May 29, 2018 - Doug Kinney earned a Bachelor of Science degree in business admin- ... server, middleware and cloud platf
W H I T E PA P E R
Important Notice This Document may contain product statements regarding the LOOT token sale and the results of operations, plans, objectives, and future performance of the business. Statements preceded by, followed by, or that include words such as “may,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential” or similar expressions are intended to identify some of the forward-looking statements. All statements, other than declarations of historical fact, included in this TSD that address developments that may occur are product statements. These issuances are only predictions. Actual events or results may differ materially. These statements are based upon certain assumptions and analyses that Game Loot Network™ makes based on its perception of historical trends, current conditions, expected future developments, and other factors appropriate in the circumstances. Whether or not actual results and developments will conform to Game Loot Network’s™ expectations and predictions is subject to a number of risks and uncertainties. Including the general economic, market and business conditions, changes in laws or regulations made by governmental authorities or regulatory bodies, and other world economic and political developments. Consequently, all of the product statements made in this document are qualified by cautionary indicators and there can be no assurance that the actual results or developments Game Loot Network™ anticipates will be realized or, even if substantially realized, that they will result in the expected consequences to its operations or the value of the services it offers. Moreover, neither GLN or any person affiliated assumes responsibility for the accuracy or completeness of the product statements. Game Loot Network™ is not under a duty to update any of the product statements to conform to actual results. Lastly, there are risks associated with the use of blockchain token technology for the LOOT token sale process, and the purchase of LOOT generally. The Purchaser agrees that the Purchaser is aware that this and related documents cannot disclose all information about all potential risksdueto avarietyof possiblesituations.
2
Table of Contents 01.
Introduction
4
1.1 The Problem 1.3 Our Philosophy
4 5 5
02.
Gaming Reimagined: The Platform
6
03.
User Demographics and Types of Membership
7
04.
Game Loot Network’s™ Utility-Token: LOOT
8
4.1 LOOT Use-Cases
8
05.
GLN’s Other Digital Units
9
06.
Roadmap
10
07.
The Team
12
08.
Token Sale Structure
16
8.1 Distribution of Proceeds 8.2 Token Storage and Risks
19 20
09.
Conclusion
21
10.
Glossary of Related Terms and Definitions
22
1.2 Mission Statement
3
01
Introduction 1.1 The Problem In the early days of gaming, no one could have predicted the video-game industry’s multi-billion dollar trajectory. Innovators evolved pixelated sidescrollers into digital odysseys through immersive lands. Design tools and development resources streamlined game-construction, and more games exist today than ever before. Unfortunately, this wake of evolution catalyzed several issues within the industry. Specifically in mobile gaming, centralized platforms like the App and Google Play store monopolize the lionshare of the market’s audience. Apart from outlier exceptions, mobile games outside these exchanges struggle to gather a user base. Within these overpopulated platforms, Indie developers lack the budget to compete with the corporate colossus. Design costs and marketing campaigns necessary to launch a successful game often preclude developers from delivering their visions; ideas fail despite their merit. While gamers may not struggle to find games to play, their role in the market goes unrewarded. Companies rely on players for beta-testing, customer acquisition, and game curation. But, they rarely share rewards beyond in-app upgrades or early access to anticipated content. And though users are the obvious audience for games their desires rarely feel felt in the blueprinting stage of development; companies design game concepts without ground floor feedback from their future player-base. This leads to unwanted creations and frustrating features.
4
01
1.2 Mission Statement Game Loot Network™ will champion developers and gamers by creating a virtual platform that rewards players with real-value and facilitates ‘any-budget’ game design.
1.3 Our Philosophy We want to give artists the resources to create the games they envision and reward the players who populate their virtual worlds. Game Loot Network™ will democratize the gaming experience, enabling developers to create and prosper regardless of gatekeepers or budget constraints. We want to give gamers a voice at the earliest stages of design so the games built are the ones people want to play. Video-games offer rich narratives and interactive experiences unrivaled by any other medium. The space breeds creativity and innovation, but budgetary limitations, overbearing publishers, and marketing resources pigeonhole creatives. We want to transform the industry into a meritocracy where visionaries thrive even if they, at first, lack extensive budgets.
