Adventure Gold is one of the fastest-growing cryptocurrencies right now. The token bridges several hot themes, including blockchain gaming, community governance and non-fungible tokens (NFTs). This special blend of attributes is helping the AGLD crypto to appreciate significantly in only a short period of time. Not to mention, the project also carries a fair bit of mystique with it.
As investors continue to flow into the booming NFT space, Adventure Gold is an interesting token that is benefitting.
The project, with its minimalist NFTs, ambiguous token and barebones roadmap, may not initially appear convincing to investors. However, the presentation of the AGLD crypto and its accompanying Loot NFTs have made it strangely successful. This week has brought another major rally for AGLD for the first time since fall 2021.
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What Is the AGLD Crypto and What Are Loot NFTs?
Adventure Gold is the token underlying Vine co-founder Dom Hoffmann’s ambitious NFT project, called Loot. Will Papper, a Loot community member, then developed Adventure Gold. Launched in September, neither AGLD nor Loot are very old at all. The NFT collection was released by Papper for free in an edition of 10,000 tokens. These tokens are all nearly identical in appearance — they include a solid black background, populated with only a few strings of words and phrases.
These words and phrases made up computer-generated items for a video game which doesn’t exist. Everything is entirely up to the holders’ interpretations. Outside of the NFT launch and the launch of AGLD, Papper has largely been hands-off with the project. Almost immediately after launching, the AGLD crypto was picked up by a series of exchanges, like Coinbase (NASDAQ:COIN). These listings helped the token to boom in September. In fact, it set an all-time high above $7.
As for the gains today, there are no real news catalysts to speak of. AGLD prices have actually been on the decline for the last three months. One can surely assume recent gains have something to do with new interest in NFTs and blockchain gaming. Indeed, OpenSea reveals that even with declining AGLD prices, Loot NFTs are selling for tens of thousands of dollars. With AGLD crypto prices up 20% over the last 24 hours, trading volume is up 200% to nearly $300 million.
9 Things you need to know:
- Before touching on what the Adventure Gold (AGLD) crypto is, we must first look at Loot NFTs. Loot saw its launch in August through a developer named Dom Hofmann.
- These NFTs are pictures of text rows. Each row contains the name of an item in an adventuring game which doesn’t exist yet.
- The NFTs represent items for the game, which the NFT owners will own upon its release. Hofmann released the NFTs without any imagery or stats for these items in order to leave their meaning open to interpretation.
- The Loot NFTs are available for free in a run of 8,000 tokens. Investors are snatching them up very quickly with little marketing outside of Hofmann’s announcement of their existence.
- Since its first release, the Loot community is growing rapidly and creating hype around the yet-to-be-created game. A multitude of sites measuring the rarity of certain items is already popping up.
- Adventure Gold is the token meant to fuel the incoming Loot game. As of yet, it has no dedicated developers, and its inherent utility is not fully known.
- What we do know is that Loot NFT owners were granted 10,000 ALGD for each NFT they possess. At its current going-rate of $3.81, this turned a free NFT purchase into a $38,100 profit.
- The Adventure Gold (AGLD) crypto is now also getting to boost of a Coinbase Pro listing to add to its bullish momentum. The exchange is announcing its intent to list AGLD this morning through a blog post.
- Investors can load their existing AGLD holdings onto their Coinbase Pro accounts starting today. If the crypto meets liquidity conditions, it will launch for trading tomorrow afternoon.