The Flip to Lootverse: The Metaverse for Grown-Ups, By Loot NFT Co.
The first simplistic base layer of the interactive Lootversian map has been released at lootverse.com. The 4,880 NFT plots of our parallel world are now a series of X-Y coordinates. In addition, the different Lootversian portals (including Loot Arena, The Fund, Satoshi’s Lounge, The Government, Lootnance, etc.) are now accessible directly from the map.
[Note that we are still working on the user experience, several UI, and backend elements. Please, keep this in mind when navigating, as upgrades will be coming over the next few days and weeks. To support our team, report any issues on our telegram or discord group.]
As we have done since the start of our metaverse project, our strategy is to release minimum viable products and iterate with real user feedback. We are not perfect but always attentive to resolve matters quickly and evolve.
- The Unifier and the beginning of the Fabric, the Lootversian Internet
The map is the unifier of our work (the seven sites we built) over the past eight months. Generally, metaverse projects start with the killer app (i.e., game layer) to get adoption. This approach is also easier to communicate and raise capital. We did the reverse. We built very complex pieces of technology in segregated silos first, did not raise capital, and worked hard in communication; this is like different parts of a car coming together with people having a hard time visualizing the end result.
We are now in the process of bringing the pieces of our metaverse together within the Lootversian map. Hence, from the start, the map has more depth and meaning, and some are now able to peek into the true enormity of what we are collectively attempting with Lootverse.
For more, see our Consultative Paper here.
Lootverse is a product by Loot NFT Co and will be administered in parts by the Lootversian Foundation later. In the next few weeks, the lootnft.io domain will become the Loot NFT Co — Corporate and Foundation — site only. All other sites that currently share the lootnft.io domain name (Loot Arena, Satoshi’s Lounge, and others) will migrate to lootverse.com and various subdomains.
The landing page for our world will then shift to lootverse.com. Users will land on a familiar and intuitive map like Google Maps. There, they will be able to register, login, search plots, and navigate our world, where each plot, building, unit, star, and more, are NFTs.
Want to go to The Fund? Type in “The Fund,” and the map will zoom in to The Fund’s location. Click on it, and you can now manage your NFT assets, in-world vendor portals, NFT creations. Want to go to Loot Arena? Search for “Loot Arena.” Want to see the stars? Change your view to the Sky Map layout on the side icon. Want to see plot numbers? Search for it and turn on the “Plot Numbers filter.” Want to check out natural resource fields? Turn on the filter or search the field name. We will also introduce bookmarks for quick visits.
Our thesis is that familiarity makes for an intuitive interaction for users. It is the light layer for experience seekers instead of the complex enterprise product we have built so far for world builders.
1.1 The History
By mimicking reality, we evolved one step at a time (our community members now know us for saying, “one step at a time”). Our first map was like an old-style map, with PDF and paper, almost like a Columbus era style map. Then, we evolved to interactive maps. This shift builds history and culture that should make our world feel alive (and is difficult to replicate by anyone). Our NFT land title details can also have historical significance and value.
From this:
To this:
1.2 The Psychology
Modern life behaviors also guide our approach.
During COVID, people went weeks without leaving their houses and relying on what was presented to them on a screen. As a thought experiment: if Google shows a street view, most would believe it to be the truth. If Google changed that picture, they could manipulate reality. Further, if someone doesn’t leave their house (works from home) for an extended time and buys online, holds Zoom meetings with an enhanced backdrop, and earns remotely, we posit their reality becomes that trust in the source of online information. It is as accurate as real life.
A parallel world can feel just as natural while taking some liberty with fantastical items. Why couldn’t people go on the Lootversian map and order a Lootversian item that gets delivered to their door? The first orders for physical items requiring delivery are currently being done from Satoshi’s Lounge. Why couldn’t this be food, games, or other needs, thereby turning the map into a metaverse ubiquitous app store?
Why couldn’t McDonald’s take out an NFT billboard by paying rent to a plot owner on the highway? This could direct those that click the billboard through a wormhole (see below) to the McDonald’s website in their region. Or, more importantly, why couldn’t McDonald’s just set up a building in the metaverse to be accessed within the Lootversian Fabric (Lootverse’s makeshift internet)?
These possibilities are fairly staggering, especially because each plot could host its own portals for gaming, VR, AR, 2D, and 3D environments. Using a federated server infrastructure hosting system, NFT keys used can access server spaces to provide load balancing and cost distribution.
1.3 The Fabric
One essential element that will be introduced shortly is the Fabric bar.
Let’s say you want to have a photorealistic VR experience, you could go to a unit (if it is yours or you have been invited or paid for it).
Or using augmented reality, where only items in Lootverse show on the mobile screen, creating a seamless shopping experience. People in the real world would not see these products. Only Lootizens would access the items, connecting in the Fabric through their phones.
