Version Number
1.0
Document Type
White Paper
Document Author Offeror
Open Loot Holdings Ltd.
Language
English
TABLE OF CONTENTS
The Date of Notification of this Crypto-Asset White Paper is 2025-10-20.
A. This Crypto-Asset White Paper has not been approved by any Competent Authority in any Member State of the European Union. The Offeror of the Crypto-Asset is solely responsible for the content of this Crypto-Asset White Paper.
B. This Crypto-Asset White Paper complies with Title II of the Regulation (EU) 2923/1114, and to the best of the knowledge of the management body, the information presented in the Crypto-Asset White Paper is fair, clear, and not misleading, and the Crypto-Asset White Paper makes no omission likely to affect its import.
C. The Crypto-Asset White Paper provides that the Crypto-Asset may not always be transferable, or liquid, or lose its value, in part or in full.
D. The Utility Token referred to in this Crypto-Asset White Paper may not be exchangeable against the good or service promised in the Crypto-Asset White Paper, especially in the case of a failure or discontinuation of the Crypto-Asset Project.
E. The Crypto-Asset referred to in this Crypto-Asset White Paper is not covered by the investor compensation schemes under Directive 97/9/EC of the European Parliament and of the Council.
F. The Crypto-Asset referred to in this Crypto-Asset White Paper is not covered by the deposit guarantee schemes under Directive 2014/49/EU of the European Parliament and of the Council.
A. This summary should be read as an introduction to the crypto-asset white paper.
B. The prospective holder should base any decision to purchase this crypto–asset on the content of the crypto-asset white paper as a whole and not on the summary alone.
C. The offer to the public of this crypto-asset does not constitute an offer or solicitation to purchase financial instruments, and any such offer or solicitation can be made only by means of a prospectus or other offer documents pursuant to the applicable national law.
D. This crypto-asset white paper does not constitute a prospectus as referred to in Regulation (EU) 2017/1129 of the European Parliament and of the Council or any other offer document pursuant to Union or national law.
E. Characteristics of the crypto-asset
On the basis of the characteristics, the Tokens will fall within the definition of a Crypto-Asset in MiCA because:
As to the type of Crypto-Asset, they are neither ARTs nor EMTs and, therefore, Other Crypto-Assets.
Further, because they provide access to goods and services in the Marketplace and other benefits granted by the Issuer, the OL token will be a Utility Token.
F. Information about the quality and quantity of goods or services to which the utility tokens give access, and restrictions on the transferability.
$OL is a capped-supply ERC-20 utility token issued by Open Loot Holdings Ltd., for use within the Open Loot marketplace and associated partner games. The token is not sold directly by the Issuer; it can be obtained through:
Holders of OL tokens have the right to:
G. Key information about the offer to the public or admission to trading
The OL token is already in circulation, and no new issuance is planned.
The OL token was not sold directly by the Issuer, and there was no public subscription or fundraising before or at the time of the Token Generating Event (TGE). OL tokens were listed on regulated third-party exchanges at a fully diluted valuation (FDV) of US$50,000,000 at TGE and distributed via platform-managed airdrops, in-game rewards, marketplace activity, and conversion of Open Loot Rewards Program (OLRP) points, as well as through regulated third-party exchanges.
Total token supply: 5,000,000,000 $OL (ERC-20).
Token ticker: OL
TGE Date: 19 November 2024.
Initial circulating supply at TGE: ~3.7% of total supply.
Prospective holders include players of partner games, NFT collectors, marketplace participants, and crypto traders seeking exposure to the Open Loot ecosystem.
OL token is listed across different regulated crypto-asset service providers, and the Issuer intends to seek its admission to trading on future MiCA-compliant trading platforms.
Mitigation Measures Concerning Offer & Issuer-Related Risks
Mitigation Measures Concerning Crypto-Assets-Related Risks
Mitigation Measures Concerning Project Implementation Risks
Mitigation Measures Concerning Technology-Related Risks
Field
Information
Name
Open Loot Holdings Ltd.
