About Aavegotchi

Aavegotchi is a new form of crypto-collectibles built on the Ethereum blockchain. These virtual companions are Non-Fungible Tokens (NFTs) powered by the GHST token and the Aave lending platform. Aavegotchi aims to demonstrate a new category of digital assets with real utility while delivering an enjoyable user experience.

What is GHST?

GHST is an ERC-20 governance token that is used to interact with the Aavegotchi ecosystem. Holding GHST tokens gives users voting rights in the AavegotchiDAO and staking GHST earns yields. The total supply of GHST is capped at 50 billion tokens. These tokens serve as both governance tools and incentives to participate in the Aavegotchi metaverse.

History of Aavegotchi (GHST)

Aavegotchi was created by Pixelcraft Studios and launched in September 2020 after a successful crowd sale. The project was founded by Jesse Johnson, a prominent figure in the NFT space. The goal was to merge DeFi incentives with NFTs and gaming. Aavegotchis were designed to be more than just collectibles – they would have dynamic purpose and utility.

How Aavegotchi Works

Each Aavegotchi is a unique ERC-721 token representing a virtual spirit connected directly to a smart contract. This contract stores the Aavegotchi’s traits, levels, experience points, and staked value. The more GHST tokens bonded to an Aavegotchi, the higher its rarity score. Players can boost their Aavegotchis by playing mini-games and earning rewards.

Playing Aavegotchi Games

Aavegotchis can be used in various mini games where experience points and rewards can be earned. These games include Gotchiverse, Aavegotchi Realm, and Brick by Brick. Players must feed their Aavegotchis to keep them alive. The games connect back to the Ethereum blockchain integrating real economic incentives. This gamified DeFi adds an engaging layer on top of earning yields.

The AavegotchiDAO

The AavegotchiDAO is a decentralized autonomous organization that governs the Aavegotchi ecosystem. GHST token holders can make proposals and vote on key policies around development funds, partnerships, and special rewards. This grassroots approach allows the community to be directly involved. There is also a raffle system built into the DAO to distribute wearable assets.

Earning Yields with Aavegotchis

Each Aavegotchi generates yields based on the staked value of GHST tokens bonded to it. The more GHST bonded, the higher the yield. These returns are dynamic as they fluctuate based on lending markets. Yields are delivered in the form of interest-bearing aTokens. The DeFi rewards provide real value propositions beyond just speculation and trading.

Aavegotchi Rarity and Values

There are billions of potential Aavegotchi combinations, with varying levels of rarity. Traits like portal color, base rarity score, and number of rare items impact an Aavegotchi’s overall value. The rarer the Aavegotchi, the higher its selling price tends to be. Prices are driven by open markets based on what collectors are willing to pay. Some rare Aavegotchis have sold for over 100 ETH.

The Future of Aavegotchi

Aavegotchi represents an evolution in blockchain gaming and NFTs. The project demonstrates how virtual worlds can merge creativity, community engagement, and incentives. As Aavegotchi continues developing games, partnerships, and its ecosystem, there is potential for major mainstream adoption. The future looks bright for one of the top crypto-gaming DAOs leading innovation.