting weight of 6,000. If a cabinet member is also part of the Loot Genesis Army, they receive an additional 500 voting weight.
500 spots available for 2,500 LTT/annum each. During tenure, an upper house member has a voting weight of 2,750. If part of the Loot Genesis Army, they receive an additional 500 voting weight.
1,000 spots available for 1,000 LTT/annum each. During tenure, an lower house member has a voting weight of 1,000. If part of the Loot Genesis Army, they receive an additional 500 voting weight.
Unlimited spots available for 10 LTT/annum each. During tenure, councillors can vote with a 25 voting weight. If part of the Loot Genesis Army, they receive an additional 500 voting weight.
150 seats reserved for the same voting power as Cabinet members. Law Lords are those that contribute significantly to the world’s success.
Miners must go through the interchange to redeem their LTT at Satoshi’s Lounge or to buy tablets to access X by SL auctions. All LTT redeemed are burned.
To note, miners get benefits from X by SL. To help the ecosystem, the Kingdom donates 7% of its auction receipts to miners. Not to be outdone, the Great Empire also donates 1.5% of all BUN sold to miners. To ensure fairness, the pool of Credits (1 USDC = 1 Credit) is rewarded to miners in proportion to their work (i.e., their share of the staking pool).
It is in the world’s roadmap to allow members to extract Loot Tickets to the blockchain of their choice (Ethereum - $LTTE, Binance - $LLTB and Cardano - $LTTC). This process burns LTT on LNFTxHABN blockchain, and mints them on the relevant chain. When bringing them back into the world, they are burned on the relevant chain and reissued on LNFTxHABN.
X by SL members participate in honor-based auction.
High net worth individuals participate in these honor-based auctions with a short timer; a bid received in the last 30 seconds resets the timer back 30 seconds. Winners must pay the winning price in USDC within 24 hours. If no payment is received, that person's name is listed in the Wall of Shame and their access to Lootverse is terminated.
The most exclusive shopping district in the World. Items are priced and purchased in LTT only. Visitors can sign up for free and buy LTT with Credits, or if they have mined some, they can use their LTT here. When used, LTT are burned and reduce their circulating supply.
Le Porte Feuille
A wallet allows you to deposit LTT cryptocurrency. It also shows USDC platform credits and LTT in your account across multiple sites.
The store sells limited-edition or unique items not available anywhere else. All items are offered on auction for 24 hours with a reserve price. If the reserve price is met, the highest bidder receives the item. If not, the item is listed in a buy-it-now section at 10% above the reserve price.
LNFTxHABN is a permissioned Ethereum-based blockchain that records and audits transactions within Lootverse. HABN was launched in 2018.
Smart contracts bring to life the Proof of Play protocol, track BUN, LTT, Credits and NFTs within the world, and act as a bridge to other blockchains.
Physical NFTs sold on Loot Arena are custodied at a facility up until the digital NFTs that represent them are transferred off-site by their owners. Their locations are listed in the Loot Vault manifest. View here
Loot NFT World houses the stories of Loot Adventurers. Owners tell the story of their land in 4 NFTs. The result creates a multimedia experience of 19,250 NFTs stitched together. View epic battles, how Loot gear were used, and the adventurers that wielded them.
Awaiting NFT Minting
Loot Adventurer Gear
This a plot owners page which is like a media page where the owners can interact with an audience, showcase NFTs, videos, games and more. The image on this page is not an NFT.