Legal Entity Identifier (LEI)
Not available
Legal Form
Private Company Limited by Shares (ISO 20275 code: LTD)
Registered Office
Palm Grove House, Road Town, Tortola, VG1110, British Virgin Islands (VG)
Head Office
The company operates on a fully remote basis. Registered headquarters: Palm Grove House, Road Town, Tortola, VG1110, British Virgin Islands (VG)
Date of Registration
2023-05-09
Legal Entity Number
BVI Company Number 2123556, issued by the BVI Registrar of Corporate Affairs.
Contact Telephone Number
E-Mail Address
Response Time (days)
7 days
Members of the Management Body
Name: Julian Izquierdo
Business address: Palm Grove House, Road Town, Tortola, VG1110,British Virgin Islands (VG)
Function: Director
Business Activity
Open Loot is a Web3 gaming distribution platform and marketplace, providing game studios and publishers with tools for game launches, digital asset custody, crypto and fiat payments, and KYC/AML compliance.
The company's primary revenue streams include transaction fees(5–20%) on primary and secondary NFT sales, NFT rentals, premium currency sales, and payment processing.
The ecosystem serves over 1.5M registered users and offers features such as NFT trading, NFT rentals, non-crypto currency marketplaces, detailed price history, and APIs for in-game integration.
Open Loot operates in major global markets, with a strong presence in Asia, Latin America, and the United States.
Newly Established
No
Financial Condition for the past Three Years
Not applicable. The company has been established for less than three years (incorporated on 9 May 2023).
Financial Condition since Registration
Open Loot Holdings Ltd. was incorporated in May 2023 to continue the development of the platform initially started by its subsidiary, Open Loot LLC. Since its inception, the company has generated total revenue of over US$34M. Initial capital was injected to support forecasted activities and platform growth. Over time, revenue from third-party studio fees has grown, reflecting the expansion of the marketplace and broader adoption of the ecosystem
Key Non-Financial KPIs:
Registered Users: 1,544,474
Marketplace volume: US$557M
Parent Company
OL Ltd -- sole shareholder and parent company of Open Loot Holdings Ltd.
Parent Company Business Activity
OL Ltd., organized under the laws of the Cayman Islands, with a registered office at Trident Trust Company Limited, One Capital Place, George Town, Grand Cayman KY1-1103, Cayman Islands, is the parent and Holding Company of Open Loot Holdings Ltd. (OL token Issuer).
This section shall ONLY be completed if the information is different to that listed in section 1, above.
Field
Information
Is the Issuer different from an offeror or person seeking admission to trading?
No
Name
Not applicable
Legal Entity Identifier (LEI)
Not applicable
Legal Form
Not applicable
Registered Office
Not applicable
Head Office
Not applicable
Date of Registration
Not applicable
Legal Entity Number
Not applicable
Members of the Management Body
Not applicable
Business Activity
Not applicable
Parent Company
Not applicable
Parent Company Business Activity
Not applicable
Field
Information
Other Persons drawing up the Crypto-Asset White Paper
Not applicable
Reason for Crypto-Asset White Paper Preparation
Not applicable
Field
Information
Project Name
Open Loot
Crypto-Assets Name
Open Loot
Abbreviation
OL
Crypto-Asset Project Description
Open Loot (openloot.com) is a Web3 gaming platform and marketplace that enables game developers to launch titles with integrated blockchain features. The ecosystem provides users with non-custodial wallets, NFT trading, reward programs, and fiat/crypto payment solutions. The $OL token serves as the native utility token, used for marketplace fees, rewards, and in-game transactions.
$OL qualifies as a utility token under Article 3.1(9) of Regulation (EU)2023/1114 (MiCA). It is intended solely to provide access to some features within the Open Loot ecosystem. $OL does not constitute an asset-referenced token or an e-money token.
Details of all natural or legal persons involved in the implementation of the Crypto-Asset Project
Core team:
Utility Token Classification
Yes
Key Features of Goods/Services for Utility Token Projects
The $OL utility token is integrated into the Open Loot ecosystem and provides:
Plans for the Token
The Open Loot platform has been continuously operating since its inception, enabling marketplace transactions, NFT rentals, and premium content purchases. The $OL Token Generation Event (TGE) took place in November 2024, followed by listings on major regulated third-party exchanges. The token has been integrated into the ecosystem through VIP tiers, reward programs, and in-game use in Big Time and other partner games.
