Loot NFT – The Text-Based NFTs Booming in Digital World

• Loot- a collection of 8000 text-based NFTs
• These NFTs were created by programmer Dom Hofmann

Non-Fungible Tokens (NFTs) have created a boom in the digital world due to their uniqueness. Each NFT is one-of-a-kind and has fostered an amazing bottom-up approach to community building. These tokens attract a large group of netizens who desire to own and showcase them.

NFTs like Bored Ape Yacht Club and CryptoPunks have a massive community and following. However, these NFTs feature images of some characters that make them unique. But, have you ever heard about NFTs that have text inscribed on them? Well, in this blog, we will discuss text-based NFTs that have cultivated a large community of followers and enthusiasts.

Loot – A Collection of Text-Based NFTs

Loot is a collection of tokens with no image or graphics. These on-chain NFTs are text file that allows anyone to create themes and equipment. Each Loot NFT contains 8 pieces of randomized adventure gear, including armor and weapons, and many more things. The project claims that it is specially designed for adventurers.

The NFT project was created by programmer and entrepreneur Dom Hofmann in August 2021. Dom Hofmann is also known for co-founding the video-sharing platform Vine. The project was launched without any prior marketing; rather, it was initiated through a single tweet fromDom which brought this project to life. 

There are a total of 8,000 NFTS Loot bags out of which 7,777 were claimable by anyone. While the remaining 223 tokens from 7,778 to 8000 were reserved for the creator, Dom Hofmann. Currently, these NFTs have a floor price of 0.2846 ETH and a total volume traded of 75,843 ETH. 

What Makes Loot Unique?

Loot is unique as it has no company, art, team, or attributes. It serves as an the unfiltered, uncensorable building block for stories in the hands of the community. Moreover, it holds significant value from a decentralization aspect. Within a week, loot holders had their own currency Adventure Gold (AGLD). Each of the 8,000 initial Loot NFTs received 10,000 AGLD as an airdrop.

What Is Adventure Gold (AGLD)?

Adventure Gold (AGLD) is an ERC-20 Token built on the Ethereum Blockchain. AGLD allows holders to collect 10,000 free tokens. The entire supply of AGLD is 75.3 Million.

The founder of Adventure Gold was Will Papper. These tokens grant  voting rights or governance powers to the token holders. 

Why Is It Popular Among the Community?

With a trading volume of 75, 843 Ether, it is natural to ask what makes the loot popular among the community. The main reason for its popularity is that it taps into the creativity of its users and community. It allows them to feel like an adventurer and gives them a sense of excitement. While other NFTs are managed by some company or platform, Loot provides users with a free approach so that anyone can participate and contribute. 

Concluding Thoughts

Loot has sparked curiosity among the minds of netizens through their unique NFTs. The project brings a whole new ideology to the NFT space. However, its future ultimately depends on the community, as the entire project is maintained by the users and not by any company.