HOW IT WORKS ?

Exclusive Membership

Outside of the open membership registrations ending 30 June 2021, you must be invited to join. Members whitelist their invitee’s details, then they can sign up.

The BUN

Members buy BUN, a cryptographic token of limited supply, to bid at auctions and redeem for services and benefits. BUNs are purchased in packs of 25 for 5 USDC. Only 500m BUNs will ever exist.

Auctions

One of a kind NFTs are listed in auctions. We custody physical creations linked to NFTs at our undeground, temperature and humidity controlled vault. Members bid one BUN at a time in a time-limited auction. A bid in the last 15 seconds resets the timer to 15 seconds. The last bid when the timer reaches 0, gets the NFT.

The Oven

All BUNs spent by members are directed to the Oven, a time-locked wallet. The Oven redistributes a portion of the BUNs back to members every Sunday as rewards proportional to their participation level at auctions. 

Rewards & Status

Completing NFTs in a themed set unlocks additional BUN rewards from the Oven and mystery gifts.

LTT

You get Loot Tickets (LTT) when you bid at auctions. LTT are used to buy items that are not available anywhere else, only in our soon to be released Satoshi’s Lounge store.

Creators

We provide a different path for creators to be recognized and showcase their amazing talents, no matter where they are from. Welcome to the world’s first NFT talent show. 

Blockchain

Initially, the activities on Loot NFT are centralized. Over time our centralized modules are dismantled and carried by the LNFTxHABN permissioned blockchain, that are then meshed with the Cardano blockchain.
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