Loot is a text-based NFT of game assets that anyone can build on. Loot is an NFT project based on ERC721 standard launched on The Ethereum chain on August 27th. The project can randomly generate 8 adventurer gear with a scarcity distribution, recorded in pure text form on the chain. Unlike traditional NFT virtual assets, Loot does not host any multimedia content such as pictures, but only simple text. With the openness of NFT, anyone can build on it, which is what the Loot project encourages. In a matter of days, it briefly topped OpenSea's list of top grossing items, making it one of the most expensive collectibles of all time. Loot brings about the paradigm change of virtual economy, from having virtual content before virtual assets and identity to having virtual assets and identity before virtual content. In traditional games, the game company will first develop the content of the game experience, and then have the virtual assets such as the equipment in the game, which is a mode of content before assets. Loot changes that completely by releasing an asset that anyone can build a virtual content experience around. Loot holders can participate in any project, and assets exist independently of the project. Loot realizes the decentralized definition of NFT. The original virtual assets, their interpretation right is often in the project side, such as the value of equipment, and the NFT interpretation right of Loot belongs to anyone, anyone can create Loot without threshold. Loot has been online for only half a month and has spawned more than 50 projects, most of which are very early and repetitive. Since Loot went live, the community has spawned a number of ecological projects, bringing a variety of usage scenarios to what was once a simple LootNFT. After sorting out the official website, we found that the projects allocating new virtual assets NFT (such as weapons, attributes, pets, etc.) to Loot holders occupy the mainstream, followed by data tools projects, while the projects adding experience, especially audio, video, pictures and other multimedia content are very rare. Most projects are simple contract deployments with a social media account for promotion and no official website or art content. However, it should also be considered that Loot has only been online for half a month, and more time is needed to create richer content. Loot patterns already show some limitations. First, how to realize the commercial value of virtual content creators: in the whole virtual economy, the creation of content is a costly and time-consuming link, in Loot mode, how to realize their commercial value is still to be explored, there is no mature business model. Second, the problem of Loot consensus: After the success of Loot, there are a large number of Loot copy projects, using the same mechanism and the same operation mode, which will lead to the diversion of Loot ecology. The development of Loot is very uncertain and whether it can change the mainstream virtual economy paradigm remains to be seen.