Should I Hold my AGLD Token?

93% Gains, The Loot NFT Ecosystem, and Why AGLD Might Be Worth Holding Onto

I bought some AGLD last year and now price is pumping. I figured it’s time to do some research, learn about the project, and see if I should hold these tokens or take my profits.

I’ll share what I found out below.

Here is a screenshot of my 93% gains:

AGLD is just one of the Toplist 44 Active Trades in my Copy Trade Profile on Bitget.

Here is the current AGLD/USDT chart:

I held this small trade for a long time as a loss without paying any attention to it.

Now that it is breaking out, I’m starting to plan for the exit… am I feeling these common trading emotions?

Why Is It More Comfortable to Hold Going Down Then It Is to Sell Going Up

Here is more research about the project.

Adventure Gold (AGLD) is an ERC-20 token associated with the Loot NFT project, launched in September 2021 by Will Papper, co-founder of the Syndicate Protocol13. The Loot project, created by Vine co-founder Dom Hofmann, is a unique Ethereum-based NFT initiative that serves as the foundation for a community-created game currently in development1.

Tokenomics

• Total Supply: 77,310,001 AGLD1
• Circulating Supply: 77,310,000 AGLD1
• Max Supply: 80,000,001 AGLD1

The token was initially distributed to Loot NFT owners, with each holder eligible to claim 10,000 AGLD for free1. This airdrop became incredibly valuable, worth up to $70,000 per NFT in the early days of trading4.

Revenue Model

AGLD’s primary utility is as a governance token and potential in-game currency within the Loot ecosystem1. While the project doesn’t have a traditional revenue model, its value is derived from:

1. Governance rights in the Loot project
2. Potential use as an in-game currency in future Loot-based games
3. Speculative value based on the project’s adoption and growth

Market Position

Adventure Gold has carved out a unique niche in the decentralized gaming and NFT space:

• It’s closely tied to the Loot project, which consists of 8,000 Loot Bags containing randomly generated text-based items1.
• The project’s minimalist design and open-ended nature have sparked significant interest within the NFT community1.
• AGLD is positioned at the forefront of innovation in decentralized gaming and NFT utilization2.

Growth Potential

The growth potential for AGLD is closely tied to the development and success of the Loot project:

1. Ecosystem Development: AGLD has become the ecosystem, governance, and gas token for Adventure Layer, a Layer 2 solution customized for Fully Onchain Games (FOCG)4.
2. Community-Driven Innovation: The open-ended nature of the Loot project allows for community-led development and expansion2.
3. Integration with Web3: AGLD’s simplicity and integration with the Loot project make it a pivotal part of the evolving Web3 community2.

Investors could potentially generate returns from AGLD through:

• Governance participation: Voting on crucial upgrades and changes to the Loot ecosystem3.
• Speculative value appreciation: As the Loot project and its ecosystem grow, AGLD’s value may increase2.
• Future in-game utility: If AGLD becomes widely used in Loot-based games, its demand and value could rise1.

However, it’s important to note that AGLD’s success is heavily dependent on the Loot project’s development and adoption. The community-led nature of the project, while innovative, also presents risks in terms of direction and sustained growth.

What is LOOT?

Loot is a unique and innovative NFT project launched on August 27, 2021, by Dom Hofmann, co-founder of Vine15. It consists of 8,000 unique NFTs called “Loot bags,” each containing a list of eight randomly generated text-based items representing adventurer gear, such as weapons, armor, and accessories47.

Key Features

• Text-based NFTs: Loot NFTs are displayed as white text on a black background, intentionally omitting images and stats4.
• Community-driven: The project is entirely open-ended, allowing the community to interpret and build upon the foundation19.
• Free minting: Initially, 7,777 Loot bags were available for anyone to claim by paying only Ethereum gas fees57.

Ecosystem Development

The Loot project has sparked significant community engagement and innovation:

1. Derivatives: Over 80 derivative projects have emerged, expanding the Loot universe4.
2. Adventure Gold (AGLD): An ERC-20 token launched by Will Papper, serving as a governance token and potential in-game currency34.
3. More Loot: An expansion allowing for the minting of additional Loot bags, with a dynamic supply increasing at a tenth of Ethereum’s block rate7.

Market Impact

Loot has had a significant impact on the NFT space:

• Within five days of launch, Loot NFTs were resold for $46 million, reaching a market cap of $180 million2.
• The project has been compared to Bored Ape Yacht Club in terms of influence, creating a new market for text-based NFTs4.

Community and Development

The Loot project exemplifies a decentralized, community-driven approach to NFT development:

• Multiple Loot communities, developer tools, and guilds have formed around the project4.
• The open-ended nature allows for diverse interpretations and applications, from games to expanded universes19.

Loot represents a paradigm shift in the NFT space, emphasizing community-driven development and open-ended creativity over traditional project structures59.

In the end, I think I’ll hold my AGLD and see what might come!