This New Crypto Asset Is Soaring After Earning Surprise Support From Coinbase

A new altcoin that launched early this month is surging after receiving surprise support from Coinbase.

Adventure Gold (AGLD), which is the native crypto asset of the open-source Loot Project, is now live on Coinbase Pro.

The project has released “Loot Bag” non-fungible tokens (NFTs) that are essentially text files containing eight phrases, such as “Short Sword,” “Plated Belt,” and “Titanium Ring.”

Source: Loot Project/Coinbase

These phrases are designed to become virtual “building blocks” for a yet-to-be-released video game, and anyone with a Loot bag can claim 10,000 AGLD which will also become an in-game currency.

Coinbase says,

“Adventure Gold is an Ethereum [ETH] token that was airdropped to owners of Loot Project NFTs. Loot is a project that generated randomized adventure gear stored on-chain that can serve as the foundation for games built in the future.

AGLD can potentially be used as an in-game currency for similar games and projects eventually built on top of the Loot Project.”

The price of the crypto asset was around $2.91 just before the Coinbase announcement, which catapulted the altcoin to as high as $4.29, according to CoinGecko.

The AGLD listing is the latest in a spate of altcoins added to the Coinbase platform in recent weeks.

CEO Brian Armstrong said this summer that the exchange was hustling to list as many altcoins as possible.

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Featured Image: Shutterstock/Tithi Luadthong

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