Jan 16, 2022

9 min read

LOOTEX #AMA With #MCG

💎AMA RECAP WITH #LOOTEX

Hosted by :Vishveshwara

Dated : 14th Jan 2022

Guest: Gary Wu (Lootex Wizard)

💥INTRO SEGMENT💥

Vishveshwara :Hello MCG, Welcome to Our Live #AMA session with LOOTEX. Let’s Welcome @chiawei579 from the team.

Gary Wu: Hi guys! I’m the Community Manager of Lootex!

Vishveshwara: Welcome to MCG. So let’s get started. Are you ready?

Gary Wu: Yes, LFG

Vishveshwara: #1:Please give us an introduction about Lootex.

Gary Wu :Lootex is a cross-chain game item shop for the Metaverse that aims to provide both efficiency and convenience for its users.

The Lootex team is devoted to building a #GamerCentric, in-game asset marketplace where players can easily browse and trade the most popular game assets.

Gary Wu: DONE

Vishveshwara: Awesome👌.Let’s go to our next Question.

#2:What is Lootex trying to accomplish in the NFT Ecosystem?

Gary Wu: Many play-to-earn and blockchain-based games are giving back control of the gaming experience and gaming benefits into the hands of the gamer community.

This is where our marketplace comes into play.

As gamers around the world look for ways to cash in on play-to-earn games, Lootex has designed a platform that suits their needs.

Both for gamers focused on entertainment, and gamers focused on the earning aspect, play-to-earn games are designed such that every time a player buys an asset, they indirectly increase the value of the game economy.

We want to revolutionize the gaming industry by providing different trading tools to ensure users will have a #smooth, #efficient, #CostFriendly trading experience.

Gary Wu: DONE

Vishveshwara: That was very informative👍✌️, i advise community to take time to read everything.

Vishveshwara: Let’s move on to our 3rd question

#3: Do you have any running events where our users can participate and win something? Like an NFT giveaway or something similar to that?

Gary Wu: In December 2021, we introduced #LootexBadge2021 for our Discord members. We have a total supply of 2021 for it given that it is a badge series specifically for the year 2021.

Badge holders will have the opportunity to participate in different events such as #NFTgiveaway, #whitelists on our platform, and many more!

So far we have completed the first waves of badge drop for those who completed Mission 1 ( total amount: 529 badges, including the KOL collaboration drops), and

Mission 2 is currently ongoing: The first 300 users who can invite 25 new users into our Lootex Discord Group, will earn a free badge without a raffle. Mission 2 will end at 2022/01/15 23:59 (UTC).

We only have a limited amount of badge to give to users and you can still earn one through participating on our upcoming #Mission3. This will ONLY be held on our Discord channel so we highly encourage users to join our Discord!

Vishveshwara: That’s Wonderful program for our community 👏👌

Vishveshwara: Excellent 👌,very neatly explained in very simple words. Now let’s move on to last Question from our first segment.

Gary Wu: Sure!

#4:What are the upcoming plans of Lootex for the next coming months/years?

Gary Wu: Lootex has always believed in putting gamers first, which is why we are aiming for a Decentralized Autonomous Organization (#DAO).

We want to provide the gamers with the best trading tools for in-game assets; Everything that we are building now is for the foundation of our community. We believe that having this strong community backing us will help us pave the way to the top of the blockchain gaming ecosystem.

Before we jump into next segment, let me share our roadmap in 2022 with you guys!

2022 Q1 — Build a better trading platform / Launchpad

Game Asset #Launchpad release
Support more chains (eg. #AVAX / #Arbitrum…etc.)
In-depth customized chain game mall — better trading experience: parameter query, rarity query… etc.)
#Lootpedia — Game guide for in-game items.

2022 Q2 — Creating a better gaming interface / cost-efficient trading experience

#GamerProfilePage (own photo, cover photo, favorite game… etc.)
#Lootswap — “Cross-Chain Game Virtual Treasure Exchange System” — Risk-free exchange of game virtual treasures through smart contracts
Build a virtual store inside #TheSandbox.

2022 Q3 — Cross-chain Gaming Ecosystem

“#Decentralized Game Launchpad” is online
NFT #rental and #borrowing feature go live
“#CrossChain and #CrossCurrency payment” function is online.

2022 Q4 — Enter the world of Metaverse!

Advanced player-to-player trading function
Host more events in The Sandbox Metaverse.

Gary Wu: DONE

Vishveshwara: Roadmap 😍,just makes me go awe. Looks incredible,planning to go all in with #Lootex.

Gary Wu: We really pay a lot of effort on it!

Vishveshwara: Much appreciated 😊 😊.Let’s start our 2nd Segment, where we answer best Questions from Twitter Community.

Q1: Can you explain the application process prior to conducting sales on your launchpads? How will players participate in launchpad presales, and how will you ensure a transparent distribution of presale assets to interested public investors through whitelisting or sales allocation? By @weacceptcrypto

Gary Wu: We have a form for the project owners to fill out, and it will go through our evaluation process. Besides focusing on gamefi projects, we also want the project we verify to be of good quality. We know all project owners work really hard on making their game awesome, so we don’t set the evaluation bar super high. However we do prefer a #DoxxedTeam, a solid social following, and making good efforts to market themselves. Because at the same time, it’s hard to predict which project will rug too.