5
G ami n g R ei magi n ed : Th e Platfo r m
02
Gaming Reimagined: The Platform Together with the native LOOT cryptocurrency, the platform solves the systemic issues within the gaming industry. Users enter the application, create a login, and load the Game Loot Network™ lobby. The hub features three gateways:
Build
Play
Earn
Through this portal developers and
This doorway will host a
The Earn gate offers an array of
users access a crowdfunding catalog.
decentralized app store and
revenue generating tools. Through
Indie designers submit their game
embedded games. Users can play
this door, players can enter three
ideas to a list within this screen.
within the platform or download
subset doorways:
Their proposal page might include
curated titles. In a self-sustaining
screenshots, demos, or gameplay
loop, ideas produced in the Build
footage. Users offer LOOT tokens
portal generate income for gamers
to sponsor auspicious projects.
and designers in the Play gateway.
In exchange for their cryptocoins, backers receive a revenue generating
Competitive Tournaments — Tourney champions receive sleek electronics or LOOT token prize pools. Now any user can experience the thrill of high-stakes E-Sports.
percentage of the upcoming game.
Referral System — An extensive
Developers reduce costs and
progression system allows members
gain an incentivized ground floor
to create high-yield residual
following. A decentralized collective
commissions for sharing the
thereby produces games through
platform.
democratic demand. If an idea
Battle Bidding — Online auctions
merits engagement it will be realized;
pit players against the clock in
creatives will thrive unburdened by
competition for discounted gear.
budget constraints.
LOOT Store — Purchase premium membership, credits, bids, and
Game Loot Network™ foresees this template accommodating infinite expansion. As gaming technology creates new formats, such as VR, additional doorways will be added. A gateway for VR interactions has already been planned. Fresh features, based on community input, will always be in the works. 6
Use r D emo graph i c s an d Types o f M ember sh i p
03
User Demographics and Types of Membership There are various titles referenced throughout this whitepaper. These refer to respective and overlapping user-groups on the platform.
01
02
Game Developers
Sightseers
Designers who construct games with
Free players are designated as
the resources provided by the Build
‘Sightseers’ in Game Loot Network™.
portal. Developers may also integrate
They can play games for free, but
existing games with the platform.
they cannot enter tournaments, compete for real-life prizes OR earn
03
04
Emissaries
Groundbreakers
Groundbreakers enrolled in the
These are the premium network
referral system become Emissaries.
members. They gain entry into tournaments, crowdfund games for revenue, and produce recurring income.
05 Curators Curators are Groundbreakers or Emissaries who submit LOOT to game designer’s indevelopment games. They are later reimbursed with recurring revenue based on that title’s success.
7
G ame Lo o t Net wo r k ’s™ U ti li t y-To k en : LO OT
04
Game Loot Network’s™ Utility-Token: LOOT Cryptocurrencies are digital coins which can be exchanged for fiat, or any currency issued by respective governments. Cryptocoins allow entities, like GLN, to pay a global audience instantaneously without combatting the fees and time involved in currency exchange. In order to reward user engagement, Game Loot Network™ created their own utility-token, ‘LOOT’. The currency allows specific interactions on the Network to trigger cryptocoin allotments. The blockchain’s network tracks these engagements and rewards LOOT to users who complete meritorious actions such as winning a gaming tournament or inviting a friend. 4.1 Mission Statement As a utility-token, LOOT will have multi-functionality specific to the world.
LOOT
Planned uses
Enter competi-
In-game boosts
tive tournaments
and upgrade
Purchase Games on Arcade Town’s decentralized game stone
Community Crypto-pooling in The Game Forge
8
GLN’s Other Digital Units In addition to LOOT, there are four other units available on the platform. These, however, are not cryptocurrencies and cannot be exchanged anywhere other than Game Loot Network™.
Credits
Tickets
Bids
Premium Bids
Groundbreakers receive
Tickets are vouchers
Bids can be obtained with
Premium bids are used to
a monthly endowment of
obtained from winning
LOOT and with Credits.
enter auctions for bundles
‘Credits’. These can be
tournaments. These units
With these units, players
of discounted LOOT.
used to purchase in-game
can be exchanged for re-
can Battle Bid for heavily
boosts and enter tourna-
al-world prizes.
discounted electronics.
ments. Credits can also be
PREMIUM+ MEMBERSIP
BID
Redeem
Monthly grant
swapped for Bids.
