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1 2 3 4 5 6 Appendix D. Analysis of Loot Loot [34][35] is a type of NFT product that uses ERC protocol on Ethererum, with totally 8, 000 entries (7778 for trading, 222 for team incentives). The project presents all their products in the form of TEXT, removing functionalities of images, stats, or any representative formats. Users can only see eight lines of sentences, describing the attributes of game gears (e.g., weapons, armor, neck- laces, Rings). In order to create scarcity, Loot adds randomized prefixes (with 42% probability) or suffixes (8.7%) for each line of attributes (see the following code, line 2), according to the assigned tokenID from users. Users can only use Etherscan’s smart contract to cast loot, rather than its official website. Selected code in Loot project function pluck(tokenId , keyPrefix , sourceArray) internal view returns (string memory) { uint256 rand = random(string(abi.encodePacked(keyPrefix , toString(tokenId )))); string memory output = sourceArray[rand % sourceArray.length]; uint256 greatness = rand % 21; if (greatness > 14) { output = string(abi.encodePacked(output, " ", suffixes[rand % suffixes.length])); 7} 8 9 10 11 12 13 14 15 16 17 18 19 if (greatness >= 19) { string[2] memory name; name[0] = namePrefixes[rand % namePrefixes.length]; name[1] = nameSuffixes[rand % nameSuffixes.length]; if (greatness == 19) { output = string(abi.encodePacked(’"’, name[0], ’ ’, name[1], ’" ’ , output)); } else { output = string(abi.encodePacked(’"’, name[0], ’ ’, name[1], ’" ’ , output , " +1")); } } return output; } As faced by other NFTs, Loot confronts many drawbacks either. Firstly, the value of NFT is uncertain. Loot is still in the early stage of development in the current stage. Despite the price continuing to rise, there is no lack of hype. The real consensus from communities should be maintained for a long period. Secondly, difficulty in minting and high gas cost retard its wide participant. Loot does not have a front-end Dapps, which can only be minted in the Web3 browser. Complex steps become a big challenge for newcomers. Meanwhile, the high gas fee of operations in Ethereum keeps many people away from this game. The trading or minting fees can reach up to tens of hundreds of dollars for each operation. Thirdly, the extensibility needs further improvements. The current version (experimental stage) merely covers eight explicit attributes in the RPG game. Also, there is no space for on-top applications. The only future might be to develop more attributes and slots for sale. 22PDF Image | NFTs Non-Fungible Tokens Focus
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