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USPTO Patent Pending. Copyright 2021; All rights reserved, Loot NFT Co LLC, WY, USA. brain NOTICE TO MEMBERS (1) Bid units (BUN) are accounting units used to calculate the proceeds of battle bidding auctions. BUN are purchased at a fixed value equivalent to 0.20 USDC ERC20 each, a cryptocurrency pegged to the US dollar, and is not a financial product. (2) Loot NFT introduces game mechanics that are untested and should be treated as an experiment. (3) Loot Tickets (LTT) are cryptographic tokens mined by members through their bidding activities. Loot NFT Co LLC does not own LTT and, therefore, cannot support nor participate at any secondary markets or token indexing sites. Loot NFT Co LLC is a member of the Wyoming Auctioneers Association. Copyright 2021, Loot NFT Co LLC, All Rights Reserved. USPTO Patent Pending. What is Loot Arena? On Loot Arena, miners bid at time-based auctions to mine Loot Tickets (LTT) and win NFTs from talented creators. LTT are mined based on a miner's mining ratio (i.e., how many BUN they must bid in an auction to receive 1 LTT). Access is by invitation only. LTT are redeemable within the Loot NFT ecosystem for products and services (e.g., virtual plots in Loot NFT world, physical and digital items, and more). Miners can also send LTT to their cryptocurrency wallets (coming soon). Loot Arena is like a virtual motherboard, where miners follow circuits with the aim of winning NFTs and mining the maximum possible LTT. They can use life-like products in a contained environment, such as staking, selling LTT at a marketplace to grow their influence. Where We are Heading We have two primary goals. The first is to create a digital currency issuance mechanism that drives value to talented creators and good causes, along with sound tokenomics proportional to ecosystem's engagement. The second is to grow our ecosystem towards a decentralized autonomous organization. Battle Bidding Battle bidding is the process of bidding in auctions on Loot Arena. The rules are simple, but the strategies are endless. Miners bid one BUN at a time in time-based auctions. A bid received in the last 15 seconds of an auction resets the timer back to 15 seconds. The last miner to bid when the timer expires wins the NFT. All BUN bid at auctions are spent (not refundable) and convert to LTT based on a miner's mining ratio. We set out to create a mining protocol that paid talented creators and good causes, instead of burning energy, paying electric bills and hardware manufacturers. Today, several creators around the world have benefited from our Proof of Play protocol. LTT are used across Loot NFT products: Redeem LTT for products and services. Manage land in Loot NFT World. View Loot NFT World and its stories. High-value exclusive auctions. Permissioned blockchain environment. Ecosystem Products The Bid Unit (BUN) All BUN from auctions go to the Oven, a time-locked wallet that empties every Sunday and distributes BUN to miners as rewards and for purchase. Miners get bonus BUN based on their cumulative participation in auctions (i.e., how many bids they have spent in auctions since joining the last week before the Oven distributes) pro-rata the total participation of all miners over the same period. Blockchain Technology We use blockchain technology in three ways (functionalities released over time): Track and mirror all transactions on our permissioned-blockchain, Allowing LTT and NFTs to be custodied by their owner (edge-extractions), and The dismantling experiment of centralized operational modules towards a Decentralized Autonomous Organization (DAO). Loot Facility We have 2 custody facilities for NFTs worldwide (one in underground mines in the USA), which we put at the disposition of Curators, free of charge, for all physical NFTs sold on Loot Arena. These are temperature-controlled and insured facilities with manifest administration. Curators may also display creations in galleries, which note, amongst other things, the username of its owner. Loot Tickets (LTT) LTT is the native currency of the Loot NFT ecosystem. They are used to buy virtual real-estate, real-world items, inviting people, paying dues for member governance, and more (some functionalities coming soon). BUN are tokens used to Battle Bid for NFTs. 500,000,000 BUN Total Supply. No Team Allocation No Reserves 1 Reward 2 Reward 3 Reward 4 Reward 5 Reward Each NFT on auction is unique (1 of 1) and belongs to a set with a particular theme. Each set contains 5 NFTs. A full set that is collected unlocks a mystery gift. Members that collect a simple majority of a set (e.g., 3 out of 5 NFTs) achieve a Degree (i.e., a status level). Each Degree gives them more BUN out of the Oven rewards and lowers their mining ratio. Miners can get up to 5 degrees. For Miner Rewards (~50,000,000 BUN) For Sales (~450,000,000 BUN) Oven Rewards the fund LOOT NFT WORLD More information