Big Time Studios, the powerhouse behind the smash-hit web3 game Big Time and the Open Loot platform, is turning heads again with a huge announcement. The Token Generation Event (TGE) for $OL, Open Loot's first utility token, is set to launch on November 19th at 6:00 AM EST. With this launch, players who've been collecting Open Loot Reward Points (OLRP) can finally convert their points into $OL, unlocking exclusive perks.

"We're flipping the script on token launches. Instead of the usual fundraising frenzy, the launch of $OL is about giving back to our incredible community of players and game developers. From lower transaction fees and exclusive premium currency bundles to invite-only early access to Open Loot games, special NFT sales, tokens in-game drops during exclusive gameplay, and in-game perks," said Ari Meilich, the founder of Big Time Studios.

What Is Open Loot?

Open Loot, founded by Ari Meilich—the mastermind behind Decentraland—is a web3 gaming distribution platform designed to tackle the typical pain points of blockchain games. It focuses on usability, scalability, and compliance, and has become a one-stop solution for game builders to integrate blockchain economies seamlessly.

This year alone, the platform has powered nearly half a billion dollars in transaction volume. Its cutting-edge platform includes NFT rental systems, easy payment options (crypto and non-crypto), and patented Vault technology, which simplifies NFT trading by removing gas fees. From casual players to web3 veterans, Open Loot has made blockchain gaming more accessible.

The $OL Token

The launch of $OL (formerly $OPENLOOT) marks a major milestone for Open Loot's platform. As a marketplace token, $OL aims to enhance user engagement and streamline activities across all Open Loot games. Whether you're unlocking exclusive perks, scoring discounts, or accessing special events, $OL is designed to elevate your gaming experience.

Utility Highlights:

• Marketplace Benefits: Pay for premium currencies, NFTs, and in-game items with $OL for discounts tied to your VIP tier.
• Exclusive Sales: Some NFT drops and premium currency packs will be available only to $OL holders.
• VIP Perks: Gain access to higher-tier rewards, early sales, and even in-game bonuses like extra slots or exclusive areas in Big Time.

Converting Open Loot Reward Points to $OL

For those already deep into Open Loot's ecosystem, the wait is over. You can soon convert OLRP into $OL starting November 19 at 6:00 AM EST. The conversion rate is simple: 100 OLRP = 1 $OL. Each day, up to 30,000,000 OLRP (or 300,000 $OL) can be swapped globally.

Here's how to get started:

• For Non-U.S. Users: Log in to the Premium Currencies Page to convert your OLRP. Tokens will remain in your Open Loot account.
• For U.S. Users: Follow the same steps, but $OL will automatically transfer to your connected wallet during conversion.

Important notes:

• No Take-Backs: Once converted, $OL cannot revert to OLRP.
• OLRP Expiry: These points expire after two years, so don't wait too long.

How to Earn OLRP

Earning Open Loot Reward Points is easy and fun. Players can accumulate them by:

1. In-Game Activities: From Big Time's Showdown events to special chest drops, gameplay is rewarding.
2. Social Engagement: Join the Open Loot Social Media Points Program or the Clockie Chaos Telegram app to earn points.
3. Leaderboard Wins: Compete on the Big Time Leaderboard for top rewards.
4. Airdrops: Take part in the $OL TGE to earn bonus OLRP. To be eligible, players must have transacted on the Open Loot marketplace or completed a Prestige Portal in Big Time since October 2023.

Once collected, OLRP becomes your gateway to $OL, adding layers of value to your time on the platform. 

The Games Using Open Loot

Big Time Studios leads the charge with Big Time, a free-to-play multiplayer action RPG where players explore time-traveling adventures and earn NFTs. But Open Loot doesn't stop there. Its growing list of partners showcases the platform's versatility:

• Worldshards: An expansive MMORPG with sandbox elements.
• Boss Fighters: A high-energy multiplayer action game blending VR and PC gameplay.
• The Desolation: A cross-platform looter-shooter that's redefining immersive gaming.
• ShatterPoint: A mobile RPG packed with fast-paced action.
• One Tap: A tactical first-person shooter for strategy enthusiasts.

These games benefit from Open Loot's robust infrastructure, which makes integrating blockchain features effortless for developers and seamless for players.