Dungeons and Degens: Why Everyone Is Talking About Loot

The Breakdown

Nathaniel Whittemore

Investing, Business

4.8 • 786 Ratings

🗓️ 4 September 2021

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this edition of the Weekly Recap, NLW looks at Loot (for Adventurers), the newest NFT sensation. Unlike the “JPEG” or Avatar NFTs, Loot bags are sets of theoretical items for a theoretical game set in a theoretical fantasy world. Created by one of the co-founders of Vine, Loot absolutely took off this past week, racing to be one of the most traded NFTs, and attracting thousands upon thousands of people to start creating the world around those items. NLW explores what it means for the NFT space specifically and for the competition between digital and physical worlds more broadly. Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.1	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:16.2	The breakdown is sponsored by Nidig and produced and distributed by CoinDesk.
0:22.7	What's going on, guys? It is Saturday, September 4th, and that means it's time for the weekly recap.
0:29.2	Now, the weekly recap is a very loose heuristic for what a show is supposed to be.
0:34.2	Sometimes I really do a true weekly recap where I look at four or five different areas.
0:39.3	Sometimes it's just a topic that was important but didn't fit into a show throughout the week.
0:44.4	This is the latter version of that. Today we are talking about dungeons and D-Gens and why everyone
0:50.1	is talking about loot. Last weekend, Dom, one of the founders of Vine, announced
0:56.7	loot. He tweeted, innocuously enough, text-based fantasy crypto loot. Use your imagination to play,
1:03.4	and maybe a smart contract, Dungeons and D-Gens. Lute was a series of 8,000 algorithmically
1:09.3	generated sets or bags of items, each of which had a different rarity.
1:14.0	These 8,000 bags were free to mint from the project's smart contract without a fee other than the gas fee.
1:19.6	When the website for the project was launched, it said only,
1:22.3	Lute is randomized adventure gear generated and stored on-chain.
1:26.3	Stats, images, and other functionality are
1:28.4	intentionally omitted for others to interpret. Feel free to use loot in any way you want.
1:34.6	So what though actually were these bags? Well, for those who are used to role-playing games like
1:40.0	Dungeons and Dragons, they made complete sense. They were basically in-game items for an as-yet-to-be-created
1:46.6	fantasy game. They were, however, presented in a slightly jarring way. For those used to thinking
1:52.4	about NFTs as JPEGs, I mean, that's what we call NFTs these days JPEGs, right? That have a
1:57.8	particular visual style or are algorithmically generated art.
	...

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