Aavegotchi (GHST)

The exchange rate of one GHST at 14:07 UTC is 1.661$

Chart | Average rate

“Aavegotchi” is an NFT (non-fungible token) game focused on DeFi (decentralized finance). It is hosted on the Ethereum blockchain and is based on the Tamagotchi game, a virtual pet game that became a hit in the 1990s.

Aavegotchi's virtual pets are called “Gotchi” and look like multicolored pixelated ghosts. The longer you interact with your avatar, the more it evolves. Also, the more you upgrade your avatar, the rarer it becomes.

Aside from the game's storyline, Aavegotchi draws attention for its use of NFTs. As with the exclusives market, many believe that the desire to collect rare items also arises in the digital world. And for this reason, NFTs can be valuable as collectibles.

As such, speculation around these non-fungible tokens could cause them to rise in value, bringing in a profit opportunity. Therefore, NFT-listed games like Aavegotchi could represent an alternative investment option.

What is NFT, DeFi and Blockchain?

To really understand what Aavegotchi and its token is and how it works, it is worth understanding each of the terms associated with it. Therefore, below you can see a brief explanation of the concepts of NFT, DeFi and blockchain.

• NFT

It is a digital asset that is registered with a unique certificate that proves its uniqueness. Generally speaking, any asset can be registered in an NFT. For example, music, videos, memes, games and game skins.

• DeFi

It is a financial services ecosystem that aims to make it easier to obtain loans and insurance by eliminating interference from authorities such as banks. As such, Aavegotchi's in-game avatars can be used as bidding collateral.

• Blockchain

Both Aavegotchi and DeFi are stored on the blockchain. This is a database that contains a record of all transactions processed on the network. When users play or send and receive cryptocurrencies, the information is verified and stored in this ecosystem.

What is GHST?

Now that we know what Aavegotchi is and how it works, it's time to learn about the “GHST” token. This is the cryptocurrency of this gaming platform. Like other digital currencies, GHST can be transferred between network users.

GHST is also used to buy and sell gotchi and accessories available during the game. Additionally, GHST is used as a form of reward when users develop their avatars.

Holders of this digital currency can also earn interest depending on the amount accumulated in their wallet. Also, due to its speculative nature, GHST can be considered as an investment option in the cryptocurrency market.