MIAMI – Lootverse, the first discovered parallel world, has announced its own social media. Lootfeed is an alpha product and can be accessed directly from the interactive map by clicking on the news icon on the top bar. Despite combining similar functionalities from popular platforms and tools available in the market, it stands out from the others by using an innovative payment system created to solve issues like spamming, bots, trolls, and many others.
Lootfeed allows users to post text, images, and videos to their followers and to the global audience. They can also send private messages, ask for support and look for information in the Library. Just like on popular social media platforms, users can interact and engage with each other. The first five posts and comments are free. After that, a fee of 0.01 Lootian Ticket (LT), Lootverse’s redemption coin, is paid per post, and 0.001 LT per comment. For each comment, like, or dislike, the author of the post receives 0.0005 LT.
By clicking on the Lootmark icon, displayed as a flag on the map top bar, users can search for other people (Lootizens), businesses (Portal Operators), and landmarks (Destinations) to follow. Each profile Lootmarked costs a minimum of 0.02 LT (about US$ 0,14). Half of it goes to the profile owner, and the other half is burned. Users can also set up a “Swear Jar” to be deposited by those who Lootmark them as a good behavior bond, which is burned if the Lootmarked user misbehaves and gets banned.
“We believe this mechanism will control the spam and automatically punish negative behavior. Another benefit is that Lootfeed does not have advertising. The number of global posts allowed per user is defined by their rank in the Hall of Fame, which limits commercial content leaving more space for organic interactions,” said James Duchenne, CEO of Loot NFT, the company behind Lootverse.