A Brief Guide Explaining the Concept of Aavegotchi & GHST Tokens 

Recently, the surge in non-fungible tokens (NFTs) and play-to-earn mechanisms has been changing the gaming world. By using blockchain technology, NFTs and other in-game assets can be transferred and owned by the players, providing people with a secondary income source. Aavegotchi, a unique play-to-earn (P2E) game has merged entertainment with the concepts of NFTs and crypto. 

What is Aavegotchi?

Aavegotchi is a P2E NFT farming multiple-multiplayer-online RPG game built on Ethereum blockchain technology, Polygon. It is a breeding ghosts game where the pixelated cartoon ghosts, called Gotchis or Aavegotchis, serve as the non-fungible tokens (NFTs) that can be staked and built on the ERC-721 standard.  

Although Aavegotchi has a similar concept to another famous pet game, Tamagotchi, it is the first online game that has merged the potential of NFTs and the decentralized finance (DeFi) ecosystem. It was launched in March 2022 by Pixelcraft Studios and runs on the Aave protocol. 

In the Gotchiverse realm, Aavegotchis are the game’s digital pets or avatars. Each Aavegotchi is a digital collectible that exhibits a rarity score based on several unique attributes. For example, traits (e.g., eye color and shape, aggressiveness, brain size, spookiness, and energy), digital wearables attached to the avatar, kinship score (based on the frequency of player/Aavegotchi interactions), and spiritual force.

GHST is the native currency of the Aavegotchi ecosystem. It serves as a utility within the game meaning GHST tokens can be used to buy and sell assets including Gotchi avatars, Aavegotchi portals, wearables, consumables, and Gotchiverse lands. Also, GHST token holders are rewarded voting power in the project’s decentralized autonomous organization (DAO). 

How does Aavegotchi work? 

To become a part of the Aavegotchi gaming community, users must create a Metamask wallet and have a public Ethereum address. For using the Aavegotchi app, users are required to buy cryptocurrencies such as ETH or Polygon (MATIC) and then bridge the two blockchains using a cross-bridge function. 

• Purchasing GHST tokens from an exchange platform (Kraken) is the first step a user needs to accomplish to get an Aavegotchi ghost. With these GHST tokens, players can summon an individual Aavegotchi (NFT), or a whole portal containing ten Gotchis can be purchased from which only one avatar can be chosen. 

• While summoning a brand new Aavegotchi, users can stake a minimum amount of aTokens, i.e., Aave-powered tokens (ERC-20 tokens). 

• The amount of aTokens staked represents the Spirit Force of an Aavegotchi NFT and its value rises with a corresponding rise in the number of aTokens. Through Aave’s lending protocol, an interest generates on these staked tokens that ultimately increase the number of tokens over time. 

• Players can stake their GHST tokens to unlock REALM, the land parcels in the Gotchiverse to show their commitment and protect the gaming environment from malicious practices.

• Upgrading and enhancing the attributes of the purchased avatars is yet another method through which players can earn more yields in the Gotchiverse. A player can rent their avatar to another player to earn a percentage of their earnings without doing any complicated work on the Gotchiverse. 

• Players can explore different game modes in the Aavegotchi ecosystem to earn GHST tokens. One such example is Rarity Farming, a game mode where players get rewarded in GHST tokens based on the rarity, loyalty, and experience of the Aavegotchi avatars. 

Conclusion 

By conjoining the unique approaches of the NFT ecosystem and DeFi, Aavegotchi has set itself apart from the crowd of other P2E games. It enables the players to create and manage their own Gotchi NFTs which they can employ to enjoy the game while also earning rewards and interest on them in the form of GHST tokens. As the project will grow and introduce additional functionalities to the gameplay, it is plausible that it will bring exciting changes to the gaming industry.  

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing

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