Collectors spent $26 million on black images with white text
The NFT collection Loot for Adventurers has made an impact in the DappRadar NFT rankings, as it recorded more than $26.4 million in trading volume in the past 24 hours. However, the collection launched a few days ago.
NFT traders have sold 1,213 Bag NFTs in the past 24 hours, involving 1,041 sellers and buyers combined. The total supply of 7,779 LOOT tokens, is in the hands of 1,946 token holders. Two wallets hold more than 4% each. Furthermore, the top 10 collectors own 21% of the supply, which is quite a lot.
Loot for Adventurers has already seen some premium sales, with Bag #119 selling for 29 ETH or $102,000 early this Wednesday. However, many other sold NFTs in the series have a value of around 7 or 8 ETH. Loot for Adventurers currently has a 6.7 ETH floor price.
What determines value of Loot NFTs
When it comes to explaining this Loot hype, things become a bit complicated. The Loot NFTs offer a black sheet filled with 8 item names, making it look like an item list from the role-playing game Dungeons & Dragons.
Instead, there’s creativity in the community. Loot for Adventurers offers a blank sheet for the community to build upon. Artists could make character designs based on someone’s Bag, and games could use the character information to create their own versions. Furthermore, the developers have stored all data for these loot bags on-chain, allowing anybody to tap into them. For example, someone made Lootcharacter.com to show a pixelated interpretation of a character.
The developers themselves aren’t trying to do anything else. Looking at the official website, they’ve now put the fate of their Loot for Adventurers NFT collection into the hands of the community.