Aavegotchi (GHST)

Gaming and NFTs

Aavegotchi are digital pets represented by NFTs that players can own, dress up, and interact with. They serve as avatars in the Gotchiverse game, where players can explore, battle, and socialize. Players can also participate in rarity farming events to earn rewards.

Play-to-Earn Tokens

The Gotchiverse features four play-to-earn ERC-20 tokens called Gotchus Alchemica. These tokens can be earned by farming land parcels or collecting from the map and are used to craft or upgrade Installation NFTs or traded for GHST tokens.

DeFi Integration

Each Aavegotchi has Aave aTokens staked inside it, called "Spirit Force," which accrue interest. The GHST token is used for governance, purchasing NFTs, staking for raffle tickets, and can be used as collateral in DeFi protocols like Aave.

NFT Distribution and Marketplace

Aavegotchi uses a fair auction system called GBM for distributing NFTs, ensuring a fun and equitable experience. The Baazaar marketplace allows users to buy, sell, and trade Aavegotchis, Portals, wearables, and other NFTs.

Land and Real Estate

Players can buy land parcels called REALM in the Gotchiverse, which can be farmed by Aavegotchis to produce resources. Adjacent parcels can form estates, and landowners can craft installations to enhance their land.

Community and Governance

Holding Aavegotchi assets gives players voting power in the AavegotchiDAO, allowing them to help steer the project's development and make decisions about the ecosystem.

Bonding Curve Token Economy

The GHST token uses bonding curve mechanics to create a dynamic marketplace where token price and supply adjust automatically, supporting a decentralized economy within the Aavegotchi ecosystem.

Pros

• Aavegotchi combines DeFi and NFTs, allowing players to stake tokens and earn yield while playing.
• Unique gameplay with digital collectibles that have traits, wearables, and rarity that can be improved.
• Offers mini-games and activities like petting, dressing, feeding, and battling Aavegotchis.
• Players can earn GHST tokens and other rewards through gameplay and staking.
• Community-driven with active DAO governance where players can vote on decisions.
• Trustless lending of Aavegotchis without middlemen, with automatic profit splitting.
• Runs on the Polygon network, enabling lower gas fees and faster transactions.
• Open-source smart contracts increase transparency and security.
• Supports social features like text and voice chat in the Gotchiverse.
• Allows players to buy land parcels and build in the Gotchiverse metaverse.

Cons

• GHST token price can be volatile and has underperformed compared to some other cryptocurrencies recently.
• Gas fees, although lower on Polygon, can still be costly depending on network congestion.
• The game can be time-consuming, requiring regular interaction to maintain kinship and maximize rewards.
• Requires some technical knowledge to set up wallets and manage tokens.
• The ecosystem is still developing, with some features like the full Gotchiverse not yet fully live.
• Managing both ERC-721 and ERC-1155 tokens can be complex due to infrastructure limitations.
• Initial costs to buy portals, Aavegotchis, and wearables can be high for new players.

Founders

Aavegotchi was founded by Jesse Johnson and Coder Dan. They are the co-founders of Pixelcraft Studios, the Singapore-based game development team behind Aavegotchi. Jesse Johnson serves as the co-founder and COO, while Coder Dan is the co-founder and CEO.

Advisors

Stani Kulechov, the founder and CEO of Aave, was the first advisor to Aavegotchi. Other advisors include Mauvis Ledford (former CTO of CoinMarketCap), Les Borsai (co-founder of Wave Financial), and Marc Zeller (Integrations Lead at Aave).

Team Contributions

Coder Dan is a full-stack developer and the main technical lead behind the project. Jesse Johnson has a strong background in NFT platforms and product development. The team also includes other developers like Aris (PixellLab), who is the Gotchiverse architect.

Institutional Investors

Aavegotchi has received funding primarily from IOSG Ventures, which participated in its seed round in September 2020. This is the main institutional investor publicly known.

Gaming Guilds and Partnerships

Yield Guild Games (YGG) invested $800,000 into Aavegotchi, supporting its growth in the blockchain gaming sector. There is also a collaboration with Blackpool, a quantitative hedge fund for NFTs.

Other Investors

While some sources mention two investors, the most detailed information highlights IOSG Ventures and Yield Guild Games as key backers.

Summary

• IOSG Ventures: Seed round investor
• Yield Guild Games (YGG): Major gaming guild investor with $800,000 investment
• Blackpool: Partner and NFT hedge fund collaborator

These investors help support Aavegotchi’s development and expansion in the NFT and DeFi gaming space.

Halal Status

No, Aavegotchi is not considered halal.

Reason

Aavegotchi combines DeFi yield farming with NFTs, involving staking and earning interest-like rewards, which generally conflicts with halal principles related to riba (interest). Similar DeFi projects like AAVE have been classified as not halal due to their involvement in interest-based lending and speculative elements.