Aavegotchi Going Big with Bid-to-Earn NFT Auctions

Users who participate in the upcoming auctions for Aavegotchi, have a chance to earn on their bids thanks to the bid-to-earn auction system. Those who see their offer being outbid will earn 1% up to 10% of their original bid paid in GHST tokens.

Aavegotchi, the beloved Polygon-based NFT project, is set to launch their next generation of friendly crypto ghosts via a new auction model called GBM auctions. This bid-to-earn approach actually rewards participants for being outbid, immediately in real-time. In this way, the auction process becomes more gamified with, as the GBM says, “everybody winning.”

Users can participate to score more Aavegotchi GHST tokens, or perhaps simply to win auctions and take home a new Haunt of Aavegotchis. During this upcoming sale there are new ghosts themed after WBTC, WETH, and Polygon. The event takes place at Aavegotchi.com and starts August 26th at10 am EST 2 pm UTC) and completes 72 hours later.

Moving to expand availability, the community-governed project recently voted to issue 15,000 new Aavegotchi NFTs. The first 12,000 of these NFTs will be made available during the auction using the GBM bid-to-earn model. Pixelcraft Studios, the creators of Aavegotchi, has partnered with the GBM team to deliver what will be the largest such NFT auction to date. 

What are you buying 

The Haunt event allows users to buy Aavegotchi Portals, and when opened these randomly generate 10 Aavegotchis. Users can then pick their favorite to summon it, and then the Portal’s metadata transforms into a brand new Aavegotchi. In total 12,000 portals will go for sale.

In addition, there are 36 different wearables up for auction. Complete sets require three pieces, boosting the powers of an Aavegotchi. All Aavegotchis are staked with various yield generating tokens all minted on DeFi platform Aave. These deposits are represented by a variety of Aavegotchi appearances. Because Aave is now deployed alongside Aavegotchi on the Polygon blockchain, this auction marks the first time players can acquire wrapped Bitcoin and Ethereum-themes as well as a new Polygon-styled Aavegotchi. Join the auction on August 26th on Aavegotchi.com.