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Bloot NFTs transform Loot into a game involving cock rings and ball gags. The unofficial Loot offshoot is drawing attention and draining cash.
When Dom Hofmann announced Loot, an NFT project with 8,000 randomly generated treasure sheets for a videogame he hadn’t yet produced, Ethereum developers filled in the blanks with character sheets, artwork, and music.
But the most popular offshoot project in the last 24 hours has nothing to do with Loot’s mediaeval lore’s noble romance. Its most cherished possession is a virtual cock ring, not a magical cloak or a well-honed sword.
Bloot, or Based Loot, replaces the medieval treasure of Loot NFTs with memes lifted from crypto speculators on 4chan, Reddit and Crypto Twitter.
Bloot’s heroes don “‘ERC-20 Poor’ Maxi Skirt of Rugging” instead of Loot’s “Divine Robes of Anger.” Bloot provides “Moon Shoes of Death” instead of “Wool Shoes.” Bloot’s troops fight with “Baguettes of Shit” rather than “Short Swords.”
Bloot NFTs have changed hands for $5.3 million in the last day, while the floor price has climbed to 1.44 ETH ($5,600). Bloot supporters have exchanged $143 million in Based Gold, or BGLD, a fork of AGLD, Loot’s cryptocurrency.
According to Nansen data, this places Bloot as the fourth-most popular NFT project of the day.
While Loot itself is still the most-traded NFT project, with volumes of 3,325 ETH about double Bloot’s and its average price of 16 ETH over ten times as much as the average Bloot, none of Loot’s derivative projects are taking off as fast as Bloot.
Bloot’s rise, however, has come at a cost: its sense of humor has alienated prominent NFT investors. Pranksy, a prominent NFT collector, told Decrypt the community is “a very nasty community built up of 4chan forum posters,” and represents “the worst side of nfts.”
Will Papper, the developer of Loot’s ERC-20 token, AGLD, stated on Twitter that he has gotten death threats from the Bloot community and that only “scammers” would claim that BGLD is linked with AGLD.
Beanie, the most popular Bloot investor, has advised the Bloot community to be gentler with Papper, but Bloot’s Discord discussion is far more aggressive and arrogant than Loot’s optimism.
Loot’s writers are hard at work crafting war stories for Loot holders to enjoy. However, it appears that their first major test may come from outside the ecosystem, from those who arm themselves with Bloot’s “Ball Gag of Fomo” instead.