Tournament play
Exchange In-app purchase
GL N’s O th er D i gi tal Un i ts
05
CREDITS
DOLLARS
TICKETS
PREMIUM BIDS
LOOT auctions 9
R o ad map
06
Roadmap The platform will rival and innovate upon centralized systems like the Steam and App store. The cornerstone of the application will be the interaction between the Build and Play portal. The LOOT cryptocurrency underpins each platform resource and allows virtual achievements to have real-life consequences. As larger, more complex games are constructed in the Build portal and downloaded through the Play doorway, third-party worlds will interact with and use the LOOT token to incentivize their economies. LOOT will unite thousands of virtual worlds in unforeseen ways with Game Loot Network™ as the main hub. Third-party communities could use LOOT to offer their own competitive tournaments or give in-game items real-world value. Game Loot Network™ will be the one stop shop for all of gaming: play, purchase, and design. Worldbuilding and charm of character sets GLN apart from bland amalgams of resources; it represents an ever expandable revolution.
February 2018 The utility token, ‘LOOT’, becomes the gaming cryptocurrency of LOOT Land.
March 1st, 2018 Game Loot Network™ launches the PRIVATE SALE for their global ICO to accredited investors.
May 29th, 2018 Game Loot Network™ launches the PUBLIC SALE for their global ICO.
August 1st, 2018 GLN’s 1.0, a virtual world built on the blockchain, is released. Players can travel to locations within the fantasy environment and
September 1st, 2018 The platform’s arcade region, Arcade Town, hosts embedded games and competitive tournaments. Tourney victors receive real-world
interact with revolutionary game features. Games are available within the platform for download. Cryptocurrency combined with smart contracts allow for real-life rewards.
prizes.
10
R o ad map
06
October 1st, 2018 GLN’s Battle Bidding Arena open, hosts embedded games and competitive tournaments. Tourney victors receive real-world prizes.
November 1st, 2018 The Game Forge opens and will feature a list of game projects submitted by developers. Users can select from any of these projects and submit their LOOT tokens to provide developers with a design and marketing budget. When monetized, those games will generate recurring
February 1st, 2019
revenue for the developers and any user who
GLN’s Battle Bidding Arena undergoes beta
submitted tokens.
testing with Crowd Machine to transition to a decentralized battle bidding platform. Expected launch in the second quarter of 2019.
2019 Throughout 2019, a huge emphasis will be placed on growing the developer community and the user community. This emphasis will include global outreach to the independent game developer community and large scale
2020 Q1
promotions for the user community to grow their social networks inside the LOOT Land
Arcade Town’s decentralized Game Store un-
ecosystem.
dergoes beta testing with Crowd Machine.
2020 Q3 GLN’s virtual blockchain world becomes a decentralized mecca for game developers and players. Blockbuster titles are built in The Game Forge and released through Arcade Town. Users purchase and download games with LOOT tokens and the revenue splits
2020
between the original sponsors and game de-
GLN’s virtual blockchain world expands to incorporate new towns with fresh features. Developers circumvent publishing gatekeep-
2021
ers and release fully-funded games to Arcade
An array of smash hit games are produced
Town’s incentivized audience. VR and AR addi-
in The Game Forge and purchased through
tions are implemented so users can truly live,
Arcade Town. Titles offer competitive play
win, earn, and play.
with LOOT token prize pools, achievements reward LOOT, and the LOOT Land cryptocurrency underpins a vast network of third-party economies. Milestone Timeline for GLN Platform
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Th e Team
07
The Team Lance Baker is the founder, architect and President of Game Loot Network™. His expertise in “all things” technology dates back to the early days of the internet where he launched one of the first e-based tax services. His experiences as a serial entrepreneur led him across Europe, the Middle East and around the world. During this time, he assembled an incredible team of talented developers and designers to serve as the backbone of the GLN vision. An early observer of the mobile game frenzy, Lance penned his first book, Game LOOT: Grab Your Piece of the Mobile Gaming Revolution, LANCE BAKER
which taught fellow entrepreneurs to capitalize on the lucrative space.
