LAKE LOTAWANA, MISSOURI — Game Loot Network Holdings is planning to use blockchain technology to create an alternative gaming market and player reward system.<br /><br />According to Digital Trends, GLN has raised $2.5 million in presales, but will hold an initial coin offering on May 29. <br /><br />The company said during a test run, they saw $5 million in transactions and had 65,000 users. <br />The gaming company will use blockchain to handle transactions and its cryptocurrency, known as Loot, as part of its reward system. <br />GLN will also offer a platform called Build to let independent game developers submit game ideas, story concepts and demos, which will also allow gamers to support developers using the Loot digital currency. <br /><br />GLN hopes that by using blockchain, it will help in competing with more established players in the PC and mobile-gaming market, like Steam and Apple.
