Market Analysis

Blockchain Gaming P2E Token Analysis – Aavegotchi (GHST).

The emergence of play-to-earn (P2E) gaming coupled with NFTs to provide the first gateway to the Metaverse in 2021, bringing significant advances to the realm of decentralized gaming

Aavegotchi is now breaking into the blockchain-based game market with an innovative approach that incorporates P2E gaming, NFTs, and decentralized financing (Defi).

According to coinmarketcap data, the value of GHST, Aavegotchi’s native token, has climbed 53 percent from hitting a low of $1.56 on Oct. 1, reaching a daily high of $2.33 on 1st November as its 24-hour purchasing and selling amount jumped 45 percent to $135.8 million in past 7 days.

Aavegotchi to USD Chart

Aavegotchi/USD 1 Day Price Chart: Source- coinmarketcap.com

The continuing Gotchiverse property auctions, which need GHST to bid, a number of high-profile collaborations with gaming guilds and hedge funds, and the complete power of the blockchain-based gaming sector are three reasons for the growing value of GHST.

The protocol’s continuing ‘Gotchiverse’ land auctions are the most significant factor in increasing the value of GHST. Holders of GHST and Gotchi are aggressively trying to acquire a “realm” in the venture’s freshly created digital universe built for collecting NFTs.

Bids for land can only be made using GHST, which has placed a lot of pressure on the token’s value and is most likely the reason for the large rise in number and value witnessed on Oct. 18.

The Gotchiverse land public sale will continue through Oct. 31 and will have 16,000 realms in total. Two major gaming guilds announced alliances this week with the goal of expanding the Aavegotchi platform.

A relationship with Blackpool, a quantitative hedge fund for NFTs, as well as a collaboration with Yield Guild Games (YGG), which invested $800,000 in Aavegotchi, are among the new collaborations.

Throughout the current bull market, the concept of the Metaverse has been a hot topic of discussion, and many experts believe that play-to-earn and blockchain-based games will be the top performers in 2022.

As shown in the graph above, gaming tokens have enjoyed significant value appreciation in 2021, led by Axie Infinity (AXS), which has increased by more than 25,000 percent.

Aavegotchi is following in the footsteps of AXS, which began with the release of its NFT characters before gradually expanding its gameplay over time.

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