Much like Blockchain technology itself, the concept of crowdfunding does away with some of the unnecessary middlemen and gatekeepers that can sometimes inhibit the implementation of high-potential ideas. The aforementioned platforms paved the way for decentralized crowdfunding models like ICOs, IEOs, IDOs, and more.
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From GoFundMe to IndieGogo and Kickstarter, crowdfunding is no stranger to the world of fundraising. The internet allows people with ideas and expertise to connect to potential investors who have a specialized passion or knowledge about a specific service or product.
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CoinsLoot users can crowdfund loot boxes with USDC, a cryptocurrency token pegged to the value of the U.S.Dollar. As previously mentioned, these loot boxes are filled with crypto coins and even physical items such as iPhones and Teslas. In doing so, CoinsLoot has found a fun and innovative way for users to invest in the cryptocurrency world without having to deal with its infamous volatility, while also using tangible items as a competitive edge. Investment has never been so exciting!
CoinsLoot also features its own ERC-20 (Ethereum-based) token, the LOOT token, which can be purchased on the platform’s ICO section. This system ensures transparency and brings community-driven governance to the platform. The tokens allow users to earn rewards by staking tokens and reaping additional benefits.
Simply put, CoinsLoot is a blockchain-based decentralized platform that enables users to purchase loot boxes that are filled with both cryptocurrency tokens and tangible items. Loot boxes, or ‘mystery boxes’, have been around for some time now and are closely connected to the gaming and art industries. They add a mysterious and exciting element to purchases made in these realms.
So, what exactly is CoinsLoot.com?
Currently, we are witnessing the birth of the Decentralized Finance (DeFi) and the Non-fungible Token (NFT) sectors which are, once again, revolutionizing the world of crowdsourced projects and bringing more freedom and empowerment to common investors, entrepreneurs, artists, influencers, and more.
Loot Box Crowdfunding: A New Use Case for Crypto
However, loot boxes have never been done like this before. The CoinsLoot platform ensures that the buyers of these mystery boxes are always rewarded through the use of provably fair algorithms. This guarantees that users will always receive items with a value that is either greater than, or equal to, the value spent on said box.
CoinsLoot: A New Way to Crowdfund
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