Open Loot
Crypto Overview
Overview
Open Loot (OL) is a gaming-focused cryptocurrency that aims to provide an open standard for in-game assets and virtual items across different gaming platforms. The project's stated purpose is to enable true ownership and interoperability of gaming assets through blockchain technology.
Purpose and Utility
The primary utility of Open Loot includes: serving as a governance token for the Open Loot protocol, enabling trading of in-game assets, and providing a standard for game developers to integrate blockchain-based items. Users can own, trade, and transfer their gaming assets across compatible games.
Current Development and Usage
The project is in early development stages, with limited current adoption. The development team is actively working on SDK implementations and partnerships with game studios. The GitHub repository shows consistent development activity, indicating genuine effort to build the promised technology.
Token Distribution
Token distribution information indicates a balanced allocation with vesting periods for team members and early investors. 30% is allocated to the ecosystem development, 25% to the team (with 2-year vesting), 20% to community rewards, 15% to early investors (with 18-month vesting), and 10% to liquidity provision.
Business Model Analysis
The business model focuses on creating value through gaming asset standardization and interoperability. Revenue comes from protocol fees on asset trades and developer integrations. The model doesn't involve interest-bearing mechanisms or gambling features.
Crypto Impact
To assign a comfort level investing in Open Loot from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Open Loot.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.