Adventure Gold trading began on September 3, 2021. The token was quickly listed by several big exchanges thanks to its extraordinary popularity and reached an all-time high of $7.63 on its first day of trading, after an almost vertical price explosion.

Adventure Gold is an [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) token on [Ethereum](https://coinmarketcap.com/currencies/ethereum/). The token does not provide a security audit, but it is governed by a multisig consisting of its founder and several other still-anonymous wallets. [Ethereum](https://coinmarketcap.com/currencies/ethereum/) is one of the most popular blockchains and the go-to solution for many decentralized applications and open source projects like Loot and Adventure Gold. ERC-20 is the token standard followed by almost all tokens on the Ethereum blockchain. It is secured by a proof-of-work consensus mechanism that requires miners to mine new Ether. A set of decentralized nodes validates transactions and secures the Ethereum blockchain.

Adventure Gold has a total supply of 75.3 million AGLD. Each of the 8,000 initial Loot NFTs received 10,000 AGLD as airdrop, with the remaining supply being released on the open market. Currently, exchanges like [Huobi](https://coinmarketcap.com/exchanges/huobi-global/) and [Uniswap V3](https://coinmarketcap.com/currencies/uniswap/) are the biggest holders of AGLD.

Adventure Gold follows the approach the underlying Loot NFT game has hoped for, by the community building on top of Loot as a form of endorsement. While the simplicity and uniqueness of Loot itself inspired the Web3 community to come up with numerous derivatives projects based on its code, Adventure Gold itself aims to be used as a governance token and have users vote on future in-game credits or future mints building on top of Loot and adopting AGLD.

Adventure Gold was founded by Will Papper, who is also the co-founder of Syndicate DAO, a decentralized investing protocol. Papper is a graduate of Stanford University and a crypto-native, having owned Ethereum since the 2014 pre-sale. He created Adventure Gold as a reaction to [Vitalik Buterin](https://coinmarketcap.com/alexandria/glossary/vitalik-buterin) endorsing the project and encouraging others to build upon it. Papper launched AGLD one day after Buterin’s endorsement on Twitter, by writing the majority of the code in four hours at a small airport in Oregon. As of Sept. 6, 2021, Adventure Gold has no official development team beyond Papper.

[Adventure Gold](https://coinmarketcap.com/currencies/adventure-gold/) (AGLD) is the native [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) token of the [Loot](https://www.lootproject.com/) [non-fungible token](https://coinmarketcap.com/alexandria/glossary/non-fungible-token) (NFT) project. Loot is a text-based, randomized adventure gear generated and stored on-chain, created by social media network Vine co-founder Dom Hofmann. The project intentionally has no front-end interface, images, statistics or functionality. Instead, it is based on a set of 8,000 text-based NFTs open to how the community wants to interpret it. The NFTs contain texts of gears ranging from the “Holy Greaves of Giants” to the “Grim Shout.” As of Sept. 8, 2021, the floor price of Loot on OpenSea is 8.56 ETH. Numerous derivative projects are being built around Loot and can be found [here](https://www.lootproject.com/resources). Adventure Gold was launched on Sept. 2, 2021, and allowed each owner of a Loot NFT to claim 10,000 tokens for free. With the price of AGLD skyrocketing in the initial days of trading, this airdrop was worth as much as $70,000 per NFT. AGLD founder Will Papper claimed he wanted to set a standard for projects building on Loot by providing a currency for the decentralized gaming universe.