Big Time Studios has announced its new marketplace utility token OL.
The token won’t be sold or distributed to investors or even the Big Time Studios team. Instead the fair launch will be distributed via a points system that users of Big Time’s Open Loot marketplace will earn as they complete various activities on the platform.
The OL token will go live on exchanges such as OKX on 19th November.
As well as being the platform for RPG Big Time, Open Loot is the platform for thirdparty games such as MMORPGs World Shards and Boss Fighters, loot shooter The Desolation and FPS ShatterPoint and One Tap.
Hence there will be an airdrop for players and purchasers of assets of World Shards, Boss Fighters, The Desolation and One Tap.
As for its utility, OL tokens will provide early access to games and waitlists of NFT launches, as well as discounts of premium currency packs and NFT sales. On the other side of the trade, game developers will be able to use OL as a marketing reward for in-game activities.
The token will also be used to power the Open Loot Chain.
“We’re flipping the script on token launches. Instead of the usual fundraising frenzy, the launch of $OL is about giving back to our incredible community of players and game developers – from lower transaction fees and exclusive premium currency bundles to invite-only early access to Open Loot games, special NFT sales, tokens in-game drops during exclusive gameplay, and in-game perks,” said Big Time Studios’ founder Ari Meilich.
In the first half of 2024, Big Time says that Open Loot has been used by over 226,000 users who have crafted over 3.6 million NFTs.
Find out more at the OpenLoot website.
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