Looking ahead, planned milestones include enhancements to marketplace functionality and reward programs, and the development of the Open Loot Chain, a dedicated Layer 3 Appchain network built on Base, where $OL will be the native gas token on the chain. OL Chain is intended to support efficient and low-cost transactions for marketplace activity, launch with no transaction fees for users during the initial phase, and operate with security standards comparable to those of Ethereum while maintaining connectivity to the broader Base ecosystem. The chain is planned to introduce gas-sponsorship mechanisms that would allow partner studios to cover user transaction fees, enable cross-game NFT interoperability, and provide comprehensive on-chain transparency so that all trades and in-game actions can be independently verified.
Broader utility for $OL holders is also planned, including additional VIP benefits, potential governance features, and expanded ecosystem incentives as the Open Loot Chain moves forward and ecosystem activity grows.
Resource Allocation
Open Loot initially allocated resources from its capital and generated revenues primarily towards product development and ensuring the platform's smooth operation. A strong focus on technical development in the early stages was essential for building the foundation of the platform. Over time, these efforts have shifted toward improving and optimizing operations, particularly in engineering and payment processing fees. This optimization is evident in several areas of the P&L throughout 2024 and 2025.
Since 2024, there has been an increase in advertising & marketing spending of the platform, reflecting a major push for growth and user acquisition in both 2024 and 2025. Legal expenses have also risen in recent years, primarily to support compliance in different jurisdictions.
Planned Use of Collected Funds or Crypto-Assets
Not applicable
Field
Information
Public Offering or Admission to Trading
'ATTR' - admission to trading
Reasons for Public Offer or Admission to Trade
The admission of $OL to trading on centralized exchanges is intended to ensure liquidity, foster access for users of the Open Loot ecosystem, and support the utility of the token in marketplace and in-game transactions. As no public sale of $OLwas conducted, no funds were raised through this admission.
Fundraising Target
Not applicable.
Minimum Subscription Goals
Not applicable.
Maximum Subscription Goals
Not applicable.
Oversubscription Acceptance
Not applicable.
Oversubscription Allocation
Not applicable.
Issue Price
Not applicable.
Official Currency or Any Other Crypto-Assets determining the Issue Price
Not applicable.
Subscription Fee
Not applicable
Offer Price Determination Method
Not applicable
Total Number of Offered/Traded Crypto-Assets
5,000,000,000
Targeted Holders
'ALL' - all types of investors
Holder Restrictions
There are no restrictions on the type of investors eligible to hold $OL. However, access to the Open Loot platform and withdrawal of tokens are subject to KYC/AML requirements. In addition, restrictions apply to residents of jurisdictions listed in the Terms of Use as sanctioned or high-risk, including but not limited to Afghanistan, Central African Republic, Democratic Republic of the Congo, Cuba, Guinea-Bissau, Iran, Iraq, North Korea, Libya, Mali, Russia, Somalia, South Sudan, Sudan, Syria, Ukraine, Venezuela, Yemen, Belarus, and Myanmar.
Reimbursement Notice
Not applicable
Refund Mechanism
Not applicable
Refund Timeline
Not applicable
Offer Phases
Not applicable
Early Purchase Discount
Not applicable
Time-Limited Offer
Not applicable
Subscription Period, beginning
Not applicable
Subscription Period, end
Not applicable
Safeguarding Arrangement for Offered Funds/Crypto-Assets
Not applicable
Payment Methods for Crypto-Asset Purchase
Not applicable
Value Transfer Methods for Reimbursement
Not applicable
Right of Withdrawal
Not applicable
Transfer of Purchased Crypto-Assets
Not applicable
Transfer Time Schedule
Not applicable
Purchaser's Technical Requirements
Not applicable
Crypto-Asset Service Provider (CASP) name
Not applicable
CASP identifier
Not applicable
Placement Form
Not applicable
Trading Platforms Name
$OL is supported by major global regulated digital asset services providers, such as Bybit, OKX, Gate.io, MEXC, among others.
