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14th September 2021 > > Loot.

tl;dr

Loot is a remarkable example of how NFTs can rapidly generate a new eco-sphere.


Market Snap







Market Wrap

A number of alts have funding rates suggesting that shorts are building. I will keep an eye on this for all of you.


Stocks look a solid buy for now (NOT investment advice, merely commentary).


Occasional Series – The vaccine debate

Not of all of you will like this, but I feel compelled to speak my mind.


It is a completely personal decision whether to have a jab or not, and no-one else can make that decision for you.


This isn’t about a moral choice. For obvious reasons I was double jabbed early on, and I expect to be top of the queue for the booster, which I will gratefully accept.


However, I will never criticise anyone for being unvacced (if there is such a word).


Vocalising judgements – strongly held or not - about individuals who have their own personal vaccination preferences should only ever be a private discussion.


Medically vulnerable as I am, if we share mutual respect and love, we are friends, and I do not care about your jab status, I just want to spend time with you.


Just my opinion is all.


Curious Cryptos’ Commentary – LOOT non-fungible token project (NFT)

I have had a few questions regarding this particular project, which was launched on August 27th 2021. It has been insanely popular and is frankly insane. But here goes.



8,000 Loot bags were available for minting for free except for gas costs;

- Each bag contains 8 items (see example below);

- And, er, that is it.


Example of a Loot bag:


















The website does say:


“Loot is randomized adventurer gear generated and stored on chain. Stats, images, and other functionality are intentionally omitted for others to interpret. Feel free to use Loot in any way you want.”


Why do we care?


Regardless of your personal views about the value or otherwise of this project, trading on OpenSea has been fast and furious.


On September 1st, Bag #119 sold for 29 ETH, about $102,000.



Loot has spawned a large number of spin-offs, as it was intended to do. These include character generators, Loot Land, rarity evaluation tools, and the inevitable pornographically inspired version, amongst others.


There is also synthetic Loot (as if the original was anything other than synthetic) which gives all ETH wallet holders a bag derived from your public address. One of my ETH wallets


(0x4d35ED44d47E2Eb646C6585Ec16Ab4BE3f8a9Fa8) has this synthetic bag of Loot:


Demon Husk

Linen Shoes

“Vengeance Roar” Heavy Gloves of Anger

“Gloom” Peak Devine Hood of Titans +1

Amulet of Anger

Bronze Ring

Heavy Belt

“Pain Roar” Club of Power


You can check your own public key here:



Wallets that generate rare bags present the potential opportunity for a windfall.

….


There is a whole load of stuff written about Loot, and my very short summary today does not do it nearly enough justice. But perhaps I have whetted your appetite to know more.


In just a very short space of time, a simple idea has created a whole new ecosystem of creative activity around itself.


This is the power and the beauty of cryptos.

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