Adventure Gold or AGLD is an Ethereum token that was airdropped to the Loot non-fungible NFT project owners. Loot is a text-based randomized adventure fear that is stored and generated on the Ethereum chain. It serves as a foundation for all games to be built in upcoming years and was initially made by a media network Vine co-founder named Dom Hofmann. The AGLD platform was founded by Will Papper and launched recently on 2nd September 2021. You must know that the AGLD platform can be used for various purposes on the platform, such as issuing game currency for similar games or projects that will eventually get developed in the Loot Project.
About Adventure Gold token
Adventure Gold is expanding rapidly in the Defi marketplace. The protocol of the token is the brainchild of a Stanford University graduate. Initially, 1000 AGLD tokens were airdropped as a reward to the NFT owners to participate in the Loot project. Even Ethereum founder Vitalik Buterin endorsed the AGLD project through a social media shout-out.
Adventure Gold token is like an open-source network in the gaming currency for Loot NFT holders. The AGLD token offers users the chance to vote in favour of critical upgrades or to make changes in the Loot ecosystem. As compared to the other NFT-based gaming projects, Loot NFT does not comprise any service title rather it seeks to provide users with time-release games currencies and digital assets that can be easily integrated into the project. The strategy can save money for developers and provide users with digital assets which will hold more value than single title-based options.
What is the Loot project?
To understand how AGLD works, you must first know about the Loot project. It is an open-source gaming project where protocols integrate into text-based random adventure gear. This protocol can be further integrated into new games with the help of game developers. The ultimate intention behind the Loot project is to standardize the gaming system by offering new games with digital currency options used in the decentralized gaming platform.
The Loot project was initially launched with 8000 unique bag collections of adventure gear. The gear included eight products, each dedicated to a different body part of the adventurers like hand, chest, neck, foot, ring and so on. The bag also had weapons. The Loot development team intentionally hid the scarcity or value characteristics so that users could determine their NFT’s value via integrations and other protocols. The project is free to acquire through the gas. This strategy supports protocol gain momentum since NFT collectors appreciated this approach. It also ensures transparency among collectors.
Uses of Adventure Gold (AGLD)
Although AGLD eliminates various issues in the gaming industry, it additionally offers Loot holders a say in the development of digital currency for the game in future. It helps the Loot community to take part in the ecosystem’s governance in a transparent and secure manner. As a result, the community members can vote or create new protocols using Snapshot. Such consensus ensures that the Loot project is focused on the overall experience of its users.
Assessing the value
One of the interesting uses of AGLD in the Loot project is handling the value assessment part. The developers provide each NFT with a value by using different equations after considering demand and scarcity. Loot owners will be able to value their loots based on the usage and other factors besides creating new games that drive AGLD token value.
If you invest your money in the stock market, probably your voice will never be heard by the company you invest in unless your investment is quite large. Since there are no board meetings or other ways small investors are heard, you remain at the mercy of the companies and their governance style. However, community governance in AGLD is quite different as they listen to the investor’s ideas and forward the same to the developers. The systems not only leverage the consensus power to enable real-time voting but also ensures that every investor’s voice is heard before the community vote.
How does Adventure Gold (AGLD) work?
Currently, the world’s largest Defi and Dapp network is Ethereum in which the AGLD platform is established securely. There are no centralized organizations to censor or prohibit users because the Adventure Gold system is pure code. This means gatekeepers do not exist in the AGLD ecosystem. All the token holders can propose or reject new changes to the system, its development and minting besides other aspects. Such features can be established immediately once the community approves the same. The community chest helps the new projects or develops tools that help in expanding the AGLD community.
What is Loot Dungeon?
A blockchain game called Loot Dungeon uses Loot NFTs. By piling up your loot, you may engage in monster combat. After then, Chain-link Verifiable Random Functions (VRFs), which offer random, on-chain dice rolls, are used to determine the results of the combat. Eventually, each winner receives a piece of AI-produced pixel art. Upon entering a Loot Dungeon, your Loot NFT data is transmitted to the smart centre. You then have a whole day to determine if you wish to combat a monster or run away. Naturally, if you pass away, you forfeit your Loot NFT, however, if you pay a price that does not exceed 0.05 ETH, you can keep it.