One of the founders of DeFi gaming, and now it is called GameFi (not to be confused with cryptogaming), announced a rental system in his game, which is no longer a game at all, but a whole metaverse 🙂 Oh, how!
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Can you do it in order?
Aavegotchi announced a new way to generate passive income for NFT owners and reduce the financial threshold for entering the game - the NFT rental mechanism.
Now in the entire industry there is an influx of new players, which entails an increase in the rarity, and with it the cost, of in-game items. In the case of Aavegotchi, these are Gotchi - NFT ghosts, without which it is impossible to play, which means that each new player will need at least one copy, but the cost for them is growing, and the opportunities for new players to join the game are decreasing.
From December 2nd to December 5th, the second land sale took place in the Gotchiverse universe, which generated additional interest in the game from new players and an increase in the prices of Gotchi.
The most obvious option is to add more of these NFTs to the game, but it is fraught with the fact that many items will lose all their value, which will entail the dissatisfaction of the old players who make up the backbone of the gaming community. Thus, it is required to find a competent solution for scaling the game. This decision was the new rental mechanism from Aavegotchi.
How will this work?
Yes, such a mechanism has already appeared in Axie Infinity, but the Aavegotchi developers have improved the process and now everything happens entirely on the blockchain, minimizing the possibility of deception or error on both sides. Only Splinterlands and NFT Panda: World of Fantasy have a similar solution on the blockchain. The latter are planning to roll out the lease in December this year. But today we will analyze how it works for Aavegotchi, especially since they have good techies.
The whole process will take place entirely on the blockchain, which is one of the main advantages of this approach. You no longer need to rely on trust in other people, the contract will do everything for you.
The NFT owner, who wants to lease his asset, chooses the term, percentage, publicity of the lease and how the resources obtained by the leasing player will be divided between him and the NFT owner. The term is responsible for the duration of the lease, the percentage for how much the player pays for the lease, and the public is responsible for the circle of people who can rent NFT from you under the specified conditions. You can offer your item to the whole world, but only to members of your guild or friends.
A special contract transfers the NFT to the occupying player with partial ownership rights. Thus, he will not be able to steal someone else's NFT, but only use it for a certain time.
What's happened aavegotchi?
Aave is a Finnish word for cast. Aavegotchi is an NFT ghost that has certain features. First, every ghost has financial security for its existence. The owner can “burn” the NFT to obtain this financial security. Also, ghosts have a certain rarity and can wear different NFT items. The owner of the ghost can use it in the game, sell it or "burn" it. In other words, Aavegotchi is a modern cute piggy bank with which you can even play, but obviously not everyone will come in it. You need to understand and get used to the style.
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