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1/ Loot is like . It has ignited the imagination of a community by giving us some basic primitives. It is clunky and limiting, but it is a working MVP. If the community energy persists, it is a BIG breakthrough. It is the first truly community-owned gaming platform
Replying to @avichal and @ethereum
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2/ Quick primer for those new to it. A Loot bag is an NFT that contains text. The bag is a collection of items each with a known rarity -- think , Magic the Gathering, or Pokemon It is now up to the community what games to build on top of Loot items.
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3/ Once you get your head around what it is, you can appreciate 's significance. Loot is the 3rd major NFT innovation 1st breakthrough: collectibles (CryptoPunks) 2nd: generative art () 3rd: community-owned gaming ()
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4/ When created it's like he created the 6-sided dice or the 52-card playing deck. There will be myriad games built on top that everyone can play and no one owns. I believe there will even be multiple universes and stories with their own cannon, not just one
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5/ Counterintuitively the fact that there is no game at launch is precisely what makes Loot interesting. Owners cherish their Loot because they choose what the Loot means to them. It is up the community to invent meaning and value.
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6/ This is the first time an NFT ecosystem will have value imbued from the community rather than the creator. It inverts the current model by which NFTs are created and valued. Hence it is the 3rd major NFT breakthrough imo.
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7/ If Loot works, it could enable the interoperable game platform that gamers have long desired - take your Divine Robe and Katana with you between games because developers finally have a way to interop. Like it would be owned by the community, not a company
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8/ Like all community owned projects it will have its hype cycle and deep trough of disillusionment to come. Loot will have to survive at least one existential crisis - a vampire attack, hack, or critical design flaw. If it survives, the community will come through stronger.
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9/ Perhaps a currency like $AGLD ties it all together. Perhaps the original Loot bags are like the original Gutenberg Bibles...many copies will be made but the originals are extremely valuable. Or maybe it's all worth $0 because anyone can play - but that's still incredible
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10/ The current state of things is messy. But community owned projects are always messy. A community takes time to figure out its norms and values. But I have never seen anything like what's happened with the community in the last week. It's weird, wild, and so fun
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11/ Disclosure: This is not investment advice. Do your own research. And yes, I do own Loot. I like the community (even more than I like the Loot).
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