The Loot derivative problem & a solution
About Loot (For Adventurers)
The NFT game changed forever when Loot dropped on the 27th of August. Loot is the first NFT project of its kind and was created by VINE co-creator Dom Hofmann.
So what is Loot? Each loot bag contains 8 items: a piece for an adventurer’s chest, foot, hand, head, neck, ring, waist, and weapon. By itself it’s nothing, but add derivatives and it equals breakthrough economic incentive.
“Loot is randomized adventurer gear generated and stored on-chain. Stats, images, and other functionality are intentionally omitted for others to interpret. Feel free to use Loot in any way you want.” — DOM
Released to the public and free to the mint, the directions from Dom were “Feel free to use Loot in any way you want”. They all were minted in 4 hours.
Then came the derivatives all inspired by Loot’s creative direction — Abstract loot, Realms, $AGLD, etc. It was hard to keep up! The derivatives were clearly Dom’s intention, but we doubt he ever saw this velocity coming. Hundreds of millions of dollars in market cap were created in a week. Millionaires minted overnight; this is crypto after all.
The rise of derivatives is what the Loot metaverse was created for, but there are questions that need answers. All the projects are primitive building blocks for the metaverse, but what is the interoperability glue that sticks them together?
“How does a game arise from the many derivatives?”
“What actually is the Loot metaverse? ”
Although it’s fun trading rare NFTs, the novelty wears off and they are quickly becoming diluted with all the projects emerging. How many more derivatives are coming? We encourage all derivatives to be made — as long as they are made in the spirit of Loot. How do we as the loot community know what projects have utility in the Loot metaverse?
We propose a solution to the many derivative problems.
Consolidation and graphing of community projects into a single queryable graph, all voted on by the community.
Enter Bibliotheca (For Loot) — The Home For Realms
https://bibliothecaforloot.com
Bibliotheca (for Loot) is building the graph and interface for the Loot metaverse. Consolidating community voted on projects — starting with Loot, $AGLD, and Realms. Adventurers can now visit their dashboard to see their balances in all 3 projects, with mLoot & more coming soon.
Whoever this is: https://bibliothecaforloot.com/adventurer/0x930af7923b8b5f8d3461ad1999ceeb8a62884b19
He is currently winning the Loot game.
But let’s be real — the game is no fun if it is limited to only a handful of OG Loot bag holders. We need an expanded metaverse where millions of people can play the game.
Realms & Bibliotheca
We see Realms as the crucial element in the metaverse. After all — what’s an adventure without a Realm to explore? Bibliotheca and Realms are working together on this adventure and we need your help.
We have big plans for the resources in Realms — which we cannot wait to explain in-depth, but first, we need to build the glue.
The first step is getting all resources and Realm data on-chain. Hint hint….
The final 2300 Realms are still available to mint for anyone at 0.1ETH.
See instructions here:
https://twitter.com/LootRealms/status/1434881068990177283?s=20
What comes next?
We are building a framework to allow easy inclusion of community projects into Bibliotheca. This comes with technology and governance problems to solve.
We will be launching a Realm DAO soon which will allow all Realm owners to vote on the direction of the Bibliotheca. This aims to solve the derivative problem. However, in the future, the DAO may vote on including other project holders as voters.
Bibliotheca was born less than 3 days ago. We are looking for builders to help craft the glue that sticks the Loot verse together. If you have skills we want to hear from you. We are crafters and builders looking to design a Bibliotheca that lasts the test of time and becomes the cornerstone of the Loot verse.
Join in on the conversation in the discord and be a part of this rapidly expanding metaverse with infinite potential.
Join us — https://discord.gg/EU6Y6pA79S
