There are plenty of speculative investments within the crypto and NFT house. However maybe none are fairly as speculative as Journey Gold crypto (AGLD). This Ethereum-based token started its life being airdropped to house owners of Loot Challenge NFTs. And whereas many already dismiss NFTs as a bizarre pattern that can cross, these NFTs are a bit weirder than most.

However first off, let’s clarify what we imply by referring to this as “speculative.” We’re not suggesting this can be a crypto rip-off or a rug pull. The parents behind it are well-known. Will Papper outed himself because the creator of Journey Gold crypto when it launched in September of 2021. And for what it’s value, this token additionally handed the Coinbase check. It started buying and selling on this widespread trade shortly after the launch.

However earlier than we dig any deeper into Journey Gold crypto, we have now to elucidate the NFT mission it acts as a governance token for…

The Loot Challenge has a really open-ended mission. Group members of it could actually construct video games. They’ll create avatars or write novels on it. Or as said on its web site, “The Loot mission is the unfiltered and uncensorable constructing blocks of tales, experiences and video games which can be community-driven.”

It has no consumer interface so far. So it’s not your typical NFT gaming operation. As a substitute, it’s a assortment of distinctive luggage of text-based NFTs. These luggage of texts comprise phrases like necklace, titanium ring, heavy belt, chain mail and the like. These make up the so-called “journey gear” of the platform. From there, it’s as much as house owners to do what they need with them.

Extra About What Journey Gold Crypto Is Powering

The Loot Challenge is clearly totally different than most different sources of NFTs. If we spent extra time taking part in Dungeons & Dragons as a child, it’d most likely make a bit of extra sense to us. However to be honest, they make no less than as a lot sense as shelling out $69 million for a (subjectively) ugly JPEG… Or spending $2.8 million on a Bored Ape.

Now, these journey gear NFTs on Loot don’t include any stats. And pictures and performance are deliberately absent. This leaves it as much as the parents utilizing them (for no matter that could be) to find out their usefulness. And these NFTs will be picked up on both the Loot Alternate or OpenSea.

The open-for-interpretation use of those is their asset. It’s functionally obscure with a view to convey out the creativity of its customers. And for what it’s value, it earned an enormous thumbs up from Ethereum founder Vitalik Buterin:

Now that you’ve got a barely higher understanding of the Loot Challenge, let’s get again to Journey Gold crypto (AGLD)…

The Future Is (As soon as Once more) Imprecise

Journey Gold crypto is the governance token for the Loot Challenge. Holders of it are granted the power to vote on storylines. And this token may probably be used for added in-game credit sooner or later. It may be used to assist construct extra initiatives on Loot Challenge. However that final half continues to be up within the air as of proper now.

The token was initially distributed to Loot NFT house owners freed from cost. However past the storyline governance holders have, it doesn’t have another makes use of. Nevertheless, Journey Gold crypto may develop into the in-game forex that can finally be constructed on Loot Challenge.

Moreover, Loot NFT house owners got the power to say as a lot as 10,000 AGLD tokens without cost – aside from paying Ethereum fuel charges. So an excellent quantity of oldsters obtained them for subsequent to nothing.

However, the whole provide of Journey Gold crypto is just 70.2 million tokens. So if this game-in-the-making does handle to take off, its worth may rise rapidly. Additionally, it’s value noting that the founding father of the Loot Challenge is Vine co-founder Dom Hoffmann. So he’s somebody that is aware of a factor or two about creating developments. However whether or not this one really captures the creativeness of the youth of at present continues to be open for debate.

The Backside Line on Journey Gold Crypto

The way forward for Journey Gold crypto is anybody’s guess. Nevertheless, primarily based on the truth that main exchanges like FTX and Coinbase determined so as to add it to their exchanges nearly instantly, it comes with some important standing.

Moreover, because it was added to those main exchanges, AGLD is up greater than 200%. And take note, this was throughout a time when the crypto markets had been largely in retreat mode.

Additionally value noting, regardless of clawing again a few of its worth up to now couple of weeks, AGLD continues to be greater than 80% off its all-time excessive. So there’s loads of room for enchancment. And if Loot Challenge manages to welcome a bevy of latest customers anytime quickly, Journey Gold crypto may rapidly regain its high-water mark… If for no different motive as a result of it’s nonetheless a tiny crypto by way of market cap.

So once more, Journey Gold crypto most likely isn’t an amazing match for everybody’s portfolio. However for these with some {dollars} there’re seeking to gamble, AGLD is value contemplating. And for any crypto followers which have a penchant for fantasy gaming, it may be value your funding. Nevertheless, till a extra outlined use case comes with it, Journey Gold crypto will stay a really speculative token. Albeit, one with some promise for certain.