Web3 Gaming Pioneer Big Time Studios Launches Game-Changing OL Token to Empower the Open Loot Gaming Platform

Source: Open Loot

As a leader in the Web3 gaming space, Big Time Studios has not only created the popular game "Big Time," but has also developed the Open Loot platform, which has now traded over $500 million. Today, active users of the Open Loot platform can earn the OL token, the platform's first utility token, which will be a core driver of the Open Loot ecosystem in the future.

Notably, Big Time's market trading volume has significantly surpassed its competitors, establishing a leading position in the Web3 gaming space. Another well-known Web3 game, Axie Infinity, had a market trading volume of approximately $2.4 million during the same period, only 20% of Big Time's impressive $12 million. This significant lead not only highlights Big Time's growing influence in the Web3 gaming ecosystem but also demonstrates the high level of engagement of its player community.

Big Time Studios founder Ari Meilich stated: "We have disrupted the traditional token issuance model. Unlike common fundraising methods, the release of the OL token is aimed at rewarding our outstanding player and developer community. OL will bring lower transaction fees, exclusive premium currency packages, limited NFT sales, exclusive in-game drops, and privileges, while also providing opportunities for community participation in platform features and game voting. Our players are no longer bystanders but true decision-makers, collectively shaping the development of the Open Loot platform."

Furthermore, with the upcoming launch of the OL token and the Open Loot gaming platform, we look forward to putting all market data on-chain to enhance transparency, further solidifying our commitment to an open and player-driven economy.

The Advantages and Use Cases of the OL Token

The OL token is not a fundraising tool. This issuance adopts a fair model: no token sales, team quotas, or token sales to early investors. Open Loot users can earn reward points through platform activities, win OL tokens by completing challenges and participating in special events. Loyal players will have community voting rights, early access to games, exclusive NFT purchase opportunities, as well as benefits such as special currency and NFT purchase discounts.

For game developers, the OL token is an effective user growth tool. Developers can use OL to reward active players, such as achieving specific in-game goals or receiving token drops in the game. This method not only increases player engagement but also attracts users to participate in partner games through limited-time events, increasing exposure. OL will further strengthen the connection between developers and players, helping developers create valuable interactive experiences for players through mechanisms such as competitions, social interaction, and metagames, while also increasing the activity of players within the platform.

The application of the OL token will drive innovation and interaction within the platform, helping Open Loot break free from the limitations of the traditional off-chain model, become a leader in the Web3 gaming industry, and create more opportunities for players and developers.

Advantages of the Open Loot Platform

Since its launch in early 2024, Big Time Studios' Open Loot platform has achieved a transaction volume of nearly $5 billion, thanks to the platform simplifying cryptocurrency functionality, scalability, payments, and compliance management, helping game developers get started quickly. The Open Loot platform has increased the exposure and sale of NFTs, while providing multiple payment methods, allowing players to experience high-quality games without having to connect a crypto wallet or pay gas fees.

The Open Loot platform's patented Vault technology allows users to easily buy and sell NFTs, with the option for on-chain minting. The platform also includes NFT leasing, a non-cryptocurrency marketplace, and detailed NFT price history records, opening up more convenient use cases for Web3 games. Game studios can focus on providing players with outstanding gaming experiences and achieving commercial success through plug-and-play technical solutions and marketing support.

Open Loot currently supports multiple games, including "Big Time," and has partnered with four innovative partners: the large-scale sandbox MMORPG "World Shards," the multiplayer action game "Boss Fighters," the cross-platform shooter "The Desolation," and the high-energy action RPG mobile game "ShatterPoint." These games cover player groups from casual to hardcore, and Open Loot is committed to redefining the gaming industry through quality game content.

Highlights of the First Half of 2024

Since early 2024, the Open Loot platform has shown rapid growth due to its active community and partner support. In just a few months, the platform has achieved 1,067,103 NFT transactions and 1,551,969 NFT leases. So far, 226,588 players have created over 3,625,725 NFTs on the platform, demonstrating the platform's rich interactivity and vitality.

Since the platform's launch, Open Loot has reached a total trading volume of over 4.45 billion US dollars, and the platform's ever-increasing popularity and market influence are evidenced by millions of transactions.

For more details and the OL token distribution schedule, please visit the official website.

This article is contributed content and does not represent the views of BlockBeats