Big Time Studios Announces New Marketplace Utility Token $OL

The token won't be sold or distributed to investors or even the Big Time Studios team. Instead the fair launch will be distributed via a points system that users of Big Time's Open Loot marketplace will earn as they complete various activities on the platform.

Big Time Studios has announced a new marketplace utility token, $OL. The token will not be sold or distributed to investors or the Big Time Studios team. Instead, it will be fairly launched and distributed via a points system. Users of Big Time's Open Loot marketplace will earn points as they complete various activities on the platform. The points will be used to determine the amount of $OL tokens each user will receive during the launch.

The $OL token will go live on exchanges such as OKX on November 19th.

In addition to being the platform for the RPG Big Time, Open Loot is also the platform for third-party games. This includes MMORPGs World Shards and Boss Fighters, loot shooter The Desolation, and FPS ShatterPoint and One Tap.

As such, there will be an airdrop for players and purchasers of assets in World Shards, Boss Fighters, The Desolation, and One Tap.

Coming to its utility, $OL tokens will provide early access to games and waitlists of NFT launches. They will also offer discounts on premium currency packs and NFT sales. On the other side of the trade, game developers will be able to use $OL as a marketing reward for in-game activities.

The token will also be used to power the Open Loot Chain.

“We’re flipping the script on token launches. Instead of the usual fundraising frenzy, the launch of $OL is about giving back to our incredible community of players and game developers – from lower transaction fees and exclusive premium currency bundles to invite-only early access to Open Loot games, special NFT sales, tokens in-game drops during exclusive gameplay, and in-game perks,” said Big Time Studios' founder Ari Meilich.

In the first half of 2024, Big Time says that Open Loot has been used by over 226,000 users who have crafted over 3.6 million NFTs.

Find out more at the OpenLoot website.