AGLD is an Ethereum-based token that was airdropped to owners of the Loot Project, a popular non-fungible token (NFT) collection. The primary purpose of AGLD is to facilitate secure and seamless transactions within the Loot ecosystem, allowing users to buy, sell, and trade virtual goods, items, and services.
Loot is a text-based adventure game where players interact with various gear, including weapons, armor, and accessories. By utilizing blockchain technology, the AGLD token provides a decentralized and transparent environment that benefits players and game developers. The token was launched on Aug. 27, 2021, with Loot NFT holders receiving 10,000 AGLD tokens as a reward.
The token's name and the ticker symbol is AGLD, an ERC-20 token on the Ethereum blockchain. The token was initially distributed to Loot NFT holders for free, with each bag holder claiming 10,000 AGLD tokens. AGLD developer Will Papper aimed for it to be used by the community however it wishes, ranging from voting on governance decisions to new mints for projects that build on top of Loot and adopt AGLD.
AGLD tokenomics and use cases
Adventure Gold has a total supply and circulating supply of 70,170,00 AGLD. AGLD serves various use cases within the Adventure Gold ecosystem. It is primarily used for in-game purchases on the Loot platform, enabling players to acquire virtual items and participate in the play-to-earn (P2E) model. Additionally, AGLD is utilized for trading and collecting Loot NFTs, providing opportunities for users to engage in the thriving NFT market. AGLD holders also enjoy exclusive access to content and events, while developers receive royalties through the token.
About the founders
AGLD was founded by Will Papper, a Stanford alumnus and the co-founder of Syndicate DAO. In an interview, Papper mentioned that most of the code was written in four hours at a small airport in Oregon. He was inspired after Vitalik Buterin, the creator of Ethereum, endorsed the Loot (for Adventurers) project. On the other hand, the Loot project was released by Dominic Hoffman, the co-founder of Vine and creator of Peach and Byte.
