What Is Game Loot Network Platform?
The main difference that this platform has from any others that you can find online is that this one has its own native cryptocurrency called LOOT. By using this utility token you can get rewards that you can use in and outside of the games offered by the company, which makes it a decentralized platform for gaming.
The company also has e-sport tournaments that have prizes in LOOT tokens. The LOOT tokens can be exchanged by real money or used on the games to obtain prizes.
Game Loot Network tries to differentiate itself from the competition by using a real currency instead of scores or empty achievements. You play the games and you are rewarded with something real. The games will be curated by users just like Steam so you will always have access to the best and more suitable options for you while you play on the platform.
Crowdfunding On The Game Loot Network
Developers will be able to use the LOOT tokens to crowdfund the release of their next games by using the Game Loot Network. The LOOT tokens will be given by users who believe in the potential of these games.
After the games have been launched on the platform, the investors will be able to receive a fair share of the revenue generated by the title on the platform, which can create a sustainable model of funding games in the Game Loot Network.
LOOT Token ICO
The LOOT tokens will be the basis of this new platform. They will be the reward of the players and can be used to invest in new games, bid on online auctions, enter tournaments, purchases boosts and cosmetic items and you will be able to receive them by playing. If you want to buy them before the launch, though, you can always invest in the ICO.
If you are interested, the LOOT token sale will start on May 29, but the private sale is happening at this moment. If you want to participate, you have to be whitelisted first. Each token will cost $0.35 USD in the main sale but you have the option to get some discounts if you buy them first. The sale ends on July 21.
Who Is Behind Game Loot Network?
The company was founded by three people interested in making a lucrative platform for games. Lance Baker (founder) is the main architect of the network and he has been working with technology since the dawn of the internet. Douglas Kinney (CEO) is an experienced manager and Patrick Baggette II (CFO) is an accountant with years of experience.
The main sponsors of the company Brain Cloud, BitHeads, Crowd Machine, Play Brains, Uphold and Get Set.
Game Loot Network Crypto Coin Conclusion
This is another company that intends to make gaming more profitable by monetizing it but will its games be any fun? We see companies falling again and again to “monetize” games because they cannot simply understand that games need to be good and fun to be profitable.
If you look at the creators of the platform, their idea is not really bad, but will the games be any good? Hard to say, really, so invest with caution in this company.