Aavegotchi is a game originally built on the Polygon blockchain. It is essentially a breeding ghosts NFT game. These ghosts are pixelated NFTs built on the ERC 721 standard. An ERC is an Ethereum Request for Comment – a standard token format designed for smart contracts. Each ERC standard serves a purpose that is aligned with the smart contract. For example, an ERC-20 token is fungible- meaning it can be swapped in lieu for another ERC-20, while ERC 721 is non fungible as each non fungible token has different rarity metrics.
The native token GHST serves as a governance token as well as a utility token for in-app NFT purchases and entry to the Gotchiverse – the metaverse of Aavegotchi. The project is backed by Aave – the leading decentralized exchange on the Ethereum network.
Aave invested in Pixelcraft Studios in 2021 to build the metaverse gaming platform. Originally the plan was to launch the game on Ethereum but owing to high transaction fees (gas fee on Ethereum) the game was launched on Polygon network in March 2021.
|Launch Date||March, 2021|
|Blockchain Protocol||Proof of Stake|
|Circulating Supply||45,096,312 GHST|
The platform was co-founded by a pseudonymous individual called ‘Coder Dan’ and Jesse Johnson also known as gldnXross. Johnson is also the COO of Pixelcraft Studios. He was also responsible for developing the first NFT backed by gold. He comes with heaps of experience in business development and international market development at firms like China Intop Exhibition Co and ZB Group. Aave’s founder Stani Kulechov was the first advisor of the project.
Each Aavegotchi NFT holds a smart contract with the spirit force (trait details of the NFT) and spirit force increases and generates yields over the course of time. Once a user has connected their crypto wallet to the portal of Aavegotchi- 10 Aavegotchi NFTs appear out of which a user needs to choose 1, while the other 9 will be burnt and gone forever. The rarity of these NFTs will be determined by Chainlink VRF – a web3 data solution.
To claim an Aavegotchi, a user needs to stake the minimum amount of spirit force in order to play in the Gotchiverse. The minimum amount of spirit force for NFTs remains the same throughout its lifetime. There is no upper cap limit on the spirit force but if the minimum amount of spirit tokens slip below the threshold then the NFT will be taken back and will be removed from the supply by burning.
Gotchiverse: Aavegotchi brought the first NFT play-to-earn game on Polygon blockchain. The platform rewarded active players with GHST by introducing rarity Farming. In the Gotchiverse, players get into battle games with their NFTs that act as avatars which can be further upgraded. The platform was the first to do a fair launch of the game tokens. At the time of its launch, the project deployed 4 ERC-20 tokens under ‘Gotchus Alchemica’
The four tokens include: FUD, FOMO, ALPHA, and KEK.
Gotchilending: The play to earn game also included DefI in its realm. Unlike other NFT staking platforms, Gotchilending allows users to safely lend their NFTs to other players on a P2P network, which means there’s minimal risk involved and no middle men to operate the process. Rewards earned by the borrower will be split between the NFT owner and the borrower.
AavegotchiDAO: To maintain uniformity and fairness, Aavegotchi also has its own DAO for community governance. GHST token holders get a right to vote in or against any proposal laid for the project.
|Aavegotchi Price Today||₹90.70|
|Price Change <Yearly>||NA|
|Market Rank (as per CMC)||382|
|Fully Diluted Market Cap||₹4,396,014,937|
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