On Monday, cryptocurrency exchange, Coinbase, announced plans to list the Adventure Gold (AGLD) crypto token on Coinbase Pro later this week.

Coinbase is the third major exchange to list the AGLD token which is less than a month old and has:

• No current use cases,
• No playable game, and
• No official development team,

 The company's listing comes on the heels of similar listings by FTX and OKex.

And if you're thinking, dang, that was quick! I thought the same thing too. Besides, y'all know that I am all ears at the sound of gold. So I went out and did a little digging, and uncovered one of the strangest yet, arguably, most exciting beginnings of an adventure in the metaverse.

So, I've brought in a trunk. Let's unpack it together.

What is Adventure Gold?

Adventure Gold is an Ethereum game token built as part of the Loot Project ecosystem and airdropped to owners of Loot Project NFTs at the beginning of September.

Loot is a project started near the end of August by Vine co-founder Dom Hofmann, which generated randomized adventure gear stored on-chain to serve as the foundation for games built in the future.

By the same token, AGLD, created in early September by Will Papper,  a co-founder of the decentralized investing platform, Syndicate,  is intended for use as an in-game currency for similar games and projects built on top of the Loot Project.

Code written in 4 Hours

And if your head is spinning with all this, the creator of the token says his is too!

According to an article by CoinDesk, Papper initially wrote and launched the open-source, composable code just for fun, writing the majority of it in four hours while at a small Oregon airport. 

"To say that I didn’t expect this would be a significant understatement. I’m just a community member like anyone else,”

-Papper reportedly told CoinDesk

The AGLD is designed to function as an in governance token, giving users the opportunity to vote on future in game credits or future mints that build on top of the Loot Project and adopt AGLD.

Now, if this isn't speculation, y'all tell me what is. 

The Loot Project

Simple Lines of Plain Text > USD50,000

Originally, Dom Hofmann's Loot NFTs, which comprised lines of plain text describing fictional adventurer gear for a game that did not exist, were given away for free to community members.

Following Hofmann's announcement, there was a stampede, of course, and the loot was quickly picked up by 2,400 different accounts, some of whom later resold their NFTs for well in excess of USD 56,000. 

The Loot Project has been growing organically ever since.

Even attracting the attention and seeming endorsement of Ethereum co-founder, Vitalik Buterin.

And AAVE founder Stani Kulechov.

And guys, if you're thinking, man, this is huge, where was I? Know that I'm thinking the same thing too. 

Almost overnight, there was a storm of related projects, moving from lists of text to illustrations of those items to worlds for those items to reside in and characters to wield them. And, inevitably,  AGLD, the currency for them to spend.

Generous AGLD Airdrop

Loot NFT holders sure hit the jackpot. As part of its launch, AGLD tokens were airdropped to these NFT holders. Each holder received 10,000 AGLD. And for some quick math, with AGLD currently averaging around  USD4, this means Loot NFT holders each received a gift of an average worth of USD40,000 by the current price.

I'm punching the air, guys. I swear I am.

And the evolution continues...

The Adventure Gold token is currently ranked among the top 200 crypto assets, with a market capitalization of USD 331,315,086.

So, to adopt a phrase from @redefined_life on Twitter, we are literally in front row seats looking on at "NFT improv".

The Dawn of a New Age or a Flash in a Pan?

Recent developments would have certainly been a shot in the arm for NFT speculators as some believe the evolving Loot Project marks the beginning of an open-source fantasy metaverse.

I'd give you my take. I think that however it turns out, this adrenaline  injected into the metaverse, this evolution, is definitely exciting. I hope that it fuels innovation that is sustainable in the long term.

In my previous post, Aliens with Sticky Fingers: Welp, my WAXP is stuck I expressed dissatisfaction with the quality of some existing blockchain games. It might be that the winds of change are already blowing. If this is the beginning of something bigger and better, then I'm all for it. 

But what do you think, guys? I'd love to hear your thoughts.

Do you think these events signal the dawn of a new age or is this craze creating a bubble that will inevitably become unsustainable?

If you're excited to see how the Loot Project evolves, this might be a good time to bag some AGLD. Trading just above 4USD, it's already up almost 1,500% since its launch.

Please note, however, that this is NOT investment advice. Should you ever decide to invest in an asset, please do so only after you have conducted your own extensive, independent research.

The same applies to NFTs. Before you go off and invest in all text NFTs in the future, hoping for a huge payout like Loot, please remember to conduct thorough research. I'm sitting on the sidelines at the moment cheering you on, but it would be remiss of me not to simultaneously advise you to proceed with caution.

Find me also on Read.Cash

Oh, by the way, did I mention that I'm on read.cash?

I posted my first piece there yesterday, though I'm thinking I might write different stuff there, see how adoption goes.

In the meantime, here's a link to my profile: Trifecta. I'd love it if you'd drop in and say hi.

Okay, guys, that's it for me. 

Off to survey new horizons in the crypto-verse. Until next time, everyone, be safe! Arriverderci!