President & Founder
His vision to innovate the multi-billion-dollar gaming industry orients the team and promises future success.
Doug Kinney earned a Bachelor of Science degree in business administration with an emphasis in accounting from Central Missouri State University. Most recently, Doug served as the Presiding Manager & CEO of VinSolutions, LLC. Through his determined leadership and market vision, he guided the company to prodigious growth which culminated in a monumental acquisition by AutoTrader.com of Atlanta, Georgia. He was responsible for managing the company’s business affairs, as well as directing its financial interests. Currently, Doug owns several luxury automobile dealerships in the Greater Kansas City Metropolitan Area DOUGLAS A. KINNEY Chief Executive Officer
and is the Owner/Founder of a successful investment firm. Doug boasts an intimate knowledge of financial operations and brings that wisdom to Game Loot Network™.
Pat Baggette earned a Bachelor of Science in accounting from Auburn University. He went on to earn his J.D. from the University of Missouri-Kansas City, School of Law. Pat was an early addition to the VinSolutions, LLC executive team and served as Chief Financial Officer and General Counsel. He was also named as a member of the governing board and led the efforts of the administrative team during the run up to acquisition by AutoTrader.com. In addition to his guidance at VinSolutions, LLC, Pat has been a member of three companies which have been recognized, several in succession, on the INC 500/5000 listing of Fastest Growing PATRICK BAGGETTE II CFO/ General Counsel
Companies. 12
07 Th e Team
Pat is responsible for all corporate accounting and tax functions. In addition to managing the financial aspects of Game Loot Network™, he handles all legal and contract issues pertaining to company operations. Pat began his career in public accounting nearly 35 years ago, moving into the legal profession 10 years later. He has managed his own law firm for 25 years. Pat has gained immense experience working as CFO and General Counsel in the fields of eCommerce, manufacturing and retail.
Scott co-founded bitHeads, inc. in 1995 and serves as its President and CEO. He has been involved in the field of Information Technology for over 25 years and has a wealth of experience in software development, computer security and telecommunications. Since co-founding bitHeads, Scott has guided the company to become one of the most successful custom app and enterprise development companies in North America. Under his leadership, the company has developed a unique mix of capabilities spanning mobile, gaming, and IoT software. Scott also co-founded bitHeads’ spinoff companies, playBrains and SCOTT SIMPSON Chief Strategy Officer
brainCloud. playBrains has released more than a dozen for-hire and own-IP games for iOS, Android, Steam/PC and Microsoft and Sony consoles. brainCloud is a backend-as-a-service for apps, games and things, and has over 2,000 developers creating applications on the platform which is used by hundreds of thousands of users daily. Scott has served on several public and private boards, and actively donates time to startups and Ottawa’s tech and gaming communities.
Rick co-founded bitHeads in 1995 and serves as its Vice President and CTO. Rick is a Senior Architect at bitHeads and has served as CTO of Natural Convergence, a bitHead’s spinout. He has been involved in the field of Information Technology for 20 years with experience in software development, documentation and training. He served as a Software Architect on Bell-Northern Research’s Generic Services Framework project, the largest object-oriented project in the world at the time. He has worked with companies such as 3Com, Fulcrum, Nortel, ObjectTime, Bell Sygma, Rational and Telus. Rick holds an Honours Bachelor of Computer Science from the University of Windsor. RICK MCMULLIN Chief Technical Officer
Rick has expertise in the architecture and development of large-scale server, middleware and cloud platforms for gaming, mobile and enterprise applications. Rick presently oversees special projects at bitHeads and currently manages bitHeads’ IoT practice.
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07 Th e Team
Paul co-founded bitHeads in 1995 and has overall management responsibility for bitHeads gaming and entertainment products. Paul is also the CDO and co-founder of brainCloud, a backend-as-a-service platform for games, gamified apps and IoT applications. Paul holds a Bachelor of Science in Computer Science Degree (Honours) from the University of New Brunswick. Paul has been leading application and gaming projects for over 20 years in the roles of senior architect, senior producer and project manager and is particularly interested in the space where technology and user experience meet–from building innovative new gaming experiences to PAUL WINTERHALDER Chief Development Officer
creating elegant apps with robust cloud support. He has been a key architect using agile development methodology and has successfully managed teams of over 100 people on large-scale development projects providing strategic guidance to companies such as EA, 3Com, Cryptologic, Nortel Networks, Canada Post, GE and IBM.
