The ghostly NFTs with their own virtual world offering plenty of rewards
Aavegotchi regularly sits near the top of DappRadar’s Polgyon Games ranking pages for two very good reasons: it’s incredibly fun and very addictive. What started as an NFT and GameFi project has grown to become an entire digital ecosystem. But knowing about the game is one thing. Now you can find What is Aavegotchi and what you need to get started.
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Like most web3 platforms, Aavegotchi has been affected by 2022 downturn. Saying this, thousands of users still play the game every month. And traders continue to purchase hundreds of thousands of dollars worth of GHST tokens and in-game assets every week.
Joining today could be the perfect time to get involved. But it’s important you know what you’re doing before you start spending your money.
What is Aavegotchi?
Aavegotchi is an NFT collectible project that has grown to incorporate elements of decentralized finance (DeFi), asset staking, land ownership and blockchain gaming. Pixelcraft Studios, a Singapore-based game development company, launched Aavegotchi in September 2020.
Initially introduced as a GameFi NFT project, Aavegotchi has grown to become an entire ecosystem where users can play games, earn rewards and put their land to use.
Pixelcraft Studios introduced a rental program in March 2022 and has plans for a mobile-native app in its roadmap.
“Aave” comes from the Finnish word for ghost and “gotchi” from the popular 1990s digital pet tamagotchi.
What blockchain is Aavegotchi built on?
Aavegotchi was originally built on the Ethereum blockchain. This means the pixelated ghost NFTs conform to the ERC-721 standard.
In late 2021, Pixelcraft Studios moved its operations to the Polygon network. This means it’s still compatible with the Ethereum Virtual Machine (EVM) and transactions are still settled on the Layer1 Ethereum network.
On the other hand, day-to-day “business” activity is all carried out on Polygon. This network is faster, less expensive and more sustainable than Ethereum is, in its current form. Aavegotchi’s move to Polygon has made its user experience much better.
With Polygon being a Layer2 network built on Ethereum, users can easily transfer their assets from one network to the other.
How do you play Aavegotchi?
The Aavegotchi game contains a 2D map called the Gotchiverse. Players can move around this space and search for hidden rewards.
There is also a battle mode where players can slug it out in the Aarena. Only users with enough Spirit Force can fight each other. There are plans to introduce more gaming features as the game moves into the future.
So far, that’s all the gameplay functionality that Pixelcraft has introduced to the Aavegotchi virtual world.
What is an Aavegotchi?
Aavegotchis are the main characters that populate the entire ecosystem. They are players’ entry ticket to the game and are the medium through which everyone participates in the ecosystem. Without an Aavegotchi, you can still play in the Gotchiverse, either as a visitor or with a rented avatar. But certain events, like Rarity Farming, require a user to hold their own Aavegotchi.
Also referred to as Gotchis, these NFTs are ghost-like critters that need consistent care. “Petting” your Gotchi every 12 hours increases your level of kinship with the ghost. This then improves your level of Alchemical Channeling, which is when players receive a daily stipend of Gotchus Alchemica.
Clothing your Aavegotchi with Equipment increases its rarity which increases your chances in the rarity farming events.
With their Gotchi, players can travel around the map and collect rewards. This is known as a Playdrop and is one tactic that Pixelcraft Studios uses to keep players engaged on the platform.
Are there any in-game tokens?
There are plenty of tokens associated with the Aavegotchi. Users are able to exchange GHST directly for fiat currency. For other ones, holders will need to exchange them into GHST before turning them into real-world cash:
GHST
GHST is the main in-game currency. Players need GHST to purchase anything inside the Gotchiverse. Whether it’s Portals, wearables, consumables or collectibles, you’ll need this token to do it.
You can also stake your GHST to earn yield and use it to vote in the DAO.
FRENS
Stakers earn daily FRENS tokens when they lock away their GHST tokens. Users can purchase Raffle Tickets with FRENS tokens.
FUD
There is a total supply of 100,000,000,000 FOMO tokens. As the most prevalent token, FUD is also the least valuable. Saying this, it does have some worth.
It can be used to purchase in-game assets. And it can be combined with other tokens to create useful items.
FOMO
There is a total supply of 50,000,000,000 FOMO tokens. FOMO is the second-most common token in Aavegotchi. As with the other Gotchiverse elements, users can spend FOMO to create buildings.
ALPHA
There is a total supply of 25,000,000,000 ALPHA tokens. Players need to spend less Alpha to create buildings than they do FOMO and FUD.
