For those of you that missed the Open Loot AMA, here is a summary that may help clear up some questions and concerns about it. I want to state I do not represent Open Loot, this is my understanding of how it will work.
What is Open Loot?
Essentially we have already been using Open Loot which is currently the Big Time Marketplace. Open Loot will bring the features of the Big Time Marketplace to other Web3 games looking for a place to allow their players to buy and sell NFTs.
Will there be new Marketplace Features?
Yes, additional Marketplace features will be available that will bring value to Big Time NFT holders. For example, on the Open Loot website, it shows there will be an Auction feature. This will be important because Big Time NFTs have a limited supply, once they are sold out in the Marketplace and no longer available to buy at a fixed price, you could create an Auction for these high value items and sell them to the highest bidder. This is also useful for low issue ID numbers that collectors may want to pay a premium for.
Will Open Loot Distract the Team from Developing Big Time?
No. Most of Open Loot is already built and operating. This update simply allows other Web3 games to leverage the robust Marketplace system we are already using to buy and sell Big Time NFTs.
Ok, so what’s in it for me as a Big Time Player?
Additional Marketplace features like the Auction system and added exposure to Big Time through other Web3 games should help onboard more players to the Big Time ecosystem.
Won’t sending people to other games Dilute the Big Time Player Base?
This is a concern that should be addressed by the Big Time team. In theory, gamers from the other games added to Open Loot will see Big Time and it could add to the player base instead of reduce it.
If you have any other questions or concerns, please post them in this thread and maybe we can get some answers from the Official Open Loot Team. I hope this was helpful for everyone. In short, Open Loot does not change anything for Big Time, it should add more features and potential players to the Big Time Marketplace ecosystem.
This is an awesome summary and thank you for taking time putting this thread together!
While this AMA is essentially a promotion of Big Time Studio’s new product Open Loot, many BigTime Game players will actually benefit from it by gaining access to advanced market features such as the Auction System. Big Time game NFTs will be accessible to more gamers which is another benefit for the Big Time game economy. Also Big Time community members will enjoy easy access to NFTs from other games.
The purpose of collecting questions for the AMA was to prepare for best answers. However the answers we heard during the AMA was confusing and didn’t seem to be well prepared. Hope this can be improved in future big announcement AMAs.
All the best to Open Loot and hope us Big Time EAL gamers will have early access to the beautiful features!
In the open loot website it says “Loot Boxes”. And it also says that items can be sold via normal sales,auctions and LOOT BOXES. Well my concern is that,i hope its not like the infamous loot boxes in web2 gaming. Loot boxes are banned in many countries. Loot boxes are gambling,you open a box(costs money) and hope you get something good. But since this is web3 i hope this is not the case.
Certainly Here is in Japan. Crypto Loot boxes are not allowed by law.
So hope they won’t sell any loot boxes. Only that they give us NFT like Big Time right now.
I just read a mail from BigTime about the Open Loot. I couldn’t attend their previous AMA, so finally I could know more information about it.
Imo this is the largest announcement in BigTime. It’s Huge. I don’t know which started developing first.
I think BigTime was made for the Open Loot marketplace as it’s benchmark for the advertising.
That’s why they got the patent. It’s kind like Open Sea made a game for their Market platform.
In my imagination, BigTime token name could be LOOT token. It’s kinda eBay for game Devs.
This is amazing News guys!
Agree. And it could also be a launcher for web3 games,which is very cool.
your thoughts on the difference between a loot box and a mystery box?
actually mystery boxes are kinda like loot boxes. i was just thinking of the web2 lootboxes.