Aavegotchi is a crypto collectible game built on Ethereum where participants can purchase and grow Aavegotchis, Non-Fungible Token (NFT) avatars used to explore and interact with Aavegotchi’s digital universe.

Each Aavegotchi avatar is a digital collectible that has unique attributes defined by a rarity score. The score is calculated by specific character traits, wearables attached to the avatar, a kinship score, which is based on how often the player interacts with the avatar, and the amount of Aave-powered aTokens staked to the avatar.

The platform draws on nostalgia for the handheld digital pet game Tamagotchi, enriching its classic gameplay with blockchain-enabled functionality. Aavegotchi incorporates many popular aspects of crypto into one unified platform: decentralized finance (DeFi), blockchain gaming, staking, and digital land ownership.

Aave derives its name from the Finnish word for “ghost,” and Aavegotchis are depicted by a cartoon ghost, hence the name for the associated token: GHST.

GHST is the primary utility token of the Aavegotchi ecosystem and is used to buy and sell goods within the Aavegotchi world, including Aavegotchis themselves. GHST can also be staked for additional rewards and can be transferred between users just like other cryptocurrencies.

How Does Aavegotchi Work?

In order to obtain an Aavegotchi, a user must first obtain GHST tokens from an exchange like Kraken. With their GHST, participants can either directly purchase an Aavegotchi, or purchase a Portal, which is a pack of ten Aavegotchis from which users can only choose one.

Aavegotchi avatars can also be thought of as escrow accounts that hold staked tokens. When summoning a new Aavegotchi, a user can also stake a minimum amount of Aave-based aTokens, which are cryptocurrencies pegged to the value of another asset, with their Aavegotchi avatar in order to increase its rarity score.

The amount of aTokens staked to an Aavegotchi is known as its Spirit Force and the value of the Aavegotchi increases based on this number. Additionally, Aavegotchi’s Spirit Force generates yield on participants’ aTokens through Aave’s lending protocol, thus increasing the number of tokens staked to Aavegotchis over time.

Other than the Spirit Force, Aavegotchis possess two other attributes that contribute to their rarity and value:

• Traits are randomly chosen for Aavegotchis upon summoning and are graded according to relative rarity. Examples of traits include energy, experience, and brain size, all of which impact the rarity of Aavegotchis and how they perform in games.
• Wearables give each Aavegotchi a unique appearance, boost their traits and rarity scores, and can be bought, sold, or traded separately in the Aavegotchi’s marketplace.

Aavegotchi can also use consumables to temporarily augment their traits while participating in games across the Aavegotchi ecosystem.

Finally, users can stake their GHST tokens to unlock REALM, which are tokens that represent land ownership in the digital world inhabited by Aavegotchis.

As with Aavegotchis themselves, all transactions involving wearables, consumables, and REALM use GHST.

Who Created Aavegotchi?

Aavegotchi was created by Singapore-based Pixelcraft Studios, which is led by a number of coders and developers with experience in the NFT and DeFi worlds.

Aavegotchi was officially launched in September 2020, and the initial token distribution saw 5 million GHST tokens go to private sale participants, 500,000 to presale participants, and 2 million to the development team, with the rest being distributed via public sale.

Source: https://www.kraken.com/en-us/learn/what-is-aavegotchi-ghst