Trading Platforms Market Identifier Code (MIC)
Not applicable
Trading Platforms Access
Token holders can access $OL trading by creating an account with the centralized exchanges where it is listed (Bybit, OKX, Gate.io, MEXC). Access requires registration, KYC/AML verification, and compliance with each exchange's jurisdictional restrictions. Once verified, users can deposit funds and trade $OL pairs such as $OL/USDT
Involved Costs
While accessing the trading platforms may not involve any costs, trading on centralized exchanges may involve standard trading fees (a certain % per trade), withdrawal fees for transferring tokens to external wallets, and applicable blockchain network gas fees (Ethereum, Base, or BNB). Deposits in crypto are typically free of charge, while fiat deposits and withdrawals may incur additional charges depending on the exchange and payment method.
Offer Expenses
Not applicable
Conflicts of Interest
No conflict of interest has been identified as of today.
Applicable Law
The Issuer, Open Loot Holdings Ltd., is governed by the British Virgin Islands Business Companies Act.
Competent Court
Eastern Caribbean Supreme Court, Commercial Division (British Virgin Islands)
Field
Information
Crypto-Asset Type
Utility token
Crypto-Asset Functionality
$OL is a fungible utility token used within the Open Loot ecosystem. Holders can use $OL to purchase digital assets (such as NFTs) in the Open Loot Marketplace, receive benefits and rewards within supported games (including Big Time), and pay for certain platform-related services.
Planned Application of Functionalities
The core functionalities of $OL—payments in the Open Loot Marketplace, in-game benefits in supported titles such as Big Time, and transferability across exchanges and wallets—have been available since the Token Generation Event in 2023. Additional features are planned as part of the ongoing technical roadmap, including the launch of the Open Loot Chain, a dedicated Layer 3 network built on Base. OL Chain is envisioned to support efficient and low-cost transactions for marketplace and in-game activities, and to introduce gas-sponsorship mechanisms that allow partner studios to cover user transaction fees. It is also intended to enable cross-game NFT interoperability and provide full on-chain transparency, so that all marketplace trades and in-game actions can be independently verified as the ecosystem develops.
Type of White Paper
OTHR
Type of Submission
NEWT - New
Crypto-Asset Characteristics
$OL is a fungible ERC-20 utility token deployed on the Ethereum network and bridged to Base (an Ethereum Layer 2). It is divisible up to 18 decimal places, with a fixed total supply of 5 billion tokens. $OL does not represent ownership, voting, or profit-sharing rights. Its sole function is to provide utility within the Open Loot ecosystem, including purchases in the Open Loot Marketplace, in-game benefits within supported titles (such as Big Time), and platform rewards. The token is freely transferable between compatible wallets and tradable on supported centralized exchanges.
Commercial Name or Trading Name
Open Loot
Website of the Issuer
Starting Date of Offer to the Public or Admission to Trading
2024-11-19 (initial admission to trading on CEXs).
Publication Date
2024-11-19
Any Other Services Provided by the Issuer
Not applicable
Identifier of Operator of the Trading Platform
Not applicable
Language/s of the White Paper
EN -- English
Digital Token Identifier Code used to uniquely identify the Crypto-Asset
Not available. For identification purposes, the token can be referenced by its Ethereum mainnet contract address: 0x1F57da732A77636D913C9a75d685B26CC85DCC3A
Functionally Fungible Group Digital Token Identifier
Not available (no ISO 24165 Functionally Fungible Group Digital Token Identifier has been assigned as of the date of this whitepaper).
Voluntary Data Flag
voluntary
Personal Data Flag
No
LEI Eligibility
Not applicable
Home Member State
Ireland
Host Member States
All other EU Member States and all 3 EEA member states under the MiCA passporting regime.
Field
Information
Purchaser Rights and Obligations
Holders of $OL may:
$OL does not grant ownership, profit, dividend, or voting rights against the Issuer or its affiliates.
Holders must comply with KYC/AML, platform Terms of Use, geographic restrictions, and bear network gas fees or withdrawal deductions.
