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

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

aTokens are interest-bearing cryptocurrencies that are given when a user deposits on Aave, and they can be bought and sold on decentralized exchanges (DEX) like Uniswap or Quickswap. In other words, 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 (ie 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 aToken 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) to Gotchi pet. Aavegotchi is managed 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 on the DAO, and can be bought or sold on Polygon’s Quickswap DEX.

How do attributes determine their usefulness?

Used Aavegotchi pets can have better stats, equipped items, and a name, while new Aavegotchi pets will start with randomly generated traits, no NFT clothing, and no name Currently, the floor price for a low-end Aavegotchi pet stands at 410 GHST, or $471. To summon a new NFT Gotchi pet, a portal must be purchased. Opened portals will show 10 potential Gotchi that can be summoned, but only one can be selected, while closed portals show nothing but a small chance of dropping a rare Gotchi when opened (but likely no no). Right now, the 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 aToken, determined by its rarity.

A Gotchi’s attributes determine its rarity, performance in minigames, and the NFT clothing it can be equipped with. Most attributes can be changed by interacting with, upgrading, and equipping NFT wearable devices. The random attributes are assigned by the Chainlink oracle’s VRF random number generator and 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 detrimental to others, and the only “bad” trait is the method. 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 an attribute chosen by the user. The more levels a Gotchi pet has and the more refined its attributes, the more valuable it will be to its owner (and other players).

While the prize of $450+ is a very high request 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 can be used to create games that blur the line between gaming and decentralized finance. (DeFi), otherwise known as “GameFi”. While Aavegotchi is unlikely to expand beyond its crypto-native niche due to the high price of entry, 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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