Haydn is a serial entrepreneur and Digital Marketing specialist with a degree in Economics. Over the last decade he has delivered strategic business and marketing solutions in a variety of areas, including politics, financial services and technology. He has had the chance to work with companies large and small, including the likes of HSBC, Barclays, JP Morgan and Thomson Reuters. Over the last 12 months he’s focused intensively on Blockchain technology and in particular providing marketing solutions for ICO’s. He’s currently the CMO of Game Loot Network™ and excited to help an amazing team continue their fast growth in disrupting the Gaming HAYD SNAPE Chief Marketing Officer
industry and with their imminent launch of a record-breaking ICO in March 2018. As an individual and as an entrepreneur, he looks to get involved with people who share his passion for marketing and technology. He is interested in products and services that look to positively impact people, or promote curiosity, education, inclusion, and other aspects of social and civil progress.
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07 Th e Team
James is an Australian attorney, engineer and a financial architect but, above all, he thinks like an entrepreneur. James holds degrees in Aeronautical Engineering & Law, graduate diplomas & certificates in applied finance & investments, digital currency applications, and carbon credit auditing & trading. He is a counsel at Rothmores Lawyers, acts as an agent for Phoenix Beverages Limited in the USA, serves on the board of 21 Capital and the Texas Coinitiative, and also guides various companies as a senior executive. He is also the Honorary Representative in the USA, Board of Investment – Republic of Mauritius. JAMES DUCHENNE Blockchain & Tokenized Business Advisor
James is passionate about what he does and has worked in various fields, from bitcoin and decentralized consensus systems, technology, mineral mining, waste management, property, logistics, marketing, loyalty & engagement products to capital investments.
Adam has a broad spectrum of experience. He is co-founder & partner of Sutton Stone, co-founder of Volt Markets (Boost VC and Plug & Play alumnus), founder of the Houston Bitcoin Meetup, and co-founder of the Houston Ethereum Meetup. Adam has been a CTO, CPO, software project manager, startup advisor/mentor, branding manager, web developer, UX & UI designer, graphic designer, and photographer.
For the past 3 years Adam has been advising blockchain companies on how to achieve success and commercialize their products. ADAM RICHARD Director of Global Blockchain Development
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To k en S ale Str uc ture
08
Token Sale Structure TOKEN NAME ISSUER
LOOT LOOT COVE CO. LTD (GBC1, MAURITIUS) LOOT COVE CO., LLC (WY)
SAFT ENTITY
LOOT COVE CO., LLC (WY)
HOLDING ENTITY
GLN HOLDINGS, INC. (WY)
TOTAL TOKENS SOFT CAP PRIVATE SALE HARD CAP PRIVATE SALE ENDS LOOT FIRST RELEASED ON
600,000,000 LOOT (8 decimal places) US $5,000,000.00 US $41,600,000.00 31 JULY 2018 CST ON OR BEFORE 7 AUGUST 2018
The above mentioned entities may jointly be referred to as “GLN Entities” in this document
Daily Blind Auction AUCTION STARTS DURATION DAILY TOKEN ALLOCATION
00:00 UTC, 1 SEPTEMBER 2018 DAILY PERIODS OF 20 HRS FOR 300 DAYS 300,000 LOOT
Loot Cove Co. LTD and Loot Cove Co. LLC are wholly owned subsidiaries of GLN Holdings, Inc. SAFT contributors will be solely offered to accredited investors (per the Securities Act definition) in the USA. Loot Cove Co. LLC (WY) shall issue LOOT to SAFT contributors.
16
To k en S ale Str uc ture
08
Particulars of Private Sale EQUITY INVESTMENT
SAFT INVESTMENT - US
SAFT INVESTMENT - NON-US Entity: Loot Cove Co., LLC (WY)
Entity: GLN Holdings, Inc. (Parent)
Entity: Loot Cove Co., LLC (WY)
transferrable to Loot Cove Co. LTD (Mauritius) by decision of the board of directors.
