lute

Another mispelling of the word loot, commonly used by online gamers to describe the artifacts/items they found via a quest or defeating monsters.

Rexxar- Dood! I just got some phat lute from that quest!!!
Legolass- O RLY?
Rexxar- Yeah! I just found a Hammer of Sundering and Bracers of Infinite Strength!
Legolass- ZOMG THAT IS SWEET LUTE!!!

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phat loot

A term used by online gamers to describe a really helpful or stat-boosting set of items found by completing a quest, opening a container of some type, or by taking the loot from a dead monster.

Nesk- *holds up the shield* Look at this! +9 Strength!!
Rexxar- Omg!!! That's some phat loot!

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