🪙$OL Token
Last updated
Last updated
We are excited to introduce our new platform token, $OL, designed to fuel Open Loot's next growth stage. This token will offer new benefits to our loyal users and create opportunities for further expansion. By enhancing marketplace activity, increasing user acquisition, and boosting engagement across all Open Loot games and products, we aim to elevate the overall Open Loot experience.
The $OL token is designed to capture value from the platform by offering exclusive benefits to Open Loot users. Whether you're seeking better deals on the Open Loot marketplace or aiming to collect additional rewards while playing your favorite games, $OL delivers substantial utility.
There are numerous avenues to spend and sink the $OL token within the Open Loot ecosystem.
Paying in $OL: Players can use the token as a payment option when purchasing from the Marketplace, purchasing Premium Currency such as Time Crystals, or buying NFTs from Primary sales. Users will also receive a discount when paying with $OL corresponding to their VIP tier.
Special Premium Currency Packs: Open Loot games occasionally offer special premium currency packs, which can be purchased exclusively with $OL. These packs are provided at a special discount relative to regular premium packs.
NFT Primary Sales: When purchasing NFTs during primary sales, using $OL may qualify you for special discounts or grant exclusive access to certain sales only available to VIP users. This provides a unique advantage in acquiring new and desirable NFTs.
Spending In-Game: Partner games may enable the ability to spend tokens to access content or acquire items.
Open Loot Reward Points can be converted directly into $OL tokens. Players will be able to collect Open Loot Reward Points in several ways, including:
In-Game Drops: Participating in Open Loot games will have special events that reward in-game activity with Open Loot Reward Points drops.
$OL TGE Airdrop: This unique initiative rewards Open Loot users with Open Loot Reward Points based on their activity in Big Time and on the Open Loot Marketplace.
Big Time Leaderboard #5: The fifth Big Time leaderboard will feature Open Loot Reward Points as part of the reward, in addition to the regular $BIGTIME rewards.
Open Loot Social Media Points: Participate in our Open Loot Social Media Points feature, where you can collect Open Loot Reward Points for engaging on X.
Clockie Chaos Telegram App: Clockie Chaos is an engaging, mobile-only game available through Telegram. It invites players to dive into a time-bending adventure, where you blast away rogue Clockies to restore the balance of time, all while collecting valuable Time Shards.
Marketplace Sales: When selling on the marketplace, sellers can receive $OL or USD payments.
We plan to continue adding new ways to collect Open Loot Reward Points. Please check back for updates.
Open Loot VIP tiers grant users special account privileges and provide access to various benefits, including reduced transaction costs, special airdrops, exclusive access to features, and more. A user's Open Loot VIP tier will be based on their Open Loot Marketplace activity and $OL holdings.
While the primary benefit of the Open Loot VIP tiers is to unlock more significant discounts on transactions, other benefits may also include:
Access to limited-time premium currency packs.
Amount of votes allocated for feature voting and community participation.
Access to exclusive NFT primary sales, including higher limits on the number of NFTs users can purchase. These exclusive sales provide a unique advantage in acquiring new and desirable NFTs.
Other in-game benefits include access to areas that can only be accessed with a high enough VIP Tier and unlocking special Hourglass Slots in Big Time, a highly sought-after feature.
For more information, read here.
The Open Loot ecosystem stands to gain significantly from the $OL token in terms of how the token can be used to drive engagement. Below are examples of how it can be utilized to propel the platform to new heights:
Besides the inherent boost in marketplace activity driven by the newly introduced Open Loot VIP tiers—which use marketplace transaction values to determine tier status—$OL is an incentive to be paid out to engaged users. One example of a program we plan to roll out:
$OL TGE Airdrop: This unique initiative rewards Open Loot users with Open LooT Reward Points based on their activity in Big Time and on the Open Loot Marketplace. Read more here.
$OL can also help game developers with user acquisition, which is paramount for newly launched games. The token will reward players for their in-game activity via Open Loot Reward Points airdrops upon reaching certain milestones or dropping tokens in-game.
We plan to utilize this feature through limited-time events that attract users to Open Loot partner games and create exposure for the game and the ecosystem.
While boosting marketplace activity and user acquisition are currently the primary sources of value that Open Loot gains from its native token, the possibilities for leveraging this token in other areas are endless. The $OL token holds vast potential to redefine engagement and innovation across our platform.
The $OPL token features described in this wiki are in active development and are targeted for release in 2024 and beyond. Details are subject to change.
