Below is our recent interview with Justine Lu, Co-founder & CEO at Lootex:
Q: Could you provide our readers with a brief introduction to your company?
A: Lootex is a cross-chain game item shop for the Metaverse that aims to provide both efficiency and convenience for its users. Lootex’s marketplace allows players from around the world to purchase avatars, rare weapons, lands, as well as pets or monsters for their favorite NFT games. Our marketplace currently supports buying, selling, and trading in-game NFTs on ETH, BSC, Polygon, Arbitrum, and AVAX blockchains. We have always believed in putting gamers first, which has been achieved by providing gamers with the best trading tools for in-game assets.
Q: Any highlights on your recent announcement?
A: Lootex has just made more headway in getting larger recognition in the space of the metaverse. In the past week, we were invited to help curate the first metaverse fashion show in Asia! We are also proud to announce that Sebastien Borget, Co-Founder and COO of The Sandbox, is an official advisor and investor for Lootex! The support from such a huge contributor to the future of the metaverse and its assets shows that we are on the path to not just being pioneers in the field but a major player in NFT space! We also plan to build multiple game shops within The Sandbox using our own land plot where gamers will be able to feel the realism of buying things inside the Metaverse.
Earlier this year we announced that we raised US$9M to build out our NFT and in-game asset trading platform! The round was led by a number of venture capital firms and strategic partners such as Spartan Capital, Infinity Ventures Crypto, LD Capital and Akatsuki. Other participants include Polygon Studio, HTC, Huobi Ventures, and Morningstar Ventures, among many others. Huobi, Polygon Studio, Avocado Guild, HTC, and more participated.
Q: What are the biggest challenges that NFT marketplaces are currently facing? How is Lootex tackling these challenges?
A: We found out that good NFT projects are sometimes having trouble getting exposure on most NFT marketplaces. Their listings may get buried many pages deep, and hard to reach to their TA. Lootex values community’s input and likes to leverage their broad knowledge of what’s new and worth sharing out there. We are building a system where our Lootizens may vote for which store’s banner deserves to be put on the prime spot, and there may be a rating or review system for each game.
Q: What can we expect from your company in the next 6 months? What are your plans?
A: In our pursuit of continual growth, we are currently developing more convenient and more impactful features such as a more robust platform, better trading user experience and more social / integration. Furthermore, we are collaborating with more than 50 game projects around the world, and the most anticipated Launchpad is currently being developed. Players can participate in items’ presale on our launchpad if they complete missions developed by Lootex or the game team. In return, they can win limited genesis items they can brag about.
Q: What is the best thing about your company that people might not know about?
A: The core team of Lootex consists of game industry veterans. We know what gamers want, we’ve played the games, and we personally use Lootex. Firstly, we have a specific target market focusing on gamers. Other markets are just selling NFTs, what we have is our Launchpad featuring limited edition game asset NFTs.
Lootex also supports multiple blockchains giving players a good user experience. As an NFT trader, it is a hassle to have to use multiple platforms / marketplace just to list your NFTs.
Last but not the least, we feature new projects (for game creators) on top of our marketplace – giving each project an opportunity to have enough exposure. Usually, a marketplace only features well-known / popular / best selling collections. Here in Lootex, we believe that every project has the potential to be known if given the chance.