Contrary to popular belief, the concept of a bitcoin faucet still exists. Creating a new spin on this tried and tested business model is not all that easy.
Running a bitcoin faucet is anything but straightforward in this industry.
For many, they either suffer from low payouts or heavily rely on advertising income to make something happen.
In the case of Lootbits, the concept has been changed significantly.
Rather than utilizing an existing model, it tries to incorporate loot boxes into its bitcoin faucet offering.
When users register, they receive free credits.
It takes 35 credits to open a loot box that might contain some decent amounts of bitcoin.
No one should expect to become rich from this platform by any means.
Money to fund the bitcoin faucet has to come from somewhere, after all.
It is a bit unclear how this platform makes any money.
Since users cannot buy gems to open more boxes through Lootbits, there doesn’t appear to be any revenue stream whatsoever.
The platform is still in beta, however, thus everything is subject to change in the months to come.
It is interesting to see bitcoin faucets get a second lease on life.
To attract more people in this industry, ventures like these can go a very long way.
BlockDAG Flies High with 4100 Home Miners Sold! AGIX Token Unlock Causes Frenzy! Jasmycoin Witnessing…
There have been a series of success stories about cryptocurrency making new millionaires. We’ve heard…
The current bull run is still in the early stages, and the pace of inflows…
Following the negative news of criminal charges against KuCoin by the US Government, a significant…
In a month marked by significant value spikes across various altcoins in the cryptocurrency space,…
The bull market is well underway, and the frothiness around Solana and Polkadot is leading…