What exactly is Aavegotchi? (GHST)

Aavegotchi NFTs are unique. They have intrinsic value offered by their underlying collateral of aTokens and interest-bearing representations of assets supplied to the Aave DeFi protocol. Withdrawing the collateral destroys the Aavegotchi, as the tokens represent its “spirit force.”

How does Aavegotchi work?

Aavegotchi is an NFT game merged with a DeFi protocol that allows the staking of tokens within the system. It is based on the Tamagotchi game and is hosted on the Aave (AAVE) network. Tamagotchi was rather popular during the nineties when practically everyone had a Tamagotchi friend to feed, bathe, clothe, and nurture into adulthood. With Aavegotchi, players can create their own Gotchis, represented by non-fungible tokens that can be stake.
Users can also liquidate their staked Gotchis, i.e., NFTs, in which case they would lose their Gotchi in the game. Players can buy their own Gotchi, or more, while every Gotchi has a different set of characteristics and traits. The value of Gotchis also varies – the more unique and rare a Gotchi is, the greater its value is.
The utility token GHST cleverly translates the meaning of the ticker AAVE, which means “ghost” in Finnish. Characters also look like ghosts and are pixelated in the spirit of the famous Tamagotchi virtual pet that most nineties kids enjoyed. The Aavegotchi game uses incentives for players, rewarding them in GHST. At the same time, users can also invest funds and time in their Gotchis, which makes their NFTs more valuable.
Aavegotchi works as a Tamagotchi-like game but using blockchain and is based on the Aave protocol. Players can buy Gotchis as NFTs with GHST tokens and “upgrade” their avatars by playing minigames, dressing them up, and taking care of them. The more time and money a player spends on their Gotchis, the more valuable they become as NFTs. Players can also earn GHST based on their activities.
So-called rarity farming seasons are regularly organized to reward users based on Gotchi’s experience, rarity, uniqueness, and loyalty. Users receive rewards in each round of rarity farming based on transparent rankings. In addition, Gotchis also have value as in-game NFT collectibles. The reward funds come from general sales on the network when users buy clothes and various accessories for their Gotchi avatars.

Where Can I Buy GHST?

aavegotchi
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