Riding on the excitement surrounding the launch of Loot, maybe one of many strangest NFT collections so far, a brand new token generally known as Adventure Gold (AGLD) – with no present use circumstances – has been listed by main crypto exchanges like FTX and OKEx.
Designed as a sport token for future Loot-related video games, the Adventure Gold token was airdropped to Loot NFT holders, with every Loot NFT giving the proprietor the best to say 10,000 AGLD. And with a token worth at press time (14:52 UTC) of USD 2.95, the airdrop was price not less than a good-looking USD 29.5k for every holder.
AGLD worth chart
The story behind the token launch began with the discharge of a brand new NFT assortment dubbed “Loot: (for Adventurers),” kicked off as a aspect challenge by Dom Hofmann, a former web entrepreneur, in late August.
Made up of simply traces with plain textual content describing the fictional “adventurer gear” of a sport that doesn’t but exist, the NFTs got away without cost to group members who have been fast sufficient to reap the benefits of the supply.
A complete of two,400 totally different accounts managed to get their palms on one of many unique Loot NFTs earlier than your complete assortment was claimed, with these NFTs now reselling for costs ranging from ETH 14.98 (USD 56,156), successfully creating an NFT airdrop price greater than USD 50,000 for a fortunate few.
And regardless of no web site at first, no advertising efforts, and no different info than the easy tweet above, the NFT challenge rapidly went viral, with different builders leaping on the bandwagon to create associated NFT collections:
Out of those associated initiatives got here additionally the Adventure Gold token, which is already altering palms for near USD 100m per day on Uniswap alone, and has a market capitalization of USD 229.5m, rating it 258 on the record of essentially the most beneficial cryptoassets lower than every week after it got here into existence.
Even extra mind-boggling, maybe, is the truth that the token has no improvement staff and no present use circumstances, provided that no Loot sport thus far exists. Instead, it was purely an concept by creator Dom Hofmann, which a rising group got here collectively to embrace.
And with the entire pleasure surrounding the launch, some group members have even likened the Loot challenge with Yearn.finance (YFI), an Ethereum-based DeFi challenge that was launched by a single particular person, and later grew quickly though in an natural method.
To this comparability, nonetheless, Kyle Samani, managing associate of crypto funding agency Multicoin Capital, stated that the 2 shouldn’t be equated, provided that yield aggregators like Yearn are “mounted pie video games,” whereas “Loot is optimistic sum.”
Since the creation of the NFTs and the following AGLD tokens, much more consideration has been generated in regards to the challenge, with now high-profile figures like Ethereum co-founder Vitalik Buterin additionally showing to endorse the best way the challenge has moved ahead:
“I believe the @lootproject philosophy has it proper: just about something that anybody creates “exists”, what issues is to what extent different individuals construct upon it,” Buterin said.
In both case, what the Loot challenge and associated efforts finally end up to turn into is anyone’s guess at this level.
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Learn extra:
– Blockchain Gaming ‘May be Key to Mass Adoption’, Outpacing DeFi, NFTs
– Top NFT Trading Strategies by Arthur Hayes
– When You Buy an NFT, You Don’t Completely Own It – Here’s Why
– 12-year-old NFT Whizz Rakes in USD 400K in Ethereum – and Wants to HODL it
