What are Aavegotchi NFT pets and are they worth the $450 entry price? | Pretty Reel

Aavegotchi is a game that uses NFTs with dynamic attributes to earn crypto by playing minigames and leveling up the NFT, and despite its three-digit entry price, it’s one of Blockchain’s most popular Play-To-Earn (P2E) games. Aave (meaning “ghost” in Finnish) is a cryptocurrency lending and borrowing app that allows users to obtain crypto loans using their cryptocurrency/stablecoin holdings as collateral.

aTokens are interest-bearing cryptocurrencies issued when a user makes a deposit on Aave, and they can be bought and sold on decentralized exchanges (DEX) like Uniswap or Quickswap. In short, when a user deposits crypto, they receive tokens, and when they deposit tokens, they receive crypto. Each cryptocurrency accepted by Aave is associated with an aToken (i.e. aUSDC, aWETH), and aTokens held in a crypto wallet will slowly accumulate over time.

According to the Swissborg Academy, Aavegotchi pets, or “Gotchis,” can be bought or sold in the Aavegotchi market with GHST tokens, or they can be created by purchasing a “Portal” and summoning a new one. Each Gotchi requires a minimum of aTokens to exist, which is marked on each Gotchi’s forehead, and each has unique stats/attributes that can be leveled up over time by playing with (and petting) the Gotchi pet. Aavegotchi is governed by AavegotchiDAO, a decentralized autonomous organization (DAO) of GHST token holders, and developed by Singapore-based Pixelcraft Studios. GHST is earned by playing minigames and voting in the DAO, and can be bought or sold on Polygon’s Quickswap DEX.

How do attributes determine their usefulness?

Used Aavegotchi pets may have better stats, equipped items, and a name, while new Aavegotchi pets will start out with randomly generated attributes, no NFT clothing, and no name. Currently, the floor price for a low-end Aavegotchi pet is around 410 GHST, or $471. To summon a new NFT Gotchi pet, a portal must be purchased. Opened portals will show 10 potential Gotchis that can be summoned, but only one can be chosen, while closed portals show nothing but have a small chance of dropping a rare Gotchi when opened (but they probably won’t) not). At the moment, portals are selling at a floor price of 515-570 GHST ($600-$655). To summon a Gotchi, the user must first deposit the required amount of aTokens, which is determined by its rarity.

A Gotchi’s attributes determine its rarity, performance in minigames, and NFT clothing that can be equipped to it. Most attributes are changed by interacting, upgrading, and equipping NFT wearable devices. Random traits are assigned by the Chainlink oracle’s VRF random number generator and are plotted on a bell graph curve to show their rarity. The more extreme a trait is on one side or the other, the more useful it will be for some minigames while being detrimental to others, and the only “bad” traits are the means. Gotchis gain experience (XP) by voting and playing mini-games, and with enough XP the pet can “level up”. Every few levels, a Gotchi pet will receive a spirit point to increase/decrease a trait of the user’s choice. The more levels a Gotchi pet has and the more refined its traits, the more valuable it will be to its owner (and other players).

While a prize of $450+ is a very high ask to play pixelated 2D minigames, dedicated players who learn to use the Aavegotchi system can actually earn money by earning crypto rewards, or they can train and return Gotchi pets to other players. Aavegotchi is currently one of the most blockchain-advanced P2E games, and is a great example of how NFTs and cryptocurrencies could be used to create games that blur the line between gaming and decentralized finance. (DeFi), otherwise known as “GameFi”. Although Aavegotchi is unlikely to expand beyond its crypto-native niche due to the high entry price, curious gamers can still rent a Gotchi NFT pet to play minis. -games and earn crypto rewards.

Source: Swissborg Academy, Aavegotchi

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What are Aavegotchi NFT pets and are they worth the $450 entry price? | Pretty Reel


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