Big Time Studios, the creator of the Open Loot platform, has announced a $150 million fund aimed at supporting blockchain games built on its ecosystem. This fund, known as the Open Loot Fund, will focus on helping developers with financial and strategic support as they create and market blockchain games.
The Open Loot platform, which includes the Open Loot Chain and NFT marketplace, is already being used by games such as World Shards and Shatterpoint. With the new fund, developers will have access to resources for development and marketing. Additionally, Big Time Studios plans to offer guidance on in-game economy design, sales strategies, marketplace optimization, marketing, and building player communities.
The launch of the Open Loot token in November marked a key milestone for the platform. Currently, the token has a market cap of $64 million, based on 5% of its total supply in circulation. Big Time Studios has also shared some impressive statistics about its marketplace. It has generated $500 million in lifetime trading volume and registered 1.5 million accounts, with a substantial portion tied to Big Time, its flagship game.
By combining financial backing with strategic advice, Big Time Studios aims to position the Open Loot platform as a go-to option for blockchain game developers. The fund could also help attract more creators to the space by easing some of the challenges associated with game development and player engagement.