You might have noticed we recently rebranded the token into Esportbits. It’s time to talk a bit about that. We’ve been hard at work delivering the products and making plans for company development when the Davos WEF came about.

This meant a great opportunity to get the highest profile people from various brands inside one room. Imagine one place where Bill Gates, Bill Tai, basically all the people who made crypto big or invested in it along C-level executives of the largest companies come together for a week to talk about the next year in business. We could just not pass this up. We haven’t slept much the month of January making arrangements. And we’re proud to say we managed to pull off the first ever event on Esports and it as a future of entertainment. You can find a short summary video here:

It was a great success and visiting Davos was truly a transformative experience. Our founders go to talk to a lot of people within and outside both esports and crypto. We’ve learned a great deal about what people expect from our product and others like it. It became extremely clear to us that staying on course to what we’ve originally set out to achieve will take going to diversifying Hyperloot further to provide various directions with separate solutions like Lootmart. We had a lot of feedback on our hands and one of the major points was that our brand is too broad for adoption. Many of you, who are out there with your own business or product will understand. And the tokens are not anymore exclusive to the main Hyperloot products, but the Lootmart products and the partner network we are building, so it needs to be more general and precise at the same time.

On another note, while we developed our set of products on Ethereum. We stated that this choice was made due to the availability of infrastructure. While that remains true, transaction costs continue to grow. To deliver on promises of true zero-transaction network we will need to deploy our own blockchain at some point in the future. Our token is also mineable, so to promote this we are looking into CPU-based mining with our new partners (partially met at the WEF, but that’s another story).
At the same time, we needed to show our customers, partners and future investors that we thoroughly understand the nature and business objectives of the token.

And that’s where Esportbits comes in.

Our main focus right now are esports titles and actors. We want our token and brand to be a reflection of it. There’s a lot going on this market, and bits are representing the items we are going to trade within our stack of product. We felt that bits are a good name since we are not going to be trading exclusively in-game items, and some of them might be separated into multiple bits for game design or product purposes. Esports is obviously the best business opportunity out there, so the naming comes together quite easily. We can’t change everything at the same time and for now the token ticker will remain the same. The price, erxchanges listed and price also remain the same. Token is now represented on a separate website with a new name:

There might be a few changes to the token design down the road, but for now all things remain the same. The token aims and features you can find in our FAQ remain the same. Our team sees a big future for Hyperloot, Lootmart and Esportbits. There’s a number of partnerships we are working on and we’ve recently entered a second exchange with plans to join CoinMarketCap soon. If you have any questions, we are always open to answer them at our discord channel here:

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