Pixelcraft Studios’ new NFT digital collectibles game, Aavegotchi, was created to improve the user experience in DeFi and make the complex mechanics of liquidity mining and yield farming much more fun.
Non-fungible tokens (NFTs) are increasingly taking over the digital industry, and the DeFi They don't escape from it. That's why the new NFT collectibles game, aavegotchi, aim to make DeFi spaces, and interaction within them, happen in a fun way.
Aavegotchi is developed by the company Pixelcraft Studios, on the DeFi liquidity protocol Aave. Through its game, Pixelcraft Studios seeks to unify the DeFi and NFT universe with unique crypto-collectibles that can be staked in DeFi to gain multiple benefits within these ecosystems. Aavegotchi has gained widespread popularity and recognition among active users and followers, who are drawn to its pixelated ghost avatars that feature original and innovative characteristics and traits that uniquely provide value to them within the game.
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An avatar with unique features
Aavegotchi’s ghost avatars feature random, original attributes that are mostly determined at the time of “birth” or minting of the tokens, making them true DeFi-powered NFT collectibles.
In Aavegotchi, each character is uniquely identified by their personality, skin or body color, eye size, aggressiveness, energy, and many other different traits that make each character unique and unrepeatable. On the other hand, as you interact with the characters in the mini-games available on the platform, each Aavegotchi will acquire new characteristics or modify existing ones, which in turn will increase its value.
$GHST, the Aavegotchi economy
In September last year, Aavegotchi developers announced the launch of a governance token for the project, called GHST. This token can be purchased, initially, on the gaming platform or through Uniswap, and then earn it by actively participating in the game economy, as well as participating in voting, governance, and the new mode of yield farming or yield farming, which is becoming popular in DeFi since last year.
Aavegotchi introduces what is known as “rarity farming,” which is a new variant of yield farming to generate yield in DeFi. This modality allows users to farm their tokens by participating in the game to increase their rarity, and extract liquidity as a reward for the rarest and most original Aavegotchi avatars on the platform. Users can also stake their Aavegotchis on the protocol as liquidity providers (LPs), to earn liquidity and yield based on their staked tokens, which depend on how rare and original they are and their traits.
Aavegotchi developers also plan to integrate a future Metaverse where users can continue to farm their tokens as first-generation crypto pets, which can interact with each other on digital plots of land, town squares, and a variety of other settings.
“Aavegotchi introduces many innovations to the blockchain gaming sphere, including DeFi token collateral staking, dynamic rarity, rarity farming, DAO-governed game mechanics, and an open metaverse with smart contract interoperability and voting,” says the white paper of the project.
An NFT project that already reproduces this idea is Axie Infinity, which recently achieved the largest NFT sale seen in history, when an anonymous user paid 1,5 million for acquiring the 9 rarest plots of digital land that exist within the game.
AavegotchiDAO, governance in the hands of the community
The development of the project, which was initially funded by a grant from Aave, will be led by its Decentralized Autonomous Organization (DAO) call AavegotchiDAO, which will be the DAO governed by the $GHST utility token. AavegotchiDAO, built on Aragon, will be called upon to govern the further development of the project, which will be owned by the community rather than the developers, and will serve to reward users and GHST token holders for making decisions within the game.
A growing market
Aavegotchi NFT tokens can be traded, sold and bought on NFT collectibles marketplaces such as OpenSea, where it ranks #56 among the top non-fungible tokens (NFTs) on the market. This recently launched project shows a growth of 181,4% in the last 7 days, and has a total of 17.490 active users so far.
The total volume traded on Aavegotchi is 247 ETH, valued at $448.800 USD at the time of this publication.
Migrating to Matic Network
Aavegotchi was first announced in the middle of last year, as a revolutionary project designed to build a digital community around the potential of NFT and DeFi applications. This game, which was scheduled to launch on January 4th of this year, was postponed due to high fees and high gas costs in Ethereum.
The developers of Aavegotchi reported the delay of the launch on their Twitter account. In addition to this, they highlighted that, to solve this problem, the game would migrate to the Matic Network protocol, which is a second-layer protocol developed for Ethereum with the aim of improving scalability and reducing transaction costs within this network.
Through Matic Network, Aavegotchi seeks to eliminate gas fees, and therefore make the game much more feasible and easy to use, where transaction costs are cheaper and where transaction confirmations occur in the shortest possible time.
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