Aavegotchi (GHST) is a DeFi-focused non-fungible token (NFT) that runs on the Aave protocol. Simply put, Aavegotchis are game avatars that can be used as DeFi collateral to earn staking rewards.
Like CryptoKitties, the tokens have differentiating qualities such as body color and personality. Being a staked asset, its owner can liquidate the tokens at any time. Unfortunately, liquidating the NFTs means you lose your Gotchi.
The characters have a pixelated ghost appearance since they follow Aave, which translates to “ghost” in Finnish. The token ticker also cleverly spells out “ghost,” minus the vowel.
In November 2020, Aave invested in Pixelcraft Studios, bringing raffles to its protocol. The project’s mainnet launch was scheduled for Jan. 4, 2021, but was pushed to a future date due to high transaction fees on the Ethereum blockchain, where it runs as a side chain.
A team with vast experience in different fields runs the DeFi project. Coder Dan is its pseudonymous chief executive officer and co-founder. Its other known co-founder is Jesse Johnson.
Johnson is also the founder and COO of Pixelcraft Studios and the creator of Bullionix, the first gold-backed NFT collectibles. In the past, Johnson held key roles such as director of business relations/development and manager of international market development in different companies, including China Intop Exhibition Co and ZB Group.
The team also includes other pseudonymous members handling critical roles such as art director and Solidity lead. Aave’s founder, Stani Kulechov, is the project’s advisor.
Notably, the token doesn’t have a maximum supply. The total GHST token supply is 22,854,372. The platform uses a bonding curve to cater to the continued GHST distribution.
For example, the curve ensures that a higher utility positively impacts the demand and price over a given period of time.
GHST tokens were distributed in two initial rounds, with each round having different amounts. To elaborate, the private round involved 5 million tokens, while the presale saw 500,000 tokens sold. Governance rewards and rarity farming are some of the other ways that the token found its way into investors’ hands.
The vesting period for tokens distributed during the private and presale rounds was fixed at 365 days. Other beneficiaries in the distribution of tokens include the team and ecosystem fund that received 1,000,000 GHST.
GHST is launched as a DAICO — a DAO governed token sale, which means that the funds raised are managed by the community. GHST is described to be a DeFi-enabled crypto collectibles project that allows users to collect, compete, and combine their Aavegotchis for a gamified DeFi experience.
SINGAPORE, March 28, 2022 – NFT gaming protocol, Aavegotchi,will release its new open-world game, The Gotchiverse, on March 31, 2022. The Polygon-supported RPG metaverse allows users to explore, battle, craft exclusive NFTs, and play-to-earn via their Aavegotchis, interest-bearing NFT avatars inspired by the early 2000s craze, Tamagotchi.
Since Aavegotchi’s original NFT launch a year ago, its player base has grown significantly thanks to a number of initiatives such as Rarity Farming, NFT Raffles, the Baazaar NFT marketplace, and GBM Bid-To-Earn Auctions.
However, the new play-to-earn ecosystem incorporates four new fair-launch ERC-20 tokens, FUD, FOMO, ALPHA, and KEK, that represent the four elements of the Gotchiverse and are collectively known as Gotchus Alchemica. They can be traded for GHST, the game’s native eco-governance token, or crafted together to build and upgrade installations, key structures like harvesters, reservoirs, and black holes that provide players with more defense and earning productivity.
“Gotchus Alchemica are some of the most innovative ERC-20 tokens to date,” says Pixelcraft Studios Co-Founder and COO, Jesse Johnson (AKA goldnXross). “They’re also the keys to ‘making it’ in the Gotchiverse and getting the most out of this one-of-a-kind gameplay experience.”
The three distinct ways to earn Alchemica are by farming from underground, exploring the surface for loose spills, and channeling it from the skies above. Every REALM parcel within the Gotchiverse contains a unique but varying amount of Alchemica, with exact portions only revealed after a player purchases a parcel and surveys the land. Not only will the community be able to trade the novel tokens through the Gotchus Alchemica Exchange (GAX), but they can also earn a fifth ERC-20 token called Glitter (GLTR), which is awarded to players for providing liquidity on the GAX.
Players can also earn Alchemica even if they don’t own an Aavegotchi. The Gotchi Lending program, a 100% on-chain sharing economy, allows anyone to play and split rewards by borrowing an Aavegotchi from the owner through the Aavegotchi Baazaar. Otherwise, they will soon be able to play for free as the Aavegotchi’s arch nemeses, the “Lickquidators,” one-time use NFTs that grant players access to the Gotchiverse, where they can collect Alchemica and fight Aavegotchis.
About The Gotchiverse
The Gotchiverse is Pixelcraft Studio’s flagship title that celebrates the best of blockchain technology. The metaverse is built on Aavegotchi, an open-source, community owned, NFT gaming protocol that unlocks true asset ownership for gamers. In this spirit, The Gotchiverse is co-created with direct input from the community via AavegotchiDAO. Summon your first Aavegotchi today and meet us in the Gotchiverse!
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