021, a consumer-focused venture studio, has announced the strategic acquisition of Looty, a Web3 loyalty and rewards platform, just nine months after its inception.
Launched in February 2024, Looty quickly became a key player on the Avalanche network, offering brands across various consumer-facing industries the ability to engage and reward their communities through gamified experiences. Looty’s platform empowers brands, from festivals integrating on-chain ticketing to decentralized applications looking to set themselves apart with unique user incentives.
We are excited to announce that Looty has been acquired by @021_WTF!– New team – New platform – New smart contracts – Fresh rebrand – Exciting new features Let's dive into it pic.twitter.com/6ocztm1vBR
— Looty (@looty_fi) October 14, 2024
021 has been deeply involved in the success of various digital brands, including Pudgy Penguins, where it facilitated IP licensing, production, and distribution deals, resulting in over 1.5 million toys sold by end of 2023. The venture studio collaborates with Amazon as a preferred partner in their High-Value Emerging Brands division, where they incubate and take brands to market. By acquiring Looty, 021 aims to leverage its expertise and network of partners to help scale Looty’s solutions and expand its mission to a broader audience.
This month marks our 1st anniversary.We’ve dedicated the past year to laying the foundations for 021.Our focus was building a framework to support companies across every growth stage, achieved through our first 2 pillars: Moonshot and 223.Here’s how pic.twitter.com/yROHXuJj6O
— 021 (@021_WTF) March 26, 2024
“The acquisition of Looty enhances our ability to provide engagement and gamified experiences to brands within our portfolio, our broader partner network, and the greater web3 ecosystem,” said Nigel Van Broekhoven, CEO of 021. “We identified synergies between Looty’s business model and our strategic vision early on, and this acquisition aligns with our ongoing initiatives with Avalanche.”
Looty will continue to play a pivotal role in advancing on-chain loyalty solutions alongside Avalanche. In addition, 021 is already working on new features, has overhauled Looty’s smart contracts, and is working on multiple new deals from leading gaming titles to large car manufacturers.021 is a venture studio working with outliers to produce consumer brands and technologies with a strong track record in partnering with startups, L1/L2 blockchains, and Fortune 500 enterprises. The venture studio also produces spinout ventures, co-builds with serial entrepreneurs, and acquires promising up-and-coming startups.
Looty is the premier loyalty and rewards platform that brings fun and rewarding experiences to the Avalanche ecosystem. Launched in February 2024, Looty makes it simple and engaging for brands, big or small, to reward their communities through dynamic, gamified experiences. Looty’s platform is designed to be adaptable and attractive to both Web2 and Web3 brands, offering various rewards ranging from NFTs and tokenized tickets to real-world assets like luxury watches and cars. As a cornerstone of the Avalanche ecosystem, Looty collaborates with leading partners like Avalanche, Inspect, and others to drive innovation in digital loyalty.
