OPENLOOT (OL)

Platform Use

OPENLOOT is a Web3 gaming distribution platform and marketplace that helps players buy, sell, and trade game NFTs easily. It manages both crypto and non-crypto item sales and rentals, especially for the game Big Time.

Marketplace Features

Players can trade NFTs instantly without paying blockchain fees, which makes trading smoother and more accessible. The platform supports direct sales, auctions, and loot boxes, with payments accepted in crypto, debit, credit, or bank transfer.

Token Utility

The OPENLOOT token (OL) captures value from the platform by offering exclusive benefits to users. It helps boost platform activity, improve user engagement, and create a rewarding experience for players.

User Experience

OPENLOOT uses technology to remove common Web3 gaming hurdles like gas fees and wallet connections, providing a frictionless and player-friendly experience. Players can store NFTs in a Vault and mint them onto the blockchain when desired.

For more details, visit openloot.com.

Pros

• User-Friendly Gaming Experience: OPENLOOT uses patented Vault technology to let players buy and sell NFTs without needing to connect crypto wallets, pay gas fees, or wait for blockchain transactions.
• Marketplace Features: It offers NFT rentals, easy listing, event scheduling, whitelist management, and a marketplace for non-crypto game currencies.
• Global Payments & Custody: Supports both fiat and crypto payments worldwide, simplifying transactions.
• Integration with Games: Partner games can allow spending OPENLOOT tokens to access content or buy items.
• Active Trading: Available on many exchanges with good liquidity, making it easy to trade.
• Supports Game Developers: Provides economy consulting and tools to help game creators focus on building games.

Cons

• Price Volatility: OPENLOOT’s token price can fluctuate significantly, sometimes underperforming compared to other cryptocurrencies.
• Market Position: Ranked around #1168 by market cap, which is relatively low compared to top cryptocurrencies.
• Limited Leverage Options: Trading platforms offer limited leverage for OPENLOOT compared to other crypto assets.
• Dependence on Gaming Ecosystem: Its value and use depend heavily on adoption by Web3 games and marketplaces.

For more details, visit openloot.com.

Founders of OPENLOOT

OPENLOOT is developed by Big Time Studios, a company known for its work in Web3 gaming. The founder of Big Time Studios is Ari Meilich. He is recognized as a key figure behind the creation and development of the OPENLOOT platform.

Investors in OPENLOOT

OPENLOOT is supported by a mix of investors including venture capital firms and strategic partners focused on Web3 gaming and blockchain technology. While specific names of all investors are not publicly detailed, the project has backing from notable crypto and gaming ecosystem players who believe in its vision to build player-driven economies and improve Web3 gaming experiences.

Strategic Partners

OPENLOOT collaborates with game studios and platforms like Big Time, a leading Web3 game, which helps drive adoption and growth. It also integrates with payment partners such as Coinbase, MoonPay, and Ramp to facilitate easy fiat and crypto transactions.

Community and Market Support

The token is actively traded on major exchanges like OKX, with a growing community of traders and users supporting its ecosystem. This broad market participation acts as a form of decentralized investment backing the project’s development and expansion.

For more details, visit the official website: openloot.com

Halal Status of OPENLOOT

• Answer: No
• Reason: There is no official or clear religious ruling available from recognized Islamic authorities or scholars specifically declaring OPENLOOT halal. Without such guidance, it cannot be confirmed as halal.