What is Loot NFT?
They’re a gamified, patent pending, auction platform where members use BUNs, tokens of limited supply, to bid for NFTs.
Membership is by invitation only.
Anyone signing up to Loot NFT must first have their email address whitelisted before 30 June, 2021. Thereafter, a member must whitelist their invitee’s email addresses for them to sign up.
To whitelist now go to lootnft.io.
First whitelisting page as of 23 April 2021.
Get BUNs. Bid. Re-list. Climb status levels.
You’ll need to buy BUNs (with USDC) when you sign up. BUNs are used to bid for NFTs at Battle-Bidding auctions, or to redeem for services.
All BUNs are purchased with USD Coin (USDC).
BUNs you’ve purchased show up in your account.
You can now join a time-limited auction by paying 5 BUNs as a joining fee (this fee increases over time making it more expensive for late comers to join that auction). Thereafter, use 1 BUN at a time to Battle Bid. You can’t outbid yourself and the last member to bid when the timer expires, receives the NFT. BUNs used to bid are spent (and debited from your account, i.e., the auction is a pay-to-bid style auction).
Each NFT is curated, unique, and part of a themed set of 5 NFTs. Collect the full set to unlock an amazing mystery gift (only offered when a set is first put together). Collect a simple majority of a set and unlock a degree (a status level granting more BUN rewards for participating).
You can also unlock some other badges depending on when you sign up.
You can sell NFTs you’ve won for auction and get paid for the sale in USDC (less their commissions). Conditions apply.
Sneak peak of current platform (in testing mode).
A member’s goal should be to achieve the 5th degree (collecting a simple majority of 5 different sets).
The result of member’s bidding on Loot NFT is for creators anywhere (whose work was NFT’d and listed for auction), known and unknown, to get recognized and paid for their creativity and talent.
Here’s a one-page overview of the whole Loot NFT ecosystem below (to download the pdf, click here):
Leave your questions below for us to answer.
❤️ Loot NFT.