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Highlights
- AGLD is linked to NFT project Loot, which is said to have thousands of NFT collectibles
- The Adventure Gold token is a relatively newer cryptocurrency, and it doesn’t rank in the top 100 assets
- The AGLD token value might depend largely on the success or failure of the Loot NFT project
The rise and fall in the value of crypto assets is unpredictable. All major cryptos including Bitcoin and Ether were reeling from losses in the wake of Russia’s invasion of Ukraine, but over the past 24 hours, things have changed drastically.
According to CoinMarketCap, the aggregate market cap of all cryptos tracked by it has once again gone above US$1.7 trillion, with Bitcoin and most other high market cryptos trading in green at the moment. One crypto asset, Adventure Gold (AGLD) has gained nearly 50 per cent over the past 24 hours.
What does Adventure Gold cryptocurrency do?
AGLD is said to be the token of a non-fungible token (NFT) project titled ‘Loot’. Loot claims to house 8,000 bags, which are in the form of NFTs.
The project does not shine enough light on these bags, but the background story of any particular bag, the project claims, may be discovered after it is collected. The project’s website also has a mention of ‘More Loot’ or mLoot bags, besides character NFTs, which are linked to a specific bag. Loot NFTs are listed on the OpenSea NFT exchange.
Also read: Decentraland, Axie Infinity & The Sandbox: Top 3 metaverse cryptos
AGLD crypto
According to CoinMarketCap, the Adventure Gold (AGLD) crypto will serve as the governance token of the Loot NFT game. What governance tokens usually do is they allow users of a project to vote on multiple issues to decide how the platform functions.
It is also stated that the initial tokens of AGLD were given out without any cost to the holders of Loot NFTs. Each owner is said to have been allocated 10,000 AGLD tokens. Multiple exchanges including Coinbase Pro and KuCoin have listed the AGLD token.
Also read: What are CryptoPunk NFTs & which ones sold for the highest prices?
AGLD crypto’s price
AGLD does not rank in the top cryptocurrencies by market cap. It had a market cap of nearly US$87 million as of writing, and the price per token was approximately US$1.2. The trading volume was up over the past 24 hours and so was the price of the AGLD token.
AGLD crypto price prediction
In light of the ongoing volatility in cryptocurrencies’ prices, predicting the price of the AGLD token in the near term is very difficult. Though many experts warned of a sharper dip in the prices of crypto assets after Russia’s invasion of Ukraine, many cryptos have now rebounded.
Also read: What is My Neighbor Alice game & its crypto’s price prediction?
In the medium-term, AGLD’s price may benefit if the Loot NFT project makes noise. NFTs are popular, and Beeple’s and CryptoPunk’s NFTs have sold at very high prices.
If Loot NFTs become a major trend in the sector, the AGLD token may reach US$6 by the end of the first half of 2022. A negative sentiment, however, may also cause a decline in price, especially when riskier assets seem to be under immense pressure.
Data provided by CoinMarketCap.com
Also read: Russia-Ukraine war: Possible impact on cryptos & can BTC prove utility?
Adventure Gold Rallies: What Is LOOT’s AGLD Crypto?
Bottom line
The AGLD token is said to be linked with the Loot NFT project. As of now, it is rising in value, however, for a sustained rally, the NFTs of Loot will have to show immense promise in the already-crowded market.
