Aavegotchi is a Non-Fungible Token (NFT) collectible with DeFi (Decentralized Finance) enabled elements released on Ethereum in late 2020. Aavegotchi is built around DeFi token collateral stakes, dynamic rarity, rarity farming, DAO-governed game mechanics, and a playable metaverse with mini-games.
Aavegotchis are rare crypto-collectibles living on the Ethereum (ETH) Blockchain, backed by the ERC-721 standard used in popular blockchain games such as CryptoKitties, Axie Infinity, and Cryptovoxels. Players can buy Gotchis as NFTs with GHST tokens and “upgrade” their avatars by playing minigames, dressing them up, and taking care of them. The more time and money a player spends on their Gotchis, the more valuable they become as NFTs. Players can also earn GHST based on their activities.
Aavegotchi was founded by Pixelcraft Studios in 2020 by a team that has a strong background and vast experience with DeFi and NFTs. The Pixelcraft Studios and Aavegotchi platforms were founded by Jesse Johnson and his pseudonymous co-founder Coder Dan. A majority of the other team members are using aliases to work on the project.
The three attributes that determine their overall value and rarity Aavegotchis within the Aavegotchi universe are collateral stake, traits, and wearables.
MATIC Network Launch
On January 6, 2021, Aavegotchi, the DeFi-staked сrypto сollectibles game teamed up with blockchain scalability platform Matic Network now Polygon to facilitate on-chain gameplay. As part of the new partnership, Aavegotchi committed to launching its blockchain game first on Polygon. Polygon is a Layer 2 solution that largely fixes Ethereum’s scalability issue via an adapted version of Plasma with PoS-based side chains. Integrating will help Aavegotchi users to enjoy near zero transaction fees and faster settlement times.
Aavegotchi NFT Marketplace
In February 2021, Aavegotchi launched its NFT Marketplace alongside Portals and Wearables to ensure holders' Gotchi frens have a fine wardrobe that fits their personalities. Polygon’s low transaction fees and fast block times make it the perfect environment for an NFT marketplace.
Each Aavegotchi ERC721 NFT manages an escrow contract address that holds Aave-backed ERC20 collateral, or "aToken". aTokens generate yield via Aave’s LendingPool, which increases the number of aTokens held in the wallet. Thus, the amount of aTokens held in the Aavegotchi’s escrow address grows over time.
Aavegotchis possess multiple traits that influence their rarity, their performance in mini-games, and the wearables they can equip. Some are generated randomly upon birth, and others depend on user interactions with the Aavegotchi.
Upon birth, every Aavegotchi is assigned several random trait values using the ChainLink VRF random number generator. Trait values are distributed on a bell curve, and each trait is assigned a value of Common, Uncommon, Rare, Legendary, or Mythical, depending on its rarity.
"Kinship" is not randomly assigned, but rather starts at a fixed value upon birth and increases or decreases based on various factors, such as how long the Aavegotchi has been with the same owner, and how often the owner interacts with it.
Aavegotchis level up as they gain more experience by voting in AavegotchiDAO and participating in mini-games. Every few levels, Aavegotchis receives one Spirit Point that can be allocated towards increasing or decreasing a certain trait.
In addition to managing the aToken escrow, Aavegotchis also extend the ERC998 Composables standard, which allows them to manage child NFTs, known as wearables in the Aavegotchi ecosystem.
Not every wearable can be equipped by every Aavegotchi. Some wearables may be exclusively equipped by Aavegotchis staked with certain collaterals, those of a certain level, and those with certain traits.
Some wearables can increase or decrease certain traits of an Aavegotchi. For example, equipping a sword may slightly boost Aavegotchi’s aggressiveness, whereas equipping a Bob Marley shirt may decrease its energy level.
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.
The valuation of an Aavegotchi will come from both its intrinsic value and its rarity value.
Intrinsic value is the denominated value of the Aavegotchi’s staked collateral. If the Aavegotchi is staked with 10 aDAI, then the intrinsic value would be 10 aDAI, plus whatever extra aDAI has accrued from the Lending Pool. Initially, only ERC20 tokens listed on the Aave platform (aTokens) will be available as collaterals. However, once AavegotchiDAO launches, the community will be able to vote on which new collaterals to allow.
Rarity value is determined by calculating the rareness of each Aavegotchi’s traits and equipped wearables within the Aavegotchi universe. Unlike other NFT games, rarity is not a fixed value in Aavegotchi. It can change over time as Aavegotchis level up and equip different wearables. Thus, a rare Aavegotchi one week could become common, and vice versa, depending on the overall distribution of traits and wearables within the Aavegotchi universe. This enables a novel concept known as "rarity farming", which is explained in more detail in the Aavegotchi official whitepaper to be released soon.
The Aavegotchi Universe
The Aavegotchi Universe encompasses all the elements that allow Aavegotchis to operate, including Portals, the $GHST Utility Token, AavegotchiDAO, and the Aavegotchi Realm.
Aavegotchi will be built around DeFi token collateral stakes, dynamic rarity, rarity farming, DAO-governed game mechanics, and a playable metaverse with mini-games.
Aavegotchi Community partners include:
PHASE ONE: Incubation (Q2 2021 — Q4 2021)
- Polygon to Ethereum NFT Bridges
- Aavegotchi Onchain Side views
- GHST Token listed on Aave
- Social media integrations
- NFT Auctions
- REALM Gotchiverse Litepaper Release
- Haunt 2 (planned)
- REALM Gotchiverse Presale
- Raffle 5
- REALM Gotchiverse Whitepaper Release
- REALM Presale #2
- Aavegotchi Arcade Mini-game hub
- REALM Public Land Sale #1
- REALM Gotchiverse Alpha Launch
- Creator Economy Wearables Dapp Launch
- AavegotchiDAO V2 (Metamorphosis)
PHASE 2: Breakout (Q1 2022 — Q4 2023)
- Aavegotchi Builder SDK
- REALM Public Land Sales
- REALM third-party Dapp Integration
- GotchiGang Referral Program
- Aavegotchi Mobile App alpha launch
- More Haunts (planned)
- AavegotchiDAO V3 (Oasis)
PHASE 3: Ubiquitous (Q1 2024 — beyond)
- More Haunts (planned)
- REALM Public Land Sales
- Aavegotchi Minigame Builder
- Aavegotchi Hardware Wallet
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