1. What is Lootfeed?
Lootfeed is a new financial application that helps gamers save money while playing video games.
2. Why should I care?
Lootfeed helps gamers:
- Who have a hard time saving money.
- Who are interested in saving for a goal – this can help: https://lootfeed.com/lootfeed_calculator.html
- Who feel unproductive or guilty when playing video games
- Who are or could be suffering from gaming addiction.
3. How do I sign up for Lootfeed?
You can sign up at our website, Lootfeed.com. Once there, please indicate what gaming platforms you own. Our current beta is currently open for Xbox, with more platforms to come shortly. If you indicate you have an Xbox we will send you an invitation.
Please note that you will need to disable your Xbox 2-factor authentication to properly use the Lootfeed Beta. To disable, please follow these steps: https://support.xbox.com/en-US/my-account/security/turn-off-two-step-verification
4. How does this work? I have to sign into my gaming account and my bank account? Am I paying myself to game?
Lootfeed requires both a bank account and an Xbox account. Yes, you are paying yourself. One way to think of this is you are in an arcade instead of giving your money away for each game you play, you are instead reinvesting in yourself.
This video explains the signup process: https://www.youtube.com/watch?v=GPoS2uVGHK4
- Enter your name, email address and create a password to use to access your Lootfeed account
- Enter your Xbox account and Bank account info
For your Xbox account please turn off your 2 factor. We are working on changing this.
- Choose between 25 cents to $2 for every hour you play on your Xbox
- Agree to the $1 subscription and 1% transaction fee
- We withdraw the money out of your account in $5 increments and place it into a savings account.
- Your dashboard is displayed. Your money can be accessed anytime and the dashboard shows your progress, gameplay history and how much you have saved.
5. How does the company make money? Are you taking a cut when transfers are made?
We are a $1 a month subscription service. There is a small transfer fee of 1% of the $5 deposited. It comes out to be 5 cents for every 5 dollars deposited.
Who is the team behind Lootfeed?
Developer | Link