As for #whitelisting and #SalesAllocation, it will be based on our future updates. Right now we have our #LootexBadge2021, and we are looking to add more collections in the future. We recently partnered with different gaming guilds like #AvocadoDAO and #YGGSEA. Through this partnership, we plan to build something new to offer and add to our user’s collection.

Gary Wu: DONE.

Vishveshwara: We really appreciate 🙏,the steps you are taking to protect the Community. Now let’s move on to our last question from 2nd Segment.

Q2: Every successful enterprise, as we all know, has a few stories behind the scenes; what is the story behind LOOTEX’s success? What was that vision when it was initially conceived? Do you have any special prototypes or impending LOOTEX updates you’d like to show/share with us?

Gary Wu:Good one!! 👍

Our CEO and Co-founder, Justine Lu, and most of our team members were an avid fan of gaming.

If you were to be spending money on a game, you would most likely look cool against other players and basically have the upper hand in terms of combat.

But monetarily speaking, you don’t own any of the things you bought. The gaming company owns it and you can’t prove ownership behind the items you purchased.

So our Co-Founder decided to take a rebellious approach and formed Lootex as a player-centric trading platform wherein you are the #owner of your gaming assets.

We want players to have the sense of security that whatever they earn inside the Metaverse will always be their property.

Regarding our success, It took us 3 years to actually grow into what we are today.

Everything was hard at the beginning, but luckily our vision aligned with well-known investors and partners. We secured good comfortable fundings hence we were able to continue developing our project.

As we all know, the blockchain industry moves very fast and a lot of projects were developed right after CryptoKitties which gave us a wider market to service.

We are moving towards providing a game asset #launchpad to let our users get a shot at limited quantity NFTs.

Community strength is not the only factor to take into consideration to become global. We believe that the Metaverse “needs” to ensure a free movement of goods to succeed.

Gary Wu: The marketplace will be our #sword and the community will be our #shield.

And everything will be updated on our social media regularly and you can follow every inch of success there.

Discord: https://discord.gg/5ajJsnK2

Twitter: https://twitter.com/LootexIO

Telegram: https://t.me/lootexIO

Facebook: https://www.facebook.com/lootex.io/

Medium: https://medium.com/lootex

Gary Wu: DONE ✍️

Vishveshwara: Excellent 👌 ,You have have wonderful team.Now before moving 3rd Segment i request all our Members to join all the Socials of LOOTEX.

Vishveshwara: Now it’s time, we answer questions from our telegram Community. Please No Spamming, tagging or admins or projects founders.Chat will be open for 60s please ask your questions.

Can you tell us about your team members? are they qualified and professional in their fields? what are the recruiting qualifications for team members for your extraordinary project?

Gary Wu: Sure! Here is the core team, and our CEO & Marketing Director were came from the gaming industry, and our COO has more than 3 years of experience in DAPP development, and last year we are only 14 members and I believe in the end of 2022 we are going to hit around 40!

2. Do you have your smart contract audit certificates? Have you done your audit already or do you hav any plans on doing? If you have already done please share more details on that?

Gary Wu: We have partnered with #PALADIN blockchain security to truly focus on our investor and community safety. We aim to cover all potential issues regarding security through this audit. We worked closely together with them and they assisted us through giving their recommendations and advice before a post-deployment round is done to deploy contracts that are verified to match the audited contracts completely.

➣ https://paladinsec.co/projects/lootex/

3. Current NFT is a hot topic, but are NFT not just for art. Does your project think that more real world use cases will emerge for NFTs as time goes on, why should we take NFTs seriously?

Gary Wu: Lootex started out 4 years ago serving mostly corporate clients. At that time, the general public didn’t really know about NFTs and applications of them were few. So we had an NFT minting service that services companies that might be interested in issuing membership NFTs, wine certification, to name a few. NFT Forge was also something Lootex thought would make things simple for them if the corporation wants to use our APIs to mint.

As you know the crypto world moves very fast. End of 2020 there was NBA Topshot, and in early 2021 The Hashmask and Beeple started to grab people’s attention. Lootex also moved from servicing corporate clients to providing a secondary trading platform. So, the NFT Forge services are now closer to being deprecated. We are moving toward providing a game asset launchpad to let our royal friends get a shot at limited quantity NFTs. We are also thinking of providing APIs or SDKs to let traditional game studios turn their game items into NFTs easily, but that’s on the planning stage.

Gary Wu: So long story short, Forge will not be our main focus as we move along with the current trend, and the speed & focus we be our advantage!

Vishveshwara: Awesome 👌.So it brings us to the end our #Ama session. I really appreciate 🙏 all the effort and patience from @chiawei579 to explain us about Lootex . Thank you for giving us an opportunity to host you.

Gary Wu: It’s a pleasure to being here!Thank you guys for you time! WAGMI. Don’t forget to join our

Discord: https://discord.gg/lootexio

And BTW 300 USDT giveaway is still ongoing!!

Vishveshwara: #MCG Community go all In on LOOTEX. Try to Secure your places in Whitelist 💪 💪.The Chat is Open.