Introducing LOOT — The EPIC Gaming NFT Marketplace
While markets go sideways, we use our time wisely. Our team hasn’t stopped building, and we have set our goals high for 2022. On a plan to create the ultimate synergized network for on-chain products and services, we are thrilled to present you with the next big product by YAY Games.
Meet “LOOT”, the ultimate gaming NFT marketplace. The all-in-one place to swap, trade, or buy gaming-related Non-Fungible-Tokens. In the following article, we will describe what makes LOOT unique.
1. What’s special about LOOT?
The current market is flooded with Non-Fungible-Tokens (NFT) Marketplaces. Nevertheless, they seem not to bring any new trait or unique value to users. Built with a seamless UX/UI, LOOT is a special NFT platform that more than enables NFT trading across the platforms, using multiple Decentralized Finance (DeFi) mechanisms.
As mentioned above there are no marketplaces tailored especially for gaming within any blockchain. Even though some of them might have similar features, there is no ecosystem of products and services that can work with such symbiosis as LOOT, with the end goal of giving additional incentives to platform users.
Marketplaces are mainly split into 2 categories:
- Overall NFT Marketplaces: with Non-Fungible-Tokens of all sorts without any conjunction for gamefi;
- Specialized Marketplaces: Built for specific gaming projects that sell only relevant in-game assets;
LOOT allows users to find, and navigate freely within every gaming NFT available. The value of these items and other in-game assets of any game project located on the LOOT Marketplace is confirmed and verified by YAY professionals. Users have no need to be on a never-ending search when searching for their NFTs.
At YAY Games we believe that decentralization is the way to go. Therefore, the next step is to build an open decentralized community in which participants have equal rights. Implementing a Decentralized Autonomous Organization (DAO) system. Therefore all projects that want to be placed on LOOT will be reviewed and chosen by the community.
In addition to this, we plan in the near future to provide packaged smart contracts solutions to enrich the GameFi sector. Solutions that will not only allow the distribution of NFTs, but also fully design the blockchain component of a project, as well as, support these blockchain-based products with multiple components (frontend, backend, etc). This solution will allow everyone to create their own GameFi project with significant savings in efforts and money-wise.
2. How can our partners use LOOT, and gain value with it
Our partners can directly sell LOOT assets without using third-party solutions. When it comes to attracting traffic, then there is no problem, you can drive traffic to any marketplace. But if there is a task to get the community interested and react to advertising, then LOOT is perfect for this. Positioning drags everything.
In case there is a need to make a marketplace inside the game, without resorting to expensive outsourcing solutions, or sleepless nights, LOOT offers a modular solution that can easily be integrated with any on-chain product. Thus being, games (any GameFi NFT protocol) or another special entry point, being able to sell everything you need on your marketplace (made by us) for your own native token or optionally for $YAY. Users can independently decide where and for which token to sell their assets.
In addition to the NFT Marketplace, YAY Games has plans in the near future to provide blockchain protocols to enrich the GameFi sector. Zero-code solutions that will not only allow the distribution of NFTs but also fully design the blockchain component of a project using a mouse or touchpad, as well as, support this project with multiple components (frontend, backend, etc). This solution will allow everyone to create their own GameFi project with significant savings effort and money-wise.
3. How will stakeholders profit from it?
Since YAY offers the ability to sell NFTs in exchange for the project’s native currency, and on LOOT, you can only buy with YAY. We offer the ability to sell both here and there with integration, it’s completely up to the user. If it’s the case that a sale occurs in $YAY, the protocol needs to dynamically equalize prices in $YAY and in the native token.
Our solution is completely on-chain (fully decentralized), prices are taken from liquidity providers. Since there are no automated ways to perform such action (theoretically, this is possible, but in this case, the price would be updated only in on-demand mode) within the blockchain, we have opened the possibility for any user to update prices and receive a reward for this.
Anyone who wants can call a method on the Smart Contract in order to equalize prices and set the current price for LOOT. We will calculate the gas spent on each operation, return it and add a reward bonus in $YAY Tokens.
There is a 5% commission on LOOT, a significant part of which is distributed as a reward to users of the ecosystem.
4. How will this affect the Avalanche ecosystem?
AVALANCHE is one of our longtime partners and Blockchain of choice, it provides the ability for faster and cheaper transactions, which makes it the go-to place when talking about the blockchain gaming sector, diminishing one of the largest gaps within the industry, high transaction fees.
As for now, and in the long run, LOOT is fully built on the AVAX network, as we consider this the top-notch direction to attract new gamefi developers, for whom there are faster and cheaper ways to implement the most daring ideas in their products. Moreover, for the user, LOOT brings a convenient and single entry point into the world of gamefi.
About YAY Games
YAY Games is a decentralized game publisher that aggregates a wide range of games focused on Play-2-earn, NFTs, and DeFi.
As the ultimate GameFi brand, YAY Games also works as an Incubator thanks to its Initial Game Offering (IGO) Platform “Zeus” — allowing top gaming projects to have access to the expertise, large community, and sophisticated game mining architecture.
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