Aavegotchi's are playable assets that act as collateral on DeFi networks. They have inherent benefits within the industry where their value may surpass their gaming value prospects. To interact with a Gotchi, DeFi users have to stake a group of tokens like LINK or USDC into a Gotchi. In addition to earning interest on the platform's native currency staked tokens (GHST) are positioned to win high-end items. Aavegotchi's are tradable on other marketplaces specialising in NFT trading and OpenSea. The project's revenue is used for interacting with mini-games and the sale of consumables and wearables. The rarer the Gotchi the higher the value it fetches within the market.
Some of the Top Exchanges For Trading Aavegotchi (GHST) Currently on Centralized Exchanges (CEX) include Binance, OKEx, MEXC Global, and TokoCrypto. You Can Find Others Listed On The CoinMarketCap Crypto Exchange Page.
Aavegotchi was created by Singapore-based Pixelcraft Studios led by several coders and developers with experience within the NFT and DeFi worlds. Aavegotchi was officially launched in September 2020. The initial token distribution saw 5 million GHST tokens move to private sale participants, 500000 to presale participants, and a couple of million to the event team. The remainder was distributed via public sale.
Aavegotchi (GHST) Development
Aavegotchi (GHST) is a DeFi-focused non-fungible token (NFT) that runs on the Aave protocol game avatars that will be used as DeFi collateral to earn staking rewards.
The tokens have differentiating qualities like personality and body color. Think CryptoKitties. A staked asset can liquidate the tokens at any time. A con may be that Liquidating the NFTs means you lose your Gotchi!
Since the characters have a pixelated ghost appearance follow Aave, interpreted as "ghost" in Finnish. The token ticker also intelligently spells out "ghost," minus the letter. Aave invested in Pixelcraft Studios. Interestingly The project's mainnet launch was scheduled for Jan 4 2021 but has been rescheduled for a future date due to the significant gas fees on the Ethereum blockchain, where this project runs as a side chain.
In order to get an Aavegotchi, a user must first obtain GHST tokens from an exchange. With their GHST participants can either directly purchase an Aavegotchi or purchase a Portal which is a pack of ten Aavegotchi's.
Aavegotchi avatars may be thought of as escrow accounts that hold staked tokens. When summoning a brand new Aavegotchi a user can even stake a minimum amount of Aave-based tokens which are cryptocurrencies pegged to the worth of another asset thus adding to its rarity score. The amount of Tokens staked to an Aavegotchi is understood as its Spirit Force. The more staked the higher the spirit force. Additionally, Aavegotchi's Spirit Force generates yield on participants' tokens through Aave's lending protocol thus increasing the number of tokens staked to Aavegotchi over time.
There are two other attributes that contribute to their rarity and value:
Aavegotchi may 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 represents land ownership within the digital world. REALM is the space inhabited by Aavegotchis and Like the Aavegotchis themselves, all transactions involving wearables, consumables, and REALM use GHST.
Before choosing a project to invest it's important to take the metrics of a project into account. One of the most important details is the economic aspects that we will delve a little deeper into in the following section:
as of the time of writing Nov 26, 2021. Interestingly In the last 24 hours, The trading volume has been about $156,705,002 meaning this amount of Aavegotchi has been traded and circulated. Aavegotchi’s Return On Investment (ROI) has been 428% over the last year. However, Aavegotchi underperformed in 'Play To Earn, Non-Fungible Tokens (NFT), Metaverse, Gaming, Polygon Ecosystem, Governance and Collectibles categories which had 3657% growth over the past year. The crypto market for this space had 1673% growth over the past year. Aavegotchi Market Cap is $233,021,190 million. Aavegotchi's rank is #322 in the market cap.
The project is guarded by a proof-of-work (PoW) and powered by the Ethereum blockchain. However, since Ethereum just started its mission to a proof-of-stake (PoS) system (through the Beacon Chain launch) it should eventually transition toward PoS. Additionally, Aavegotchi smart contracts are open source to confirm individual access and review for errors or hidden backdoors. At Cryptologist we offer All The Reports and key metrics you would require to assist you before making a decision to invest. On our Website, you'll Find up-to-date Reliable Reports About The Cryptocurrency Market including NFT Projects. Join us there in the future!
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