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Bitvavo makes Aavegotchi as easy as possible. Here are answers to common questions to help you make your first steps in the world of digital assets.
Aavegotchi (GHST) is a crypto collectible game on the Ethereum blockchain that combines elements of decentralized finance (DeFi), non-fungible tokens (NFTs), and gaming. It allows users to not only play, but also earn by actively participating in the ecosystem. The concept is inspired by the Tamagotchi game from the 90s, where players took care of digital pets. In Aavegotchi, however, these “pets” are ghostly avatars called Aavegotchis that are fully owned by the player as NFTs.
Each Aavegotchi avatar is unique, with attributes that determine their rarity and value, including a rarity score, associated wearables, a relationship score (how often a player interacts with their Aavegotchi), and the amount of aTokens staked. These aTokens, based on the Aave protocol, contribute to the avatar's value.
The Aavegotchi ecosystem is powered by the GHST token, which is used for all transactions within the platform, such as buying and selling Aavegotchis, wearables, and other in-game items. GHST can also be staked for additional rewards. The platform also offers opportunities for digital land ownership in the “Gotchiverse,” a virtual world where players can build, explore, and compete.
Players can stake their Aavegotchis to generate yield through the Aave Lending Protocol, where the value of staked aTokens (also known as "Spirit Force") increases over time. This allows an Aavegotchi to become more valuable as time passes and the player remains active. The platform also features "Rarity Farming," a reward mechanism that awards GHST tokens to the rarest and most actively used Aavegotchis. This incentivizes players to continually improve their avatars and actively participate in the community.
Finally, the platform offers a Decentralized Autonomous Organization (DAO), called AavegotchiDAO, where GHST holders can vote on important decisions within the ecosystem. This makes Aavegotchi not just a game, but a community-driven project where players have an influence on the future of the platform.
Aavegotchi was developed by Pixelcraft Studios, a Singapore-based company led by Jesse Johnson (co-founder and COO) and Coder Dan (co-founder and CEO). Jesse Johnson has extensive experience in the blockchain and NFT sector, with previous roles at companies including China Intop Exhibition Co and ZB Group. The project was advised by Stani Kulechov, founder of Aave Protocol, who is also an investor in Pixelcraft Studios and plays a crucial role in the Aavegotchi ecosystem.
Aavegotchi offers several features and applications:
Each Aavegotchi NFT is tied to a collateral, the “Spirit Force,” consisting of staked aTokens via the Aave protocol. These tokens generate yields, increasing the value of the Spirit Force over time.
The initial value of the Spirit Force is determined by the rarity score of the Aavegotchi. Users must stake a minimum amount of Spirit Force to activate their Aavegotchi. This stake will remain for the life of the NFT, but can be increased as desired.
Aavegotchis have unique stats, such as energy, brain size, and experience, that affect their rarity score. These stats are randomly determined when opening a "Portal," an in-game loot box from which the user can choose one Aavegotchi. Any remaining avatars in the Portal are removed, increasing their scarcity. Traits can be further improved by interacting with the Aavegotchi and using specific consumables.
Wearables are digital items that allow players to personalize their Aavegotchi. They not only affect the appearance, but also the rarity score and properties of the Aavegotchi. Wearables can be bought, sold, and traded on the Aavegotchi Marketplace.
In the Gotchiverse, Aavegotchi's digital universe, players can participate in activities such as exploring, building, and battling. The platform also offers mini-games where Aavegotchis can improve their skills and earn additional rewards. The Gotchiverse introduces new tokens such as Gotchus Alchemica and GLTR, which are used to build and upgrade Installations on land.
The GHST token is used to purchase Aavegotchis, open portals, and acquire wearables and consumables to enhance Aavegotchis' capabilities. Additionally, GHST allows holders to participate in governance via the AavegotchiDAO, where important decisions about the project's future are made.
GHST tokens can also be staked for additional rewards, such as REALM tokens, which represent digital land ownership in the Gotchiverse. The maximum supply of GHST is set at 52,747,802 tokens, after the closing of the bancor bonding curve model, which was used to dynamically adjust the token supply.
Aavegotchi distinguishes itself from other crypto and blockchain projects through a number of special features that make the platform unique:
You can buy Aavegotchi (GHST) via Bitvavo. Our platform is suitable for both beginners and experienced traders. Follow these steps to buy GHST via our website or app:
The price of GHST is directly determined by the current market value. After completing the purchase, the GHST tokens are automatically added to your Bitvavo account, where you can easily manage or trade them, so you can quickly respond to market developments.
You can safely store your Aavegotchi coins in your Bitvavo account. The majority of customer funds are stored in secure offline cold storage, which ensures a high level of security. However, it is recommended to enable two-factor authentication (2FA) for extra security, where you enter an additional verification code in addition to your password when logging in.
Additionally, you can store GHST tokens in many software and hardware wallets. If you want to transfer your GHST coins to an external wallet, make sure you enter the wallet address correctly in your Bitvavo account. You can then easily and securely transfer the tokens to an external wallet for extra peace of mind.
* This is for informational purposes only and is not advice, nor should it be relied upon as such.
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