What Is Adventure Gold (AGLD)?
Adventure Gold (AGLD) is the native token of Loot, which is an NFT-based project. AGLD tokens were built using the ERC-20 token standard. If you want to see the current AGLD price, take a look at the Adventure Gold price chart above.
The Loot project was developed by Dom Hofmann. He is also the co-founder of Vine (a social media network). Loot is a randomly-generated adventure gear collection. It contains 8,000 text-based NFTs that are open to whatever interpretation the community chooses. Thus, the project has no images, front-end interface, or functionality.
Primarily, Adventure Gold serves as the governance token of the Loot project. It allows holders to vote on various decisions considering the future development of the project. Though the contractual permissions are executed by a group that is in control of a multi-sig wallet. The group consists of Will Pepper (the founder) and a few other members who chose to keep their identities hidden.
When the Adventure Gold tokens were launched, owners of the 8,000 initial Loot NFTs were able to get 10,000 free AGLD tokens. This way, each Loot owner was able to claim tokens that were worth around $70,000, since the AGLD price escalated really quickly in the beginning.
The Story of Adventure Gold
Adventure Gold crypto asset was launched in 2021 by Will Papper. By offering a currency for the crypto-based gaming world, he hoped to establish a baseline for initiatives building on Loot.
Papper wrote most of the code for Adventure Gold while waiting for a plane at an airport in Oregon. He was encouraged by Vitalik Buterin’s tweet, which endorsed Papper’s project.
Will Papper has a degree in computer science and philosophy. He also co-founded such projects as Bear Studios, MediMeld, Librarian AI, and the Syndicate Protocol.
Tokenomics of Adventure Gold
The initial total supply of Adventure Gold coins was 75.3 million. As mentioned before, owners of the Loot NFTs each received 10,000 AGLD tokens during an airdrop. The remainder of the supply was released to the open crypto market.
If you plan to purchase Adventure Gold coins, make sure to analyze the AGLD price chart above. Since the AGLD price is quite volatile, it would be useful to look at the major patterns in its price fluctuations before making any purchase decisions.