ICO Analysis: Game Loot Network
Published on July 13, 2018
By Joshua LarsonVerdictGame Loot says they will be a one-stop shop for all of gaming; play, purchase and design. They are asking for a lot of money, $41 million just from private investors. For this type of money, one would expect a way better sales pitch. The whitepaper is not detailed, and the team seems incapable of accomplishing their goals.
Actually, there is a very strong possibility this entire project is a scam, and the founders of Bithead, PlayBrains, BrainCloud and GameL oot are now doing an ICO. Not to produce what they promise, but to get filthy rich off sloppy investors.
Risks Private Sale Hard Cap: US $41,600,000.00. This is confirmed real. -1
Private sale contributors have to be accredited investors and receive a 200% bonus. -1
Their partnerships aren’t real partnerships. They are mostly past businesses founded by the same team as Game Loot.-2
LOOT tokens not sold in the private and public sale will be divided equally among each of the 300 days for the daily blind auction. -1
CEO Doug Kinney is not being honest with his employment history. -1
They claim to have done extensive platform beta testing that yielded more than $5 million in revenue over just 7 months. However, they seem to be lying. When asked to provide evidence of this as well as other claims they made in the one pager. We were blocked from their Telegram, and our questions deleted as if we had never even been there. -1
A Google search “Gamelootnetwork is a scam” returned plenty of damning evidence. This guy Ethan provides a very detailed investigation and concludes this is indeed a scam. -4
https://ethanvanderbuilt.com/2018/01/31/game-loot-network-scam-yes-opinion/Growth Potential They plan on “accommodating infinite expansion” into VR and everything that comes with it.+2
Their roadmap is long and detailed, extends all the way into 2021. It seems like empty promises, but if by some miracle, this project is real, it will be pretty cool. +2
DispositionStay away from this one.
-5/10 (that’s right,
negative 5).
Investment Details Platform: Ethereum.
Symbol: LOOT
Total Supply: 600,000,000 (600m)
Price: $0.35
Soft Cap: $5 million
Hard Cap: private presale= $41.6m . total cap: TBD
Private Sale: Accredited Investors only, apply here. (ends 31 July 2018 ) Phase 1
200% Bonus (Buy 1, Get 2 Free)
Crowd Sale: Begins September 1, 2018
Proof: https://hacked.com/ico-analysis-game-loot-network/