Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Hello Satoshi Club!\nWe are happy to announce our AMA session with Lootex! Welcome to Satoshi Club<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n our guests today – @chiawei579 @justinelu @TYY_TYY @dtseng !<\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n Hi guys!<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n hello! welcome to Satoshi club!<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Hello and welcome here <\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n How’s going?<\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n Great!<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n Ready to start the AMA ? <\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n Yup, LFG!!!<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n So could you please introduce yourself and tell us more\nabout Lootex?<\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n Sure!<\/p>\n\n\n\n I’m Community Manager of Lootex, and about the origin of the\ncompany\u2019s name, Lootex, was Loot Exchange \u2014 a cross-chain game item shop for\nthe Metaverse.<\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n We are devoted to building a gamer-centric, in-game asset\nmarketplace where players can easily browse and trade the most popular game\nassets.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Is your project young?<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n How long did it take you to grow from idea to Lootex?<\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n Lootex company was established on 2018. but as we all know,\nNFTs weren’t as popular back then as they are right now. The crypto world moves\nvery fast and the idea of building a player-centric marketplace took 3 years to\nfinally develop into what it is right now<\/p>\n\n\n\n Mary | Satoshi Clu<\/strong>b<\/p>\n\n\n\n Who are in your team? Is it big?<\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n Some of them will be on AMA today, or you will be alone?<\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n Here is our core team members. Last year we are only 14\nmembers and maybe in 2022 we are going to hit around 40<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n What are Lootex main goals? <\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Cool! <\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n Lootex has always believed in putting gamers first, which\nhas been achieved by providing gamers with the best trading tools for in-game\nassets. Lootex\u2019s marketplace features over 12,720 NFT assets and over 140\ncollections available on multiple blockchains with an easy-to-use interface\ndesigned specifically so gamers can buy what they need when they need it.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n I like this<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for your intro! Ready to start with the questions\nfrom our community?<\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n Yes!! <\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Let’s go <\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n Q1 from Telegram @Rotoxy<\/em>\u00a0 <\/p>\n\n\n\n Last year December, you introduce Lootex Badge 2021. Users were expected to perform three mission in order to obtain these badges, which you said will grant special perks and access to the owners. Can you please tell us more on the requirements to be a badge holder and the privileges that await badge holders? Also, you have 3 missions activities for interested badge seekers which divided as mission 1, Mission 2 and mission 3. You have already unveil the events of mission 1 and mission 2 but yet to disclosed mission 3 events. Can you tell us more about the badge mission event and how many badges have been won so far? What will be the content of mission 3 and when will it be unveiled?<\/em><\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n Sure, the Lootex Badge Series will have more utility in the\nLootex Ecosystem. For those that already hold Lootex Badge 2021 – these can\nonly be obtained by participating in Lootex community events (ie via\ndiscord\/twitter\/TG) or directly buying it on the market!<\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n The badge holders will be able to access our private channel\nin our Discord and also have first-hand information directly from the Lootex\nTeam.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Will you have Badge 2022?<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n there is a limited supply of those badges?<\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n Yes, Only 2021 was\nminted for this specific badge.<\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n We are planning to, but it will be something to look forward\nto as of the moment <\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Gotcha! We will follow your updates <\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n And back to the community answer<\/p>\n\n\n\n So far we have completed the first waves of badge drop for\nthose who completed Mission 1 ( total amount: 529 badges, including the KOL\ncollaboration drops), and Mission 2 is currently ongoing: The first 300 users\nwho can invite 20 new users into our Lootex discord Group- with the invite\ncode, will earn a free badge without a raffle. Mission 2 will end at 2022\/01\/15\n23:59 (UTC).<\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n To learn more about the Badge Mission here: https:\/\/medium.com\/lootex\/lootex-badge-2021-97394f6aa041<\/a><\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n And as for Mission 3\n\u2026Lootex will soon have a Game\u2019s Ranking feature related to $GP token and Lootex\nBadge holders. Being a Lootex early supporter..with the Lootex Badge will give\nyou special privileges and incentives such as getting the latest news before\npublications\u2026we will share more details soon..(hint* airdrop opportunities). We\nwill also be gathering more KOLs to join our Lootex Badge Event\u2026so stay tuned!!<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n That’s awesome! Badges are really important for your\nmembers!<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for your answers! Ready to proceed? <\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n Yes! Let’s go!