Diana Dai

As an Owner of Loot, Where to Map Your Journey?

NFTs have gained notable popularity. Tons of people are pursuing to become an owner of social NFTs and see these limited edition NFTs as gold to preserve or boost the value. While the truth is that having a social NFT in the pocket cannot secure you to share a piece of the pie.

It's just a beginning if you truly expect to see the value of it. Where should you go after this NFT fever?

Owning a Loot bag but ignoring its philosophy is like winning a battle but losing a war. The essence of social NFTs, including Loot and Crypto Punks, is futuristic gaming infrastructure stored on the blockchain. With all the fundamental elements in hand, it's time to discuss how to build NFT Lego.

When selecting product components, one of the determinants is the size and synergy of the community. To secure a prosperous Loot future, holders are constantly looking for a place to implement a fully community-based operation. As one of the enthusiasts, I explored and lurked in Loot Community Discord and Loot Talk, an official forum owned by Loot, for a couple of days. If you are comfortable being an outsider browsing and overseeing what's happening in the community, it might be fine for you to jump on and off from each forum constantly. But once you decide to get your hands dirty, it won't take long to find yourself lost in the massive info and posts and get stuck to find the synergy to promote Loot in the right direction.

Browsing from one tag to another, updates including poor related advertisements and promotions come to you every second; it's not hard to be dragged from one topic to another quickly. You may join a topic on Discord, then follow the link to the formal Loot Talk for detailed discussions. According to the current guidelines, to follow up with a proposal on Loot Forum, you have to wait for up to 3 days to see the final version of the proposal to fulfill the sufficient engagement and finalize the community feedback. Then, head to Snapshot, waiting for the moderation team to raise the proposal.

Basic decentralized decision-making starts to process. But the discussions here are scattered and disorganized.

Owners must operate multi-platforms and forums to join the discussions. Space of conversations and actions are separated and lack consistency. The Loot community and the bordering crypto worlds seem to be independent of each other. A prototype of a decentralized autonomous community is just rising, problems above have seriously disrupted the efficiency of decision-making and slowed down the execution speed. Meanwhile, people holding NFTs from multi-platforms may have to learn and push themselves to be familiar with guidelines over and over. Much complicated and fragmented work raised the community's entry barriers, leading to an incidental and considerable loss of the underlying community value.
NFTs have taken into phase II, where the infrastructure has been in place to build a generational land. However, traditional communication tools are missing to catch up with the paradigm shift from thinking in funnels to an interoperable game economy shaped in a pyramid. In the futuristic metaverse, economies from different games are now interoperable. Players or traders are playing the market more than any game.

Web 3.0 freed games from virtual walls. And game developers have embraced the new paradigm where crypto items are valued by others as well. The attention makes derivatives on top of Loot be something that can raise waves among the public. To attract, hold and manage the attention of your crypto assets, a clear and smooth bottom-up decision-making process is under urgent need. It's critical timing to see anyone who can make a quick reaction to the Web 3.0 decentralization movement. To fulfill the demand, a competent community server must be capable of ensuring that public opinion is fully informed and efficiently implemented, rather than a scattered, directionless process that allows various voices to disrupt the view.

The traditional community mechanism is lagging far behind the development of Web 3.0. It cannot meet the demand for subsequent metaverse construction or further plans based on NFT phase II. The viral social network and the momentum of actions have been overloaded for the current platform.

To bring ample decentralized imaginations alive, owners are looking for a platform they can land on to formulate and implement development strategies. When the metaverse reaches the real world, game players will be joint developers as well. What will an ideal DAC look like? Think about a platform built on blockchain technology where actions are recorded on-chain to be traceable and reliable.
We expect to see the owner's identity verified as an entry ticket to ensure the integrity from the source and consistency of operation since owning the assets. More than a forum or voting mechanism, a tool that meets the above demand should provide in-app or in-DAC trade and keep interoperable to the mass market. To grow the size and engagement of your community, the platform needs to be functional to give a smooth experience where discussions, proposals, and community tasks are in one place.

A community is an ecosystem asking for sustainable and decentralized interoperation, where convincing custodians, roundly elected from the community, should be in place to maintain an overall running. Then, additional expansions will be further developed as the community grows. An ideal DAC (decentralized autonomous community) should allow members to lend and stake social NFTs with auto-generated and accumulated staking rewards.

Social NFTs like Loot have long-lasting potential and creative depth awaiting us to explore. It's a seed with hard shells around it. When the product path is clarified, we expect owners to design their token economy and break through all the restraints.