Exercise of Rights and Obligations
Rights attached to $OL are exercised by:
Conditions for Modifications of Rights and Obligations
The rights and obligations attached to $OL may be modified through updates to the Open Loot Terms of Use or related program terms (e.g., Rewards or Media Programs). Open Loot reserves the right to amend these terms at its sole discretion. Users are responsible for reviewing updates, and continued use of the Services constitutes acceptance of such modifications
Future Public Offers
Not applicable
Issuer Retained Crypto-Assets
Team-controlled wallets:
Utility Token Classification
Yes
Key Features of Goods/Services of Utility Tokens
$OL grants access to services within the Open Loot ecosystem, including:
These services are available to all verified users of the platform, subject to eligibility and geographic restrictions
Utility Tokens Redemption
$OL does not grant any redemption right vis-à-vis the issuer and cannot be redeemed for fiat currency or other tokens.
$OL holders may:
Holders may withdraw $OL from their Open Loot account to an external wallet, after which the token is freely transferable and tradeable on secondary markets.
Non-Trading Request
‘True’ -sought
Crypto-Assets Purchase or Sale Modalities
Not applicable
Crypto-Assets Transfer Restrictions
$OL tokens are freely transferable outside of the Open Loot platform. To interact within the Open Loot Marketplace, they maybe subject to:
Supply Adjustment Protocols
'False' - No
Supply Adjustments Mechanisms
Not applicable. $OL has a fixed supply of 5,000,000,000 tokens, and no mechanisms exist to increase or decrease supply in response to demand.
Token Value Protection Schemes
'False' -- No
Token Value Protection Schemes Description
Not applicable.
Compensation Schemes
'false' -- No
Compensation Schemes Description
Not applicable.
Applicable Law
British Virgin Islands law (BVI). (Issuer: Open Loot Holdings Ltd., a BVI company.)
Competent Court
The competent courts of the British Virgin Islands.
Field
Information
Distributed Ledger Technology
$OL is an ERC-20 token deployed on the Ethereum blockchain (mainnet). It may also be bridged to the Base Mainnet and BNB Smart Chain, in order to foster scalability and broader ecosystem access. Tokens bridged to these networks can be transferred back to Ethereum through the same bridging mechanisms, ensuring that the total supply remains fully backed and consistent across all supported networks.
Protocols and Technical Standards
$OL follows the ERC-20 standard on the Ethereum mainnet, fully compatible with the Ethereum Virtual Machine (EVM). When bridged to Base, it remains ERC-20 compatible, and on BNB Smart Chain, it takes the BEP-20 form, which is functionally equivalent due to BSC's EVM compatibility.
Technology Used
The $OL token is issued as an ERC-20 asset on the Ethereum mainnet, with optional bridging to the Base network and the BNB Smart Chain. On Base, $OL remains ERC-20 compatible, while on BNB Smart Chain, it takes the BEP-20 form, which is functionally equivalent due to the network's EVM compatibility. Tokens can beheld and transferred through Open Loot's non-custodial wallets, which are automatically provisioned for each user account and supported by Alchemy's wallet infrastructure. Transfers may incur standard network gas fees and, in certain cases, developer withdrawal deductions when moving tokens from the platform to an external wallet.
Consensus Mechanism
$OL relies on the consensus mechanisms of the blockchains on which it operates. On Ethereum, this is Proof-of-Stake (PoS). When bridged to Base, $OL ultimately depends on Ethereum's PoS security model, since Base is an L2 that inherits Ethereum's consensus. On BNB Smart Chain, $OL relies on the Proof-of-Staked-Authority (PoSA) consensus used by that network.
Incentive Mechanisms and Applicable Fees
There are no additional incentive mechanisms at the token level. Transaction security depends on the Ethereum, Base, and BNB networks. Fees include standard blockchain gas fees, marketplace fees (5% for NFT trades, 20% for rentals, 5% for premium currency trades), and possible developer withdrawal deductions.