<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n Q2 from Telegram user @h1drX<\/em><\/p>\n\n\n\n Could you give us a refresher on the economics of Lootex? What are the fundamental pillars that sustain the project\u2019s economy? What are Lootex\u2019s sources of income and how is wealth shared between owners and partners? And what is your approach to the future of Lootex? I mean, do you focus on long-term sustainability?<\/em><\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n Lootex has geared a great amount of success in Q4 onboarding\nwith a couple top-selling gamefi projects onboard. With that amount of transaction, the 2.5%\nplatform fee is close to covering our cost (we had a small team at that\npoint). We saw the rise of gamefi and\nmetaverse and had a bigger ambition to step into the gamefi ecosystem. We realize our product has a lot of\nimprovement to make to meet our vision. \nLuckily, our vision aligned with well-known investors, and we are\nsecuring good comfortable fundings. For the short term, Lootex is going to hire\nmore talents to refine our product and services. In the longer term, Lootex wants to bridge\ntraditional game studio to blockchain space, and hopefully be a partner with an\neven stronger performing IPs.<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n Do you have your own token? or any plans to release it?<\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n Yes, we will have $LOOT token launched soon!<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n How it will be launched? Do you plan any IDO?<\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n We are confirming details on a major platform… will be\nsharing the big news on our social platform soon…stay tuned!<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n We will for sure <\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for your answers! Ready to go to the next\nquestion?<\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n Sure!<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n Q3 from Telegram user\u00a0\u00a0 @Meta_MateXPro<\/em><\/p>\n\n\n\n Sports is one of the most popular in revenue bringing sphere of our life. I was impressed by the quantity of sports presented on your Marketplace as long as the quality and variety of NFTs presented. Please talk more about that side of your business. Are you planning to introduce betting, controlled by smart contracts system? What are the other usercases of sport NFTs besides of simple holding? Can they be staked on Lootex? Thanks in advance!<\/em><\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n More gamification and use of NFT on our platform is\ndefinitely interesting ideas. We want to\nexplore and promote healthy community interaction. Currently we are open to different ideas,\nanything that can be transparent, fair, and fun would be something we look\nforward to implement.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n What blockchain are you build on, btw?<\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n Our platform supports ETH \/ BSC \/ Polygon<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Wow, that’s nice! Do you have plans to add more?<\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n Arbitrum, and AVAX will be supported in the near future<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n Great choice <\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n thank you for answer! i think everything is ready for the\nnext question <\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n Yes<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n let’s proceed <\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n Q4 from Telegram User\u00a0\u00a0 @thisistoyin<\/em><\/p>\n\n\n\n I noticed that, In the Lootex metaverse, lootex intends to function as an item shop where players can freely purchase and sell equipment and other in-game assets, i also saw on your website that you offer Services such as NFT Forge, & NFT Minting Services, please i would really like to know how this processes works, and i also noticed that you Have two options of Carrying out this Forging and Minting process, which are:<\/em><\/p>\n\n\n\n 1) THE GO SIMPLE<\/em><\/p>\n\n\n\n 2) GO PRO, but, information about this processes Was not stated on your site, could you please Distinguish between the functionalities of this Two features? What are thier functionalities & in what ways would they help users on your platform?<\/em><\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n Lootex started out 4 years ago serving mostly corporate\nclients. At that time, the general\npublic didn’t really know about NFTs and applications of them were few. So we had an NFT minting service that\nservices companies that might be interested in issuing membership NFTs, wine\ncertification, to name a few. NFT Forge\nwas also something Lootex thought would make things simple for them if the\ncorporation wants to use our APIs to mint. <\/p>\n\n\n\n As you know the crypto world moves very fast. End of 2020 there was NBA Topshot, and in\nearly 2021 The Hashmask and Beeple started to grab people\u2019s attention. Lootex also moved from servicing corporate\nclients to providing a secondary trading platform. So, the NFT Forge services are now closer to\nbeing deprecated. We are moving toward\nproviding a game asset launchpad to let our royal friends get a shot at limited\nquantity NFTs. We are also thinking of\nproviding APIs or SDKs to let traditional game studios turn their game items\ninto NFTs easily, but that\u2019s on the planning stage.<\/p>\n\n\n\n So long story short, Forge will not be our main focus moving\nforward.<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n how are you solving a copyright issues on your marketplace?\ndo you have any mechanism which can detect if particular image was just copied\nfrom other source?<\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n Actually we have a form for the project owners to fill out,\nand it will go through our evalutation process. \nBut it\u2019s hard to detect if any particular image is copied from other\nsource. <\/p>\n\n\n\n What we have done in the past is, when there\u2019s a report of\nIP infringement , we act on it immediately.<\/p>\n\n\n\n In the future, we\u2019d like to involve our community in our\nproject listing process, and so there will be more eyes on the project before\nwe mark them as verified<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for your answers! Ready to jump to the next\nquestion?