KEK
There is a total supply of 10,000,000,000 KEK tokens, which makes it the most rare of the Gotchiverse elements.
Together, FOMO, KEK, ALPHA, FUD are called the Gotchus Alchemica and are the four elements that make up the Gotchiverse. Holders of these tokens can combine them to craft Installations and Aesthetica, such as Tiles.
Users can also spend one of the four Gotchus Alchemica tokens to buy land inside the Gotchiverse. Here’s how much of each one you need in order to purchase some digital property.
Pixelcraft Studios has developed a guide to the tokenomics that underpin the currencies in Aavegotchi.
What is the Gotchiverse?
The Gotchiverse is the ecosystem inside which all Aavegotchi action takes place. Three main areas comprise the Gotchiverse and these are:
The Citadel
This is a homebase for Gotchis within the Gotchiverse. A special forcefield rings The Citadel to keep out the enemy Lickquidators. Players cannot build within The Citadel, except in very rare cases.
The Grid
This Grid exists outside The Citadel and players can build on their own parcels of land here. But Lickquidators also lurk throughout The Grid.
The Aarena is located within The Grid. This is where Gotchis with enough Spirit Force can do battle with one another.
The Beyond
The Beyond is currently locked. But when it’s opened, more parcels of land will become available.
What is a REALM parcel?
REALM parcels are the lands that users can purchase as NFTs within Aavegotchi. They come in three separate sizes and each costs a different amount:
Humble
These are 8×8 pixels and contain a small amount of the Gotchus Alchemica elements. Users can construct small buildings on these REALM parcels.
Reasonably Sized
These are 16×16 pixels and contain a medium amount of Gotchus Alchemica elements. Users can construct medium-sized buildings on these plots.
Spacious
These plots are 32×64 pixels and users can construct huge buildings here. Spacious plots also contain massive deposits of in-game tokens.
Players can buy adjacent plots of land and combine them to create mega-estates. From here, they can start building out their Aavegotchi empire.
As the game matures and more functionality is added, there’s a possibility that big landholders will be able to build their own ecosystem with the wider game.
Is there a marketplace where I can buy REALM?
You can visit the Aavegotchi marketplace to buy REALM. When you’re there, you can also purchase:
- Aavegotchis – these are the in-game NFTs.
- Portals – during special periods, you can use these to spawn new Aavegotchis.
- Installations – special structures built on top of REALM parcels.
- Tiles – can be applied to REALM parcels for aesthetic purposes.
- Equipment – you can add Equipment to your Aavegotchi NFT to increase its rarity.
- Raffle tickets – these give holders the chance to win a prize.
Aavegotchi has its own native marketplace, called the Aavegotchi baazaar. They launched it in February 2021 and made GHST the only viable currency.
As it’s built on the Polygon network, transaction times are fast and fees are low.
Is Aavegotchi a good investment?
Aavegotchi is not known for offering extraordinarily high yield APR in return for staking your GHST.
So don’t expect returns of five or ten X.
On the flip side of not offering high returns, Aavegotchi’s slow release of in-game tokens means the economy has been sustainably managed. Some tokens exploded during the 2021 hype cycle before crashing this year.
GHST, on the other hand hasn’t dropped 85% to 95% off its all-time high, probably as a result of its steady economy.
Buying an Aavegtochi NFT might also represent a good investment. As the bear market has set in, the price of the game’s ghost characters has gone down. The most expensive Gotchi ever sold went for $176,960 10 months ago.
Now, with the price of ETH going down, you can pick up a Gotchi for just over $600. If the web3 world recovers and Aavegotchi maintains its position as a favorite among the community, these prices could begin to look like bargains.
The game also has a rental system where players can loan out their Gotchis and take a share of the leaser’s profits.
Can I swap GHST for fiat currency?
Yes you can. GHST reached an all-time high of $3.08 on November 25th, 2021. Since then it has followed the general downward trend of all other cryptocurrencies.
You can find out for yourself how much GHST is currently worth. You can also use our Token Explorer tool to swap GHST tokens for MATIC. Once you’ve done this, you can swap that out for fiat currency.
Alternatively, you can move your GHST directly to an on-ramp centralized exchange where GHST is listed. You can then sell it for fiat currency.
Useful links
Go to Aavegotchi site
Aavegotchi on-chain data
DappRadar’s Aavegotchi articles
Aavegotchi’s rental program
Aavegotchi’s Gotchiverse farming release