Minimum Contribution:
Minimum Contribution:
Minimum Contribution:
US$2,000,000.00
US $25,000.00
US $25,000.00
Price per Loot: $0.12
Price per Loot: $0.12
Equity Purchase: US $2MM for 1% (only sold in increments of 1%) Type: Class C shares (non-voting)
Maximum Tokens Allocated for private SAFT sale: 180,000,000 LOOT.
Maximum Maximum Allocation: Allocation: 10% 10% equity equity
Tokens not sold by 31 August 2018 shall be added to Loot Cove Co. LTD’s
Entitlements: Class C shareholders
(Mauritius) inventory reserves.
shall receive 6,000,000 LOOT for each 1% of equity purchased. Maximum AllocatedFor ForEquity Equity Maximum Token Token Allocated Investors: 60,000,000 LOOT. Investors: 60,000,000 LOOT. Any LOOT not distributed shall be added to Loot Cove Co. LTDs (Mauritius) inventory reserves.
The maximum LOOT allocation in the private sale is 240,000,000. Investors may choose to participate in either the equity investment or the SAFT contribution or both up until all private sale allocated LOOT have been distributed.
Network Marketing and Rewards Game Rewards (commonly termed “Airdrops”). A total of 1,500,000 LOOT is allocated for participants in quizzes, games and other engagement programs. Prior to receiving LOOT, all participants are required to undergo KYC/AML checks. Affiliate program package. The Loot Cove Co. LTD will run an affiliate program from 2 May 2018 up until 1 August 2018. Affiliate members will purchase packages which includes, amongst other benefits, in game credits, game tokens, and reward bids. Affiliates will also receive LOOT based on their status levels as follows. The token bonuses listed in the table below will be based on an Emissary’s qualified badge level on July 31st, 2018.
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To k en S ale Str uc ture
08
Badge Level
Token Bonus
Pixel Wielder
250
Digital Knight
1,500
Archduke
4,000
Tech Baron
10,000
Master Envoy
15,000
Unity Shifter
20,000
Master Envoy
25,000
Conqueror
30,000
Portal Bringer
40,000
World Stomper
50,000
Planet Crafter
75,000
Matter Maker
100,000
Time Bender
250,000
Note: Highlighted dark and light orange rows are packs that can be purchased. Other status levels must be earned.
The total amount of LOOT allocated for affiliates is 50,000,000. Any LOOT not distributed shall be added to Loot Cove Co. LTD’s inventory reserves. All affiliates have to pass KYC/AML checks. Daily Blind Auction 300,000 LOOT tokens for 300 days. In line with the Game Loot engagement programs, a daily blind auction sale will be held for a period of 300 days. Everyday, 300,000 LOOT will be allocated for distribution to purchasers on a pro-rata basis, based on their contribution to the total contributions received in each daily sale period. 18
To k en S ale Str uc ture
08
Badge Level
Token Bonus
Price
Time Period
Daily Blind Auction Period Daily Blind Auction 300,000 LOOT per day.
lasting for 20 hours each day from 00:00 UTC to 20:00 UTC, with a fixed
Market Discovery Through Daily Blind Auction.
Start on 1 September 2018 and runs for 300 consecutive days.
allocation of tokens.
The total allocated LOOT for the blind auction is 90,000,000.
Mechanics of Blind Auction The tokens (A) received by a participant:
A=B*C/D Where, B = Ether contributed by participant in the applicable Daily Blind Auction Period C = The number of tokens allocated for the applicable Daily Blind Auction Period D = The total Ether contributed by all participants during the applicable Daily Blind Auction Period The Daily Market Price (DMP) for each Daily Blind Auction Period is calculated as follows:
DMP = D / C Example: Contribution by a participant in the 100th Daily Blind Auction Period: 30 Ether Total Ether contributed by all participants during the 100th Daily Blind Auction Period: 300 Ether Total LOOT allocated for the 100th Daily Blind Auction Period: 300,000 LOOT The contributor receives 30,000 LOOT (i.e., 30 x [ (300,000 / 300 Ether)] ). The Daily Market Price of the LOOT purchased for Day 100 is 0.001 ETH/LOOT (i.e., 300 ETH / 300,000 LOOT).
