Big Time Studios is launching the $OL utility token for its Open Loot platform, which has processed $500 million in transactions. The token will serve as the foundation for the platform’s ecosystem.
Big Time Studios, a Web3 gaming pioneer and the developer of the popular game Big Time and the Open Loot platform, is once again generating headlines.
Big Time Studios Project
The company has already processed a half billion dollars in total transaction volume. Active users of the Open Loot platform will soon have the opportunity to accumulate $OL, the marketplace’s inaugural utility token, which will serve as the foundation of the Open Loot.
“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 Ari Meilich, the visionary founder behind Big Time Studios
$OL is intended to enhance the Open Loot platform by increasing user acquisition and engagement across all Open Loot games and products.
This will be achieved by providing substantial utility to Open Loot users, including guardianship, exclusive benefits such as early access to games and events, better deals, and the ability to collect in-game rewards.
$OL Token
The $OL token is not a fundraising mechanism. This launch is equitable: there are no token sales, team-allocated tokens, or tokens sold to early investors. Users of the Open Loot platform have the ability to accumulate $OL=through a variety of activities.
Players actively participate in distinctive game opportunities with their partners, accomplishing challenges and attending distinctive events.
The $OL tokens will offer early access to games, the opportunity to purchase distinctive NFTs, and discounts on special premium currency packs and NFT primary sales to loyal players.
$OL is an effective user acquisition instrument for game developers. Developers can utilize the token to incentivize players to engage in in-game activities, such as dropping tokens in-game or attaining milestones.
Limited-time events have the potential to attract users to Open Loot partner games and generate awareness for the game and the ecosystem.
$OL cultivates more profound connections between developers and their audiences, enabling developers to provide players with substantial value through competitive, social, and metagame features, as well as targeted promotional offers that increase player engagement.
The platform’s engagement and innovation will be defined by the vast potential applications of $OL. By extending its reach beyond conventional off-chain models, $OL will foster trust in the Open Loot platform and marketplace, and set a precedent for the Web3 gaming industry, thereby creating a plethora of opportunities for both users and studios.
Open Loot Platform
Since the beginning of 2024, the Open Loot gaming platform and marketplace, developed by Big Time Studios, has facilitated transactions totaling nearly half a billion dollars.
Open Loot’s capacity to simplify intricate cryptocurrency functions, scalability, distribution, payments, and regulatory conformance for developers is the source of this accomplishment.
While offering a variety of payment options, the marketplace enhances the discoverability and sales of NFTs.
Players are able to experience high-quality games without encountering the typical Web3 issues, such as waiting for transactions, paying gas fees, or connecting a crypto wallet.
The patented Vault technology enables the effortless purchase and sale of NFTs without the need for high gas fees, with the option to mint them onto the blockchain.
The platform provides a variety of features, such as detailed NFT pricing histories, a marketplace for non-crypto game currencies, and NFT rentals, which facilitate the accessibility of Web3 gaming. Ready-to-use technological solutions, such as premium currencies and game launchers, are advantageous to game studios.
Open Loot also offers professional assistance in the areas of marketing, game economy design, and production, thereby guaranteeing that developers can meet player expectations and achieve success.
The Open Loot platform is responsible for the management of all foundational elements, including the sales and leasing of digital and traditional items for Big Time, the extremely successful free-to-play multiplayer action RPG, and five pioneering launch partners.
Each of these partners curates unique Web3 gaming experiences. The Desolation, an immersive cross-platform treasure shooter; ShatterPoint, an adrenaline-fueled F2P action mobile RPG; One Tap, a strategic first-person shooter; World Shards, an expansive sandbox MMORPG; Boss Fighters, an engaging multiplayer action title; and World Shards.
Open Loot is poised to revolutionize the gaming industry by emphasizing high-quality mid-core to extreme games.
Success in the First Half of 2024
The Open Loot platform has experienced growth since the beginning of 2024, which has been fueled by its exceptional partners and vibrant community.
The exchange of more than 1,067,103 NFTs and 1,551,969 NFT rentals has been the most significant aspect of Open Loot’s successful quarter thus far.
This year, the platform’s dynamic and engaging ecosystem has been demonstrated by over 226,588 participants who have created over 3,625,725 NTFs.
Open Loot has generated a total transaction volume of over $445,167,044 since its inception, with millions of transactions indicating the platform’s growing popularity and success.
