What Is Aavegotchi (GHST)? All You Need To Know

Key Takeaways

  • Aavegotchi (GHST) is a DeFi-powered play-to-earn NFT game inspired by the 90s game Tamagotchi.
  • Players collect Aavegotchi NFTs, which are pixelated ghosts living on the blockchain.
  • Aavegotchis can be accessorized with wearables that affect their appearance, rarity, and gameplay abilities.

What Is Aavegotchi (GHST)?

Aavegotchi (GHST) is a crypto collectible game that combines DeFi (decentralized finance), blockchain gaming, and digital pet ownership. Pixelcraft Studios launched the project in 2020 and was co-founded by Jesse Johnson and Coder Dan.

The project aims to create a fun and engaging experience where you can play with your Aavegotchi (similar to Tamagotchi from the 90s, but on the blockchain with additional DeFi and NFT functionalities), participate in mini-games, earn rewards, and even participate in the governance of the Aavegotchi ecosystem through the GHST token.

How Does Aavegotchi (GHST) Work?

Aavegotchi (GHST) combines Decentralized Finance (DeFi) and NFTs to create a unique gaming experience. Here’s a breakdown of how it works:

Aavegotchis: The NFT Collectibles

Aavegotchis are pixelated ghosts that live on the Ethereum blockchain. Each Aavegotchi is a unique NFT with various traits that determine its rarity. Rarity is also influenced by factors like base characteristics, wearables equipped, and staked collateral.

DeFi Integration: Staking And Collateral

You can stake your Aavegotchi with aTokens (interest-bearing tokens from the Aave protocol). This increases the Aavegotchi’s rarity and potentially earns interest on the staked tokens. Aavegotchi also acts as a gamified escrow account for your staked tokens.

Play-To-Earn Activities

Aavegotchi offers various ways to earn GHST:

Rarity Farming – Compete with other Aavegotchis based on rarity and other factors to win GHST rewards.

Minigames – Play mini-games within the Aavegotchi universe to potentially earn GHST.

The Gotchiverse – Explore and interact with your Aavegotchi in The Gotchiverse (metaverse land parcels), potentially earning new resources or tokens.

Aavegotchi (GHST) Token And Tokenomics

Tokenomics

The GHST token is Aavegotchi’s native cryptocurrency. It is used for:

  • In-Game Currency
  • Staking
  • Governance
  • Liquidity Provision

Token Details

Total Supply 52,747,801 GHST

Circulating Supply 52,747,801 GHST

Current Price $3.12

Market Capitalization $164,710,916

This information is current as of April 30th, 2024, and the token’s price, market value, and available supply may fluctuate.

Distribution

The initial distribution of Aavegotchi’s GHST token happened in three stages:

  1. Private Sale (August 2020) – This sale was for accredited investors who passed KYC (Know Your Customer) procedures and had a minimum investment of 20,000 DAI. Funds raised here went to Pixelcraft Studios, the developers, for building the Aavegotchi game.
  1. Pre-Sale (September 2020) – This 14-day sale was open to anyone who met KYC requirements and achieved “Level 6 Aagent” status.  There was a limited supply and a 0.1 DAI per GHST price. Pre-sale tokens vested over one year, with half released after six months and the rest trickling out over the following six months.
  1. Public Bonding Curve Sale – Those who completed the KYC process and received whitelist approval from the Aavegotchi team can purchase GHST tokens directly on the bonding curve. The price opened at 0.2 DAI per GHST and fluctuated along the curve.

Where Can I Buy Aavegotchi (GHST)?

Binance Binance is a major exchange offering a wide range of cryptocurrencies. It offers multiple ways to buy crypto, including credit cards, debit cards, and peer-to-peer (P2P) trading.

Coinbase Coinbase is an American-based cryptocurrency exchange that allows you to buy cryptocurrencies using various payment methods, including bank transfers, debit cards, and wire transfers.

Bitget – This exchange allows you to buy cryptocurrencies with fiat currency or trade them for other crypto assets. It also offers various trading features and functionalities.

Is Aavegotchi (GHST) A Good Investment?

Pros

  • Play to Earn – Aavegotchi offers a way to earn cryptocurrency while playing a game. You can earn rewards through various methods like staking your GHST tokens or caring for your Aavegotchi pet.
  • DeFi Integration – Aavegotchi combines aspects of Decentralized Finance (DeFi) with the play-to-earn model. You can stake your Aavegotchi with interest-bearing tokens to increase its value.
  • Digital Collectibles – Aavegotchis are digital collectibles with varying traits and wearables that affect their rarity and value. You can collect, breed, and trade these Aavegotchis.

Cons

  • Gas Fees – Every time you buy something in the game, you must pay a gas fee. This fee is paid in MATIC tokens and can be quite expensive, depending on the congestion of the network.
  • Time Commitment – Aavegotchi can be a time-consuming game. There are many things to keep track of, from feeding your Aavegotchi to taking care of its wearables.
  • UI Bugs – The game is still under development, and the user interface may occasionally have bugs.

Final Thoughts

Whether Aavegotchi (GHST) is a good investment depends on your risk tolerance and goals. Remember, this guide provides a starting point for your research. Always conduct your due diligence before making any investment decisions.

Via: 2Usethebitcoin.com

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