Other particulars Total Estimate of Circulating Supply: 381,000,000 LOOT. (Up to 63.5%) Team Allocations (subject to lock up): 69,000,000 LOOT. (11.5%) Inventory Reserves: 150,000,000 LOOTs. (Minimum of 25%)
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To k en S ale Str uc ture
08
Private Sale Distribution The following lock up provisions shall apply: (a) For team allocations, LOOT distributions shall be made on a quarterly basis for each recipient and for a minimum period of 12 months; (b) investors:
Loot Cove Co., LLC (WY) will release LOOT as follows to private sale
Date
Maximum Token Release
Cumulative
On or before 7 August 2018
300,000
300,000
30 September 2018
600,000
900,000
31 October 2018
1,800,000
2,700,000
30 November 2018
3,600,000
6,300,000
31 December 2018
7,200,000
13,500,000
31 January 2019
14,400,000
27,900,000
28 February 2019
28,800,000
56,700,000 + Balance of Tokens Purchased
Example: Joe is a private sale investor and purchases 1MM LOOT. LOOT is released to Joe as follows: On August 7: 300,000 LOOT; On 30 September: 600,000 LOOT and the balance on 31 October 2018.
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To k en S ale Str uc ture
08
8.1 Distribution of Proceeds
Founders, advisors, service providers, bounties
PURPOSE: COMMERCIALIZATION - sales
Operational
- marketing - community building - support Provision for taxation
55
20
%
15
%
%
10
%
Most of the revenue from
Game Loot Network™
We expect the SAFT
A portion of the monies are
the token sale will be
allocates a portion to
contribution monies to be
kept to pay bonuses to the
consumed in operational
tax planning for new
used mostly in marketing,
founders, advisors, service
expenses, service support,
corporate structures,
community building,
providers, and bounty
and development.
employment taxes from
training, development, and
service providers following
overseas personnel and
sales.
the close of the Token
the like.
Sale. These distributions are either going to be in USD, BTC or ETH. GLN may also offer an option to buy tokens following the LOOT Token Sale.
Game Loot Network™ Will: NOT distribute “free” LOOT to founders, advisors, consultants, experts, employees, bug bounty service providers and any other person associated with its business or the LOOT Token Sale (thereafter, “Personnel”). There are no allocations or budgets for this purpose. Personnel will be paid out of the proceeds of the token sale based on the relevant contractual agreement between Game Loot Network™ and the same. 21
To k en S ale Str uc ture
08
8.2 Token Storage and Risks LOOT may be stored in a wallet or vault, which can only be accessed with a password selected by the purchaser. The wallet will hold a private key required to control the stored LOOT. The loss of the private key associated with this digital wallet or vault storing LOOT, will result in the loss of LOOT. Users are advised to store their password in one or more backup locations. Any third party that gains access to the purchaser’s private key may be able to gain access to their LOOT. Users must take care not to respond to any inquiry regarding a purchase of LOOT. The purchase of LOOT should only be undertaken by individuals or entities that have significant experience with the usage and intricacies of cryptographic tokens, like Bitcoin (BTC) and Ether (ETH). Purchaser should have functional understanding of storage and transmission mechanisms associated with other cryptographic tokens. While Game Loot Network™ may be available to assist in the purchase of LOOT during and after the sale, in no way is GLN offering advice and will not be responsible for lost BTC, ETH, LOOT or fiat resulting from actions taken by, or omitted by the Purchaser.
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Co n c lusi o n
09
Conclusion The LOOT token acts as the utile cryptocurrency of a vibrant ecosystem. Its use-cases undergird every aspect of the GLN economy. Gamers will purchase in-game upgrades, developers will fund passion projects, and crypto enthusiasts can hold a token with actual utility. Game Loot Network’s™ vision manifests in more than words on paper; it ventures past an idea on a roadmap. GLN offers a working product, playable games on their platform, and has undergone extensive beta-testing. Now with the introduction of cryptocurrency, LOOT positions to disrupt and forever alter the gaming industry.
