Everipedia announces Aave (AAVE) investment in a Tamagotchi-inspired NFT game

Everipedia announces Aave (AAVE) investment in a Tamagotchi-inspired NFT game
Written by:
Ali Raza
November 28, 2020
  • Tamagotchi-inspired NFT-based game, Aavegotchi, started attracting a lot of attention.
  • The game, based on Aave protocol, also attracted a significant AAVE investment, as Everipedia reported.
  • The investment went to Singapore-based Pixelcraft Studios, which developed a popular new game.

Tamagotchi was a major hit when it originally came out, and while many newer generations do not even remember the game, the older ones still appreciate it to this day. This is why a Tamagotchi-inspired game developed on Aave’s (AAVE) blockchain, Aavegotchi, started attracting quite a bit of attention recently.

Everipedia announces investment in Aavegotchi

Everipedia used its Twitter account to announce the recent Aave investment two days ago, November 26th. It said that “#AAVE is investing in Pixelcraft Studios, the team behind @aavegotchi, a Tamagotchi inspired NFT collectibles game powered by Aave’s protocol.”

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Pixelcraft Studios is a Singapore-based firm that developed the new Non-Fungible Token (NFT)-based game, which was inspired by Tamagochi. The game, powered by Aave protocol, is also governed with AavegotechDAO, through its token GHST.

This is a new token, which was only launched in September 2020, with a price of $0.8. However, the token showed strong volatility in its first month. At one point, its price surged up to nearly $1, only to be cut by nearly 50% before September ended. Immediately after that, however, the price grew back up to $0.8, and then it dropped to $0.5 once more.

The gaming industry is changing

Aave has been making quite big moves recently, as it also announced a new partnership with a Pokemon-inspired game, Axie Infinity. The game allows players to travel around and collect Axies, which are various fantasy creatures.

Players can also engage in battles, where the winners would be rewarded a certain amount of tokens. Those who own the tokens can also benefit from a special NFT, which comes in the form of a unique character that can be used in the game’s world.

Needless to say, non-fungible tokens are having a strong impact on the gaming industry. They are bringing new features, new possibilities, and adding new twists to the games’ mechanics, which is making more and more people interested into gaming, crypto, as well as blockchain and various types of tokens.