Aavegotchi has been one of the pioneering gaming projects in the blockchain space, featuring ways to earn GHST and other crypto coins. But the DeFi-infused ecosystem really caught the attention of the masses with the launch of the Gotchiverse. Aavegotchi combines financial tools with Tamagotchi pets, a bit of Pac-Man and digital land ownership. Here are 5 ways to earn crypto coins with Aavegotchi.
Before we do anything, make sure your Web3 wallet (i.e. Metamask) can connect to the Polygon blockchain. You can learn more about that process here. Also make sure you have some MATIC tokens in your wallet on the Polygon blockchain. You will need this to cover gas fees. Once you have MATIC in your wallet, you can swap it for GHST tokens. This is the native crypto coin for Aavegotchi, one that players use to purchase Aavegotchi NFTs.
In case the concept of Aavegotchi is still a bit vague to you, please consider reading our in-depth article explaining Aavegotchi and its ecosystem in detail. If you get the idea, let’s now learn how you can earn crypto coins in the Aavegotchi ecosystem!
Owning a ghost
The pixelated Aavegotchi ghosts function as a DeFi-powered piggy bank. Users will first need to buy an Aavegotchi from the marketplace, using GHST. Or they summon a new pixel ghost by buying and opening a portal. Depending on the ghost you have, you can put certain tokens in it. In this example you see a Gotchi with USDC stored inside. Interestingly, you earn a few percent interest on these coins as well. So not only are these game characters, but they are also your piggy bank!
On a monthly basis Aavegotchi often sees around $1 million in NFT trading volume on their internal marketplace, the Baazaar. Most of that comes from the sales of Aavegotchi and Portal NFTs. You can see the latest sales activity on the official Aavegotchi dapp page.
So how do you get an Aavegotchi in a few simple steps?
- Connect your wallet to the Polygon blockchain
- Make sure you have MATIC tokens in your wallet
- Swap MATIC for GHST
- Use GHST on the internal marketplace (Baazaar) to purchase an Aavegotchi
Taking care of your ghost
Every Aavegotchi owner can buy wearables from the Baazaar NFT marketplace. These wearables influence the attributes of your ghost. Dressing up also increases the rarity of your Gotchi, which becomes useful during the seasonal rarity farming events. During these events the rarest ghosts can win NFT prizes.
In addition, it’s useful to pet your Aavegotchi ghost every 12 hours. The higher the kinship, the better your Aavegotchi will perform.
So how do you take care of your cute little ghost pet?
- Visit the My Gotchis page on Aavegotchi.com
- Click “pet” every 12 hours
- Your Web3 wallet will initiate a transaction, and you will need to pay a few cents in MATIC. Confirm the transaction.
- Do this consistently and the kinship level of your Aavegotchi will increase.
Liquidity earns you raffle tickets
Aavegotchi is a blockchain game with strong elements of DeFi. This means that the community can support the project by providing liquidity on a decentralized exchange. For Aavegotchi, most of the action takes place on Quickswap, an exchange on the Polygon blockchain. When you stake and lock away your GHST tokens, or stake your liquidity tokens, you can earn Frens. These Frens points allow you to buy raffle tickets, which in turn give you a chance to win very rare game items.
How to earn Frens in Aavegotchi in a few simple steps:
- Buy GHST, and stake it on the staking page.
- Provide liquidity in a variety of liquidity pools on Quickswap. Then stake your LP tokens on the staking page.
- In general, check the staking page. To learn more about DeFi, liquidity providing and staking, please visit our educational content about DeFi.
Note: frens tickets can’t be transferred, but you can transfer and therefore sell raffle tickets on the Baazaar NFT marketplace.
Farming land
Users who own land, can place Installations on their land. These buildings will then fulfill a certain role, for example harvesting resources or storing them. These resources are
4 different tokens: FUD, FOMO, ALPHA and KEK. You will need each of them to craft Installations, and upgrade them. The use of land is still under heavy development, and the team of Pixelcraft Studios keeps pushing out updates.
Things to keep in mind when farming land:
- You need to own land, and space is limited on land.
- Every Installation you install on your land requires a transaction in MATIC.
- Every Installation can be upgraded, which requires FUD, FOMO, ALPHA and KEK tokens (Alchemica resource tokens).
- First upgrade your Aaltar, followed by the Reservoir, and then the Harvester. Each token has a dedicated Reservoir and Harvester that can be purchased using the resource tokens.
- Upgrading comes with an installation time, which players can speed up using GLTR tokens. You earn GLTR by providing liquidity in pools for the Alchemica resource tokens on Quickswap.
Starting without investments
Buying a ghost, land, and Installations can be a costly endeavor, but even without a serious financial investment you can get started in Aavegotchi. When landowners activate their Aaltar, a certain percentage of their rewards drops into the Gotchiverse. Other players can then pick up the FUD, FOMO, ALPHA and KEK as they search the game world.
Aavegotchi features an integrated lending system, allowing players to borrow Aavegotchi NFTs and share some of their rewards with the lender. This creates a system where players can get started earning tokens for as little as a few cents, while heavily invested players can earn passive income by lending out their valuable Aavegotchi ghosts.
Learn more about Aavegotchi lending, or follow these simple steps to get started:
- Connect your wallet to the Polygon blockchain.
- Make sure you have MATIC tokens in your wallet.
- Swap MATIC for GHST, because most lenders require a payment in GHST upfront.
- Now visit the Lending page.
- Pick the Aavegotchi you like, click it to see an overview of the offer.
- Once you agree, accept the terms and confirm the transaction. This requires some MATIC.
- Your borrowed Aavegotchi will be available in your account shortly for a limited amount of time, based on the terms of the lending contract you agreed to.
Closing words
The Aavegotchi team regularly adds new content to their Gotchiverse, introducing new mechanics and activities. Soon the team will reveal the Lickquidators, an evil enemy that will enter the Gotchiverse virtual world. Expect more updates, more DeFi, and more gameplay, as the world of Aavegotchi develops. These interactive piggy banks now generate a source of revenue for involved and active players, truly embracing the spirit of play and earn.