23
Glo ssar y o f R elated Ter ms an d D efi n i ti o n s
10
Glossary of Related Terms and Definitions TERM
DEFINITIONS (A) Ecosystem & Structure Definitions
(GLN), GLN Entities, LOOT Cove CO. LLC, LOOT Cove CO.
The parent entities presiding over the production of Game
LTD.
Loot Network™ as well as the LOOT token sale. Economic Definitions A cryptocurrency utility token (based on the ERC20 standard) used to purchase membership for Game Loot Network™. LOOTt represents rewards within the GLN economy and is used for the following: (a) can be redeemed to become a Groundbreaker or Emissary (using LOOT will be 20% cheaper than using
LOOT
USD); (b) can be redeemed for Credits (also at a 20% discount to USD) to access and use in-game activities (for games in the Game Loot Network™ directory); (c) can be used to purchase Bids for Battle Bidding for real world prizes (20% discount to USD); (d) Fuels the Build reward system. (e) can be used in peer-to-peer reward programs
Credits
Units that are used to access games, entries into tournaments and in-game upgrades.
Bids can be purchased to Battle Bid for real world prizes. Bids
These are bought with Credits, USD, or LOOT (20% off USD prices).
Bids purchased for participation in an auction for Premium Bids
batches of LOOT (e.g. 10,000 LOOT). These bids may be purchased with USD, Ether, and Bitcoin.
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Tickets are vouchers earned through gameplay. They can Tickets
be used to redeem prizes or they can be exchanged for Bids.
An auction where gamers can compete against each Battle Bidding
other to win real world prizes in a gaming and competitive environment. Battle Bidding requires the Premium Member to own and use Bids.
LOOT Battle Bidding
As above, but where the prize is an allotment of LOOT.
Automatic bidder available to Premium Members to place Bid Valet
Bids or Premium Bids on their behalf so as to maintain the highest bid up to a maximum amount.
A losing Premium Gamer who places a minimum of 1 bid in Consolation Prize
a Battle Bid or a LOOT Battle Bid will be able to purchase that item at a discount. Discounts may vary based on the real-world prize or LOOT amount and price. (B) User Profile Definitions The term for a combination of all or part of the following:
Users
(a) Wanderers (b) Groundbreakers (c) Emissaries, (d) Game Developers and (e) Curators, (f ) Premium Members.
Users who access Game Loot Network™ and play games Sightseers
for free, but are not eligible to win prizes, earn tickets or earn rewards..
Groundbreakers
Emissaries
Premium Members that subscribe to GLN that ARE eligible to win prizes, earn tickets or earn rewards.
Premium Members who invite friends to GLN in return for commissions (USD or LOOT).
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Developers that develop games for the platform. As Premium Members, they will have access to the Build Game Developers
portal, but will need to pay a de minimus amount of LOOT to post their game features for curation. This is to prevent spam. Within the portal, Developers can list their work for feedback and cryptopooling.
Cryptopooling
Users and developers who pool their LOOT to provide budgets for in-development work in the BUILD gateway
Groundbreakers or Emissaries who provide feedback to Curators
Game Developers. Curators are rewarded in LOOT when other users pay (LOOT) to access and play the games they contributed cryptocurrency to produce. Token Sale Definitions
LOOT Sale
References the Private Sale and Public Sale of LOOT tokens
LOOT sales reserved for qualified investors participating Private Sale
through a SAFT (Simple Agreement For Future Tokens). The Private Sale is capped at the Sales Target Cap.
Sales Target Cap (STC)
The goal in USD (or USD equivalent) for amount of LOOT sold during the public and private periods.
An additional sales target for the sale of LOOT beyond the Sales Target Cap. The Additional Sales Target Cap is Additional Sales Target Cap
effective only where the Sales Target Cap is exceeded to allow the participation of a maximum of Purchasers in the LOOT Sale.
Maximum Sales Target Cap (MST)
Full Priced Token
Token Bonus
The Additional Sales Target Cap added to Sales Target Cap.
The full price of one LOOT stated in USD or USD equivalent.
Bonus (free) tokens given to a LOOT purchaser when a Full Priced Token is purchased.
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