Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

What is Loot and Why is Everyone Talking About Loot NFTs and AGLT?

Published 07/09/2021, 16:05
Updated 14/07/2021, 15:35

Loot was launched by American entrepreneur and programmer Dom Hofmann, who created a system where NFT collectors can spend money to create loot bags of unique items, with just 8,000 loot bags to ever be made.

Visually, the NFTs are represented as nothing more than a list of items, with “stats, images, and other functionality intentionally omitted for others to interpret,” according to the project’s website.
Despite not having any artwork or real game tied to it, a market began to form around its scarcity and prices quickly soared. In one case, a user is even selling a “Divine Robe of Power” for 300 ETH, which is equivalent to more than $1 million USD!

Following last week’s release of NFT project “Loot (for Adventurers),” a host of related projects have sprung up as part of an ever-expanding fantasy “Loot-verse”. One derivative that has stolen the limelight is the Adventure Gold token (AGLD). Created by Ethereum veteran Will Papper, Adventure Gold is an ERC-20 token representing gold coins, a common currency in fantasy role-playing settings.

Like Loot, AGLD is an open book, with the community deciding how the tokens should be used. Adventure Gold was distributed via an airdrop, with all Loot NFT holders receiving 10,000 AGLD, creating a current max supply of 80 million tokens.

Since its launch, the price for AGLD has gone parabolic. In the past 24 hours, the token has risen over 1600%, reaching a peak of $7.29 Friday morning before cooling off. Anyone lucky enough to receive a bag of AGLD could have sold it for $70,000, almost as much as the Loot NFTs currently cost. The total market capitalisation for AGLD currently stands at over $500 million.

Latest comments

Txs👍🏻
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.