Open Loot: A Web3 Gaming Ecosystem That's Shaking Things Up

Open Loot is a web3 gaming ecosystem that includes a distribution platform and marketplace designed to enhance user experience, scalability, and payments for players and developers.

Open Loot's native cryptocurrency, OL, was finally launched on Monday, Nov 19, 2024, allowing those who had been accumulating Open Loot Reward Points (OLRP) to convert them into OL tokens and unlock exclusive benefits.

The OL token is designed to enhance user acquisition and boost engagement across Open Loot's games and products. It can be used for various purposes, including making payments on Open Loot's marketplace, accessing special in-game perks, obtaining exclusive deals for NFT primary sales and using it for in-game spending across partner games.

Here's a quick overview of how you can convert Open Loot Reward Points (OLRP) into OL tokens.

How to Convert OLRP to OL Tokens

You can only convert OLRP points into OL tokens after holding them for ten (10) days, at a ratio of 100:1 and a maximum of 30,000,000 OLRP per day (300,000 OL).

To convert your OLRP into OL tokens, follow these steps:

Visit the Open Loot marketplace and connect your Web3 wallet.

In the top-right corner of the screen, click on your Web3 wallet address.

Select “Convert OLRP” from the drop-down menu.

Enter the amount of OLRP you wish to convert (minimum 100 OLRP, maximum 30,000,000 OLRP per day).

Click on the “Convert OLRP” button.

Confirm the transaction in your Web3 wallet.

Once the transaction is complete, your OLRP will be converted into OL tokens at a rate of 100:1.

It's important to note that OLRP will expire in two (2) years. Therefore, if you have any OLRP, be sure to convert them before the expiration date.

How to Earn Open Loot Reward Points (OLRP)

There are several ways to earn Open Loot Reward Points (OLRP). Some of the most common methods include:

Opening Epoch Chests in the Big Time game.

Participating in the Showdown Tournament in the Big Time game.

Earning OLRP from social media activities.

Playing the Clockie Chaos Telegram game.

Being in the top 5 on the Big Time leaderboard.

Once you have earned OLRP, you can use them to convert into OL tokens following the steps outlined above.