Document Details

Title

Loot NFT Infographic

Uploaded On

28-May-2021

Loot NFT Co LLC

USPTO Patent Pending 63/173,415. Copyright 2021; All rights reserved, Loot NFT Co LLC, WY, USA. brain info@lootnft.io NOTICE TO BID UNIT (BUN) PURCHASERS BUNs will not be listed by Loot NFT Co LLC, or any of its officers, agents, affiliates, assigns and employees on any secondary marketplaces. We will not support nor participate at any token indexing sites, such as coinmarketcap.com; we will not trade BUNs at any exchange. While the BUN is a Cardano blockchain token that can be secured in the custody of its owners, its intended use is solely in battle bidding auctions for NFTs or to redeem for other benefits at the Loot NFT website. What is Loot NFT? Loot NFT is a gamified auction platform where members bid for non-fungible tokens (NFTs) using bid units (BUNs), tokens of limited supply. Membership is by invitation only. Combining a limited supply of BUNs with a time-locked wallet generates a crazy type of entertainment. Our patent pending process can now be experienced by our members. Warning: the game mechanics on Loot NFT is an experiment that may lead you to being glued to your screen for hours on end. These activities are built on the LNFTxHABN permissioned blockchain which is expected to interact with the Cardano public blockchain using a bi-directional smart contract bridge for a decentralized experience. Where We are Heading We aim to be a trampoline for creators, known or unknown, from across the world to find commercial success and to engage our members in highly entertaining auctions. We also aim to eventually entrust the running of operations to member governance in the form of a decentralized autonomous organization. The Bid Unit (BUN) All BUNs spent by members go to the Oven, a time-locked wallet that empties every Sunday and distributes BUNs to members as rewards and to Loot NFT for resale. Members get rewards based on their cumulative participation in auctions (i.e., how many bids they have spent in auctions since joining, and over the 7 days before the Oven distributes BUNs) pro rata the total participation of all members over the same time period. Early-Bird Bene ts We always aim to reward our early supporters, without whom we would not be here. Beyond the bonus BUNs, they get badges granting them benefits, such as the waiver of fees for NFT re- listings, and referral bonuses. They can also get a Pioneer Badge which entitle them to earn USDC commissions from all their invitees' purchases until 31 December 2022. Conditions apply. For more information, see our "Timeline" document. Blockchain Technology The BUN is a cryptographic token limited in number and member interactions are recorded and audited by the blockchain. Battle Bidding Battle bidding is the process of competing for an NFT with other members by bidding one BUN at a time. Members cannot outbid themselves, and each bid made is debited from their account whether or not they win (pay-to-bid). Any bid that comes through during the last 15 seconds causes the timer to reset back 15 seconds. The last person to bid when the timer expires wins the NFT. Members can also use a bid bot, which bids on their behalf in the last 15 seconds up to a BUN amount they have specified (e.g., for members that want the bot to bid while they are away). Loot Vault An underground temperature-controlled facility that houses the physical creations that are sold as NFTs. All creations are catalogued by an independent third party; this is made publicly available in the "Manifest" section of our site. We may display creations in galleries or museums. Membership Details Your email must be whitelisted to sign up to Loot NFT. You may do this yourself at lootnft.io before 30 June 2021. Failing this, a member must whitelist your email address for you to sign up. We have three sign up stages with various benefits. For more information consult our "Timeline" document. 21 - 25 June 2021 Open to people with email addresses whitelisted before 15 June 2021. Members joining during this period get 1 bonus BUN per BUN on their first purchase and additional member benefits. 25 - 30 June 2021 Open to people with email addresses whitelisted before 24 June 2021. Members joining during this period get 10 bonus BUNs per 25 BUNs on their first purchase and additional member benefits. 1 - 10 July 2021 Open to people with email addresses whitelisted before 30 June 2021. Members joining during this period get some member benefits. Anyone that has whitelisted their email address by 30 June 2021 can sign up at any time in the future. 5 NFTs listed in June. Thereafter, we aim to list 1 NFT per day. More information and whitelist email at LOOTNFT.IO BUNs are tokens used to Battle Bid for NFTs. 500,000,000 BUNs 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 jaw-dropping 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 BUNs out of the Oven rewards. This caps out at the 5th degree (the legendary status degree). For Member Rewards (~100,000,000 BUNs) For Sales (~400,000,000 BUNs) Oven Rewards