Categories: Press Release

CoinsLoot Launches the World’s First Crypto Loot Boxes

PRESS RELEASE: CoinsLoot, a crypto-based startup, has launched the world’s first crypto loot boxes. In the usual fashion, the loot boxes are concealed in digital boxes, allowing you to choose whichever box you believe has the best loot.

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CoinsLoot is a decentralized app, or dApp, that runs on a blockchain outside the purview and control of a single authority. Although the platform’s main focus is on cryptocurrencies like Ethereum and Bitcoin, the loot boxes also contain real-world items like iPhones, a Tesla Model X and electronic merchandise. The company also aims to address many of the controversies associated with traditional loot box systems.

For starters, it will display odds of acquiring various items openly, a right that some businesses tend to deny their customers. It will also reduce the costs of purchases by using USDT or the LOOT token instead of FIAT currencies.

Gamifying Crypto

One of the motivating factors of launching CoinsLoot was to add excitement to the process of trading and investing in crypto. Gamifying crypto with a reward-based system ensures people have fun trading while possibly winning free crypto and/or real-world items.

Vitally, CoinsLoot wants to involve everyone in this fun experience. That’s why it goes beyond crypto to include items like laptops, smartphones, Netflix subscriptions, sneakers and headphones are among the list of items users can expect to win on its platform.

A Provably Fair Algorithm

Winning crypto on CoinsLoot is not just dependent on luck. The process is provably fair, meaning the algorithm used by CoinsLoot assures users will always win items greater than or equal to the value spent on the loot box. In addition, users can check software to verify that they won or lost legitimately. What’s more, the engine gives players a second chance at winning different rewards.

First, users pick a box they want to open. The fee paid for the box includes an opening free. Once the user opens the box to reveal the items won, they can either keep the items or choose another box. Alternatively, users can opt to get their money back. There are no losses made while trying to score loot boxes at CoinsLoot. 

A Platform Where Everyone Wins

While crypto fans can stake their crypto to win loot boxes at CoinsLoot, crypto investors can stake their Loot tokens to earn profits. In order to stake, users must purchase LOOT tokens using Ethereum or USDT. After that, they can stake some of their coins to earn profits when players open loot boxes.

There are two ways to stake tokens on CoinsLoot: quantitative and age staking. The first method involves staking a certain amount of tokens while the latter option entails staking tokens for a long time. Due to the staking process, users who get on board the CoinsLoot project early on will have a chance to earn more on their investment.

The CoinsLoot project will feature 100 million Loot tokens. They are ERC-20 tokens and will be supplied in the following manner:

  • IEO Sales: 70 million
  • Team and Founders: 15 Million
  • Influencers and Advisors: 10 Million
  • Bounty and Airdrop 5 million

Transparency and Value from CoinsLoot

As mentioned, CoinsLoot has a mission to prove that loot boxes don’t have to be controversial. They can be used to cheer up video gamers and reward crypto investors without exploiting them in any way. CoinsLoot has already provided proof of how it plans to run things.

The algorithms used are fair. The fees are public and players don’t lose money if they fail to open their favourite loot boxes. Investors can also earn a 10% commission by recommending people to buy and stake LOOT tokens.


Disclaimer: This is a paid post. Do your own research related to the promoted company or any of its affiliates or services mentioned in the article. Coingape.com does not hold any responsibility for your damage or loss.

Achal Arya

I am an entrepreneur and a writer with a bachelors degree in Computer Science. I manage the blockchain technology and crypto coverages at Coingape. follow me on Twitter at @arya_achal or reach out to me at achal[at]coingape.com.

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