Use of Distributed Ledger Technology
'False' -- No, DLT not operated by the Issuer or a third-party acting on the Issuer's behalf
DLT Functionality Description
Not applicable. The Issuer does not operate its own distributed ledger technology. $OL relies on public blockchains (Ethereum, Base, and BNB) for issuance and transfers.
Audit of the Technology Used
Yes
Audit Outcome
Link here.
Field
Information
Adverse Impacts on Climate and Other Environment-Related Adverse Impacts
$OL operates on the Ethereum, Base, and BNB Smart Chain networks. On Ethereum, and consequently on Base (as it inherits Ethereum's security model), the consensus mechanism is Proof-of-Stake (PoS). On BNB Smart Chain, the network uses Proof-of-Staked-Authority (PoSA), a variant of PoS with a limited validator set.
Compared to Proof-of-Work (PoW) systems, these consensus mechanisms significantly reduce energy consumption and the overall environmental footprint. The use of PoS and PoSA means that no energy-intensive mining activities are required for the issuance, transfer, or settlement of $OL.
The environmental impact of $OL is therefore limited to that of the underlying Ethereum, Base, and BNB infrastructures. No additional or unique environmental impacts arise from the design, issuance, or operation of $OL beyond those already associated with these networks.
Term
Definition
Consensus Mechanism
Shall mean the rules and procedures by which an agreement is reached, among the DLT network nodes, that a transaction is validated.
Crypto-Asset
Shall mean a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology.
Distributed Ledger Technology or DLT
Shall mean the technology that enables the operation and use of distributed ledgers.
Home Member State
Shall mean either (a) where the offeror or person seeking admission to trading of crypto-assets other than asset-referenced tokens or e-money tokens has its registered office in the Union, the Member State where that offeror or person has its registered office; or (b) where the offeror or person seeking admission to trading of crypto-assets other than asset-referenced tokens or e-money tokens has no registered office in the Union but does have one or more branches in the Union, the Member State chosen by that offeror or person from among the Member States where it has branches; or (c) where the offeror or person seeking admission to trading of crypto-assets other than asset-referenced tokens or e-money tokens is established in a third country and has no branch in the Union, either the Member State where the crypto-assets are intended to be offered to the public for the first time or, at the choice of the offeror or person seeking admission to trading, the Member State where the first application for admission to trading of those crypto-assets is made; or (d) in the case of an Issuer of asset-referenced tokens, the Member State where the Issuer of asset-referenced tokens has its registered office; or (e) in the case of an Issuer of e-money tokens, the Member State where the Issuer of e-money tokens is authorised as a credit institution under Directive2013/36/EU or as an electronic money institution under Directive2009/110/EC; or (f) in the case of crypto-asset service providers, the Member State where the crypto-asset service provider has its registered office.
Host Member State
Shall mean the Member State where an Offeror or Person Seeking Admission to Trading has made an offer to the Public of Crypto-Assets or is seeking admission to trading, or where a Crypto-Asset Service Provider provides crypto-asset services, where different from the Home Member State.
Issuer
Shall mean a natural or legal person, or other undertaking, who issues crypto-assets.
Management Body
Shall mean the body or bodies of an Issuer, Offeror, Person Seeking Admission to Trading, or of a Crypto-Asset Service Provider, which are appointed in accordance with National Law, which are empowered to set the entity's strategy, objectives and overall direction, and which oversee and monitor management decision-making in the entity and include the persons who effectively direct the business of the entity.
Offer to the Public
Shall mean a communication to persons in any form, and by any means, presenting sufficient information on the terms of the offer and the crypto-assets to be offered so as to enable prospective holders to decide whether to purchase those crypto-assets.
Offeror
Shall mean a natural or legal person, or other undertaking, or the Issuer, who offers crypto-assets to the public.
Operator
Shall mean the entity that runs a trading platform for crypto-assets.
Qualified Investors
Shall mean persons or entities that are listed in Section I, points (1) to(4), of Annex II to Directive 2014/65/EU.
Retail Investor/Holder
Shall means any natural person who is acting for purposes which are outside that person's trade, business, craft or profession.
Utility Token
Shall mean a type of crypto-asset that is only intended to provide access to a good or a service supplied by its Issuer.