The latest trend in cryptos is to play games before they are even built

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The crypto game has taken a strange turn.

The new trend in town is creating characters, taking them on adventures and leveling them up, as well as buying in-game items and other traits, all for games that don’t even exist. not yet.

And here’s the second take. Those who donate the items do not intend to build the game. It is entirely up to the community to do all of the heavy lifting. And yet, without any guarantee of future usefulness, these objects and artefacts sell for millions.

Where does all this come from?

It all started with something called Loot.

On August 27, Vine co-founder Dom Hofmann tweeted that he would be, dropping an odd experience after already teasing the project, describing it as dungeons and degens. Hours later, he announced Loot, describing it as random adventurer gear and stating that there were only 6,000 bags.

He provided a link to an Ethereum contract. Members of the crypto community used this contract to create the bags and send them to themselves. It was free to claim the bags but you had to pay a transaction fee. The 6,000 bags were recovered in less than four hours.

Each bag contains 8 items for a supposed adventurer, some clothes and a weapon. They’re all named like any mythological game, with items like dragon skin armor or a platinum ring of wrath.

But these are not real bags, or even digital bags. It is simply white text on a black background, saved as images and issued as non-fungible tokens, or NFTs. They look like this:

Bag # 2088, which last sold for 14 ETH ($ 54,600). Source: OpenSea.

The wacky idea is that game developers can create one or more games around these collectibles, assigning items that match the attributes of the bags. So whoever owns the bags can access these items in these yet to be created games.

Loot is the unfiltered, uncensored building block for stories, experiences, games and more in the hands of the community at no cost, its website describes.

And despite the lack of any secure future, these bags have become incredibly valuable. Currently, the cheapest price for any loot is 12.4 ETH ($ 48,360), while the highest sale to date was just under $ 1 million for a single bag.

The crypto community has already started experimenting with these bags. A graphic designer has already created a set of AI-generated images representing the items in each bag. Synthetic loot holders can see a visual representation of their character. Additionally, there are already Decentralized Autonomous Organizations (DAOs) for loot owners, depending on the type of items they own, and a host of other services being created.

While the infrastructure is being built, whether it transforms into a full-fledged game or just multiple commercial platforms, Loot has spawned a range of similar projects and airdrops.

Booty, bloot and more oots

With the barrier to entry as low as the thought of a few thousand names and a bit of blockchain know-how, it’s no surprise that a multitude of projects have attempted to recreate the success of Loots and to roll on his heels.

There are versions of Loot based on different types of settlements for any game that wants to show towns through the ages as well as Loot for Cyberpunks, with items like the Gauntlet of Nightcity. In addition, there is Bloot, an NSFW [Not Safe For Work] version aimed at the crypto crowd with a more secure attribute called WAGMI’s Pixelated Tape an acronym for Were all going make it.

And there have been a lot of drops for such loot holders (and others). Any loot holder can claim a randomly generated NFT name for their character. Bloot holders each received 10,000 Gold Based Chips (BGLDs), a sum worth approximately $ 8,300.

Play a real game

Inspired by Loot, Yearn.Finance founder Andre Cronje created the core of a game called Rarity. But he went further than naming a bunch of articles.

Instead, he created the fundamentals of the game, on the Fantom blockchain where the fees are relatively cheap. To create a warrior, you interact with the contract address (or use this handy built txxnano website) and receive a token. This token represents the warrior you have chosen, whether it is a druid, a monk or a wizard.

A first version of a community way of interacting with the game. Source: txxnano.

Then you can basically play the game but in a rather boring way (until someone creates a UI for it all). Every day you can go back to the contract and interact with it in a way called going on an adventure. You can only do this once a day. Every time you do this your Warrior gets better.

And, while some of these are still in development, the idea is that you can then start doing things like making potions or choosing which skills to develop. And at level 2, you can start claiming in-game currency called Rarity Gold.

Now it all comes down to playing a game like World of Warcraft, if you were to just hit the full level instead of actually playing the game. But then again, someone has to build the game at some point. , otherwise all this upgrading will be for naught.

Cronje told The Block he didn’t have a vision for the game, he just “coded the rules, spells, achievements, crafting, adventure, etc.”

“What people do with it is up to them to decide,” he added. “I will create the world for them, but they should go on an adventure.”

2021 The Block Crypto, Inc. All rights reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial or other advice.

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