Crypto is in a bear market right now and not many GameFi projects can survive the down cycle. But one P2E blockchain game, in particular, seems to be thriving at these bearish times. And that’s Aavegotchi, one of the first ERC-721-based NFT games.
Twitter user @Stedari or commonly known as Dr Wagmi gave us a detailed breakdown of how he earns $800 per day playing Aavegotchi. In fact, there are tips for beginners to start playing this game with little to no capital needed. Let’s read on to find out how!
Who is Dr Wagmi and how did he earn $800 per day playing Aavegotchi?
To begin with, Dr Wagmi is a leading proponent of Aavegotchi and the vault manager of Gotchi Vault. Given that, he is also offering scholarship programs to those who are interested to play this game. Without further ado, let’s take a look at how he earns $800 per day from Aavegotchi.
A. Earn $500 of daily basic income from Gotchiverse
Starting from May 18th, everyone who owns a Gotchi avatar can channel 4 types of elements (Gotchus Alchemica) from Gotchiverse, which are FUD, FOMO, ALPHA, and KEK. These Alchemica are ERC-20 tokens available at a fixed quantity on daily basis in the Aavegotchi metaverse, Gotchiverse.
Players can either use these Alchemica to craft and upgrade installations in the game, or trade them for $GHST on Quickswap. For any Gotchi with a kinship score of 50, the daily UBI (universal basic income) will be 20 FUD, 10 FOMO, 5 ALPHA, and 2 KEK. However, players can maximize their yield by increasing Gotchi’s kinship score and leveling up the Altars used to channel these Alchemica.
According to Dr Wagmi, he is currently making $500 per day of basic income from Gotchiverse. To achieve this, he is using 170 Gotchis with a high kinship score (around 500) for the channeling. Plus, he owns 140 land parcels and 30 Aaltars (level 2-3) for his Gotchis to channel every day. This can take up to 2 hours for him to cycle through all of the Gotchis.
But if he doesn’t have the time, Dr Wagmi will usually pay his P2E scholars at 20% of the profit ($50 – $100 per hour) to do the channeling. Sometimes, his family members will help out too! According to Dr Wagmi, Alchemica channeling represents a significant chunk of players’ income in Aavegotchi. So if you’re playing this game, make sure your Gotchis can channel!
B. Earn $100 per day by farming $GLTR in Aavegotchi
Next, you can also earn from Aavegotchi by providing deep liquidity to Alchemica tokens on Quickswap. As a reward, you will earn $GLTR (GAX Liquidity Reward Token) which can be used to speed up crafting times in Gotchiverse.
According to Dr Wagmi, he is earning $100 per day by farming $GLTR. His favorite liquidity pools are the FUD, FOMO, and GLTR pairs. On the other hand, ALPHA and KEK prices are more volatile. Thus, these 2 LP pairs are more susceptible to impermanent loss.
What’s more, Dr Wagmi told NFTevening that $GLTR farming is still yielding more than 300% of APY. And the token price just went up as