Aave is excited to announce its investment into Pixelcraft Studios, the Singapore-based company developing Aavegotchi — a Tamagotchi-inspired NFT collectibles game powered by the Aave Protocol.
Bridging the DeFi and NFT spaces with DeFi-staked crypto collectibles, Aavegotchi has been rapidly gaining recognition and an active following for their signature pixelated ghost avatars.
Initially funded by an Aave ecosystem grant, Pixelcraft Studios is our first official investment since rebranding from ETHLend in 2018. Back in August, before Aavegotchi launched its eco-governance token GHST, Aave participated in an additional “frens and family” round for equity to support the launch and further align incentives between the two teams.
“Aavegotchi empowers DeFi with NFT collectibles. Essentially Aavegotchi brings new layers of composability within the Ethereum ecosystem. Your past savings experience on Aave unlocks ghost figure collectibles that can be equipped with wearables and consumables. I am positive that after the Aave earning experience, Aavegotchis will spread all over the rest of the DeFi.”- Stani Kulechov, CEO of Aave
To achieve this, Pixelcraft has been rapidly growing the team. Over a dozen staff are now on board and dedicated to achieving a unique, completely on-chain experience. This includes much more than the settlement of transactions, but even features like having all the visual elements of Aavegotchi stored on the blockchain. Yes, all of each Aavegotchi’s art is rendered from data stored directly on the Ethereum Network. It is forward thinking achievements like this that give Aave great confidence in the Pixelcraft Studios team. Aavegotchis could also increase deposits and grow the Aave Protocol’s TVL, thus expanding the Safety Module and bolstering the Aave ecosystem.
“We’re excited and honored to have a powerhouse like Aave formally supporting Aavegotchi. Aave has done an amazing job bringing value and innovation to the DeFi space and we look forward to bringing that same energy into the blockchain gaming space as well,” says Coder Dan, founder and CEO of Pixelcraft Studios.
Aavegotchi is a blockchain game built on Ethereum and powered by DeFi protocol Aave. Aavegotchis are on-chain NFT avatars staked with special yield-generating Aave aTokens (aDAI, aUSDC, aLINK, etc). In addition to its staked collateral value, Aavegotchis also have various unique traits that determine their overall rarity.
Aavegotchi is governed by the AavegotchiDAO via its native eco-governance token GHST.