Since we built the financial underpinning of Lootverse first, the LTT is either used to buy the items or as fuel (hidden away) for the purchase of an asset or product. We aim to drive seamless commerce.The transaction is made directly through the Fabric to the store owner, who receives the consideration as the purchaser receives the item. Underlying this is a shipment process that is already in use in Satoshi’s Lounge for physical items.
Manage customer physical purchase flows. We are currently working on the chain of title custody for physical items, or NFTs linked to physical items (will be available from the government), which will provide value to shoppers.
1.4 Our positioning in the market
We expect most Lootizens will not associate as crypto community aficionados. We utilize blockchain tokenized assets where it makes sense.
Take the example of John, a business owner wanting to access the metaverse.
John wants to sell his product in return for a stable currency (i.e., USD) and provide the best service to Peter. Peter does not want to deal with price volatility and wants to spend USD to receive John’s product in as few steps as possible. John and Peter do not care much for crypto, even less about volatility, but they see value in being in the metaverse.
We have Credits as an in-world stable virtual currency for this purpose. Here, Peter pays John in Credits. John receives USDC Credits (which he can send out of the ecosystem). Two things happen in this case in Lootverse:
(a) In seconds, the Credits paid by Peter are used to buy LTT, pay for the product, and John converts $LTT to USDC Credits. Peter receives the product; John receives the USDC Credits.
(b) The USDC Credits can accumulate until such time that the Ethereum gas costs are acceptable before John transfers them to him. E.g., for low-value items, accumulation is preferred since the seller can send all in one go and pay one flat Ethereum gas fee. The seller has a choice.
Behind the scenes, LTT are transacted, Lootversian levies are paid, sometimes LTT are subject to burning, which increases the velocity of LTT, and removes some from circulation.
Metaverse App Store
Lootverse is a little like e-bay.
On the one hand, there are shoppers; on the other, vendors (what we call world builders and operators); and sometimes shoppers can also be vendors. The gated ecosystem of Lootverse that utilizes BUN, Credits, and LTT for interactions is like Sim City but with a great deal of realism. These currencies are in-game (what we call in-world) and are for experience seekers (shoppers, gamers, explorers, social interactions, work, training, etc.).
$LTT, USDC Credits (convertible to USDC ERC20), NFTs, etc., are held by vendors and are destined for Web 3.0 interactions. However, $LTT and USDC Credits always have a source from selling a product, service, or an item (like NFTs, assets, and more). They are not sourced (or valued) via speculative origins. They are instruments of utility.
This means that Lootverse is for everyone, from kids to business owners. It is also for those wanting to play-to-earn, for example, getting LTT from jobs, wars games, etc.
We will soon start migrating interactions to the map as well. Put up a for sale sign, a person clicks on it and pays the seller seamlessly from the map. Want to drop an NFT set; create it, list it on your plot, and drive traffic there? We are framing out making available Satoshi’s Lounge and Loot Arena auction engines for auctions by portal operators. Combined with wormholes (see below), this could lead to an elegant way to invite fiat users, any crypto-community, any tokens, from any chain to be used within the Fabric of Lootverse. That is, of course, if they want to be a part of a parallel world. The underlying driver of all interactions in some form must be the LTT.
Wormholes
We could geofence a plot only allowing KYC individuals living in particular areas to access a wormhole (like a portal with the difference that all forms of payments — credit cards, crypto, etc. — can be offered when selling the items).
Wormholes can accommodate real money gaming from licensed providers in the relevant jurisdictions or other licensed activities. Wormhole operators pay rent and something akin to HOA fees to maintain the portal. Unit owners receive the rent, and HOA fees will be burned for the benefit of the ecosystem. This opens up Lootverse to any activity with little friction. There is no need to readjust existing business models or payment processes in place, but some pre-conditions will have to be met.
Advertising
It is possible for us to innovate in the field of advertising. We have ten zoom levels for our map which we can show and display advertising on. Take, for example, McDonald’s wanting its billboard to be seen at the topmost level of zoom, which may have a different price point to someone at zoom level 10. Here, what’s interesting is that advertising burns LTT. This can combine with pay-per-clicks, and other forms of attention drivers for customers to plots.
Ending on a little secret about Plot Numbers
All plots are fairly large and should be considered districts or counties. The plot number is the Zip Code of that district/county (e.g., H011, L0123, and so on). When a building goes up, it is labeled. A unit in that building is also labeled. When placing buildings and creating units, the plot owner must also choose a street name for any street they place on the plot. Hence a portal operator‘s address could be:
Business Name, LALL
Unit 1–1, building 1, Roy Street
Isle of Talos H011,
Lootverse.
There is much more that we can share about where we are and the possibilities we have in Lootverse, and we will likely do a video to walk through this shortly. In the meantime, we focus on executing as we have done in the past. One step at a time until we reach our goal.
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Visit Lootverse: lootverse.com
Learn more about Loot NFT Co: lootnft.io
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