<\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n Sure<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n Nice<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n Q5 from Telegram user @Highpee<\/em><\/p>\n\n\n\n Lootex intends to create LootSwap which users will be used for asset swap and cross-chain payment. I will like to know how LootSwap will be used for asset exchange. What market marker system will LootSwap exchange adopt or will trading and exchange be based on a peer-to-peer exchange system? In addition, will users be able to exchange both Fungible and Non-Fungible asset on LootSwap?<\/em><\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n The LootSwap feature is based on a peer-to-peer exchange. It\nwill help users by minimizing gas fees when they swap in-game items. <\/p>\n\n\n\n For instance, the current system requires 2 transactions for\na swap to be completed. And per transaction made, the user gets charged with a\ngas fee (transaction fee for using a blockchain). <\/p>\n\n\n\n With Lootswap we can complete the transfer with 1\ntransaction which gives users a swift, cheaper transaction.<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n What role will you future token be play on LootSwap? can you\nshare that info now?<\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n We have a lot utilities planned out for our token.<\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n we\u2019ll hear feedback from our community and finalize them.<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n Okay! we will wait and see then <\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n Appreciate for answers! ready for the next question?<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n last question from part 1<\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n Yes!!<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n Q6 from Telegram User\u00a0\u00a0 @JesusFre1tes<\/em><\/p>\n\n\n\n For project owners who want to have a showcase for their projects and contracts verified on the Lootex C2C marketplace, what are the steps to follow to get this verification? Lootex serves as an audit platform and smart contract developer for new projects? If so, how do they differ from your competition? Thank you!<\/em><\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n We have a form for the project owners to fill out, and it\nwill go through our evaluation process. \nBesides focusing on gamefi projects, we also want the project we verify\nto be of good quality. We know all\nproject owners work really hard on making their game awesome, so we don\u2019t set\nthe evaluation bar super high. However we do prefer a doxxed team, a solid\nsocial following, and making good efforts to market themselves. Because at the same time, it\u2019s hard to\npredict which project will rug too =)<\/p>\n\n\n\n We can do some smart contract development for new projects\nif we buy-in their ideas and want to have deeper collaboration. It will be case-by-case.<\/p>\n\n\n\n As for where Lootex will be different from competitions, we\nthink it will be our communities. All\nproducts and services will have similarities and have some unique value\nproposition. What Lootex believes is\nthat our platform is more than just rarity points, APYs, and whitelists. We feel Lootex is a place where after a long\nday hunting\/crafting\/hustling in the games or metaverse, you\u2019d come to Lootex\nto have a drink and chat with one another, show off the loot you got and\nsharpen your sword for another day. <\/p>\n\n\n\n Our core team members are all die-hard gamers since our\nteenage years, we felt the pain of losing your value items and accomplishment\nwhen game publisher no longer supports the games, and our mission is to deliver\nthe message of owning your own game asset in blockchain games, and Lootex will\nbe with you all the way.<\/p>\n\n\n\n D. | Satoshi Club<\/strong><\/p>\n\n\n\n Awesome answer ! <\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Can you share your social media links with our community\nagain, so we won’t miss any updates from you <\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n Lootex Website: https:\/\/lootex.io\/<\/a><\/p>\n\n\n\n Lootex Twitter: https:\/\/twitter.com\/LootexIO<\/a><\/p>\n\n\n\n Lootex Facebook: https:\/\/www.facebook.com\/lootex.io\/<\/a><\/p>\n\n\n\n Lootex Medium: https:\/\/medium.com\/lootex<\/a><\/p>\n\n\n\n Lootex Discord: https:\/\/lihi1.cc\/meYVl<\/a><\/p>\n\n\n\n Lootex Telegram: https:\/\/t.me\/lootexIO<\/a><\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n And now we came close to the live part of AMA – live part <\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Are you ready?<\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n Ok, I’m ready!<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Let’s go <\/p>\n\n\n\n Q1 from Telegram user <\/em> @Rinkus987<\/strong><\/em><\/p>\n\n\n\n Do You Support Multiple languges So that Even the Non English Speaking Users Can Also Explore the LOOTEX PLATFORM Or you target is Only English Speaking Users ?<\/em><\/p>\n\n\n\n Gary | Lootex (will never dm you)<\/strong><\/p>\n\n\n\n We support Chinese, Japanese and English for now. But we\u2019ll definitely add more in the future for our users.<\/p>\n\n\n\n Q2 from Telegram user @Thisistoyin<\/strong><\/em><\/p>\n\n\n\n I was amazed when i saw that lootex was Co founded by A Woman, for me that’s a really Big deal cuz its not everyday that you get to see women making impact in the Blockchain industry.. I would really love to know more about her Justine Lu<\/strong><\/p>\n\n\n\n Hi, thanks for asking. I\u2019m (Justine) actually in this AMA . I have 10 years of game industry background both in game development companies and publishers in PC game, MMORPG, mobile game, VR games. <\/p>\n\n\n\n Due to previous experience, I always know there\u2019s strong demand for in-game item trade among gamers. I felt excited when I first discovered CryptoKitties back in 2017. I know blockchain can be a tool to free the ownership of in-game items from game companies. So I co-founded Lootex in 2018 to provide a game-oriented NFT marketplace, players are able to trade and discover the value of their hard work and accomplishments. For more information about my personal interview especially for female readers, maybe you can read this article: <\/p>\n\n\n\n![\"\"](\"https:\/\/esatoshi.club\/wp-content\/uploads\/photo_2022-01-06_18-50-34-1024x314.jpg\")
<\/figure>\n\n\n\nPart 2 \u2014 live questions from the Telegram community<\/strong><\/h2>\n\n\n\n
could you please State some security measures taken by Lootex to futher ensure the safety of its users and ecosystem? What Critical Advantages does Lootex Has that existing Platforms out there are not solving????<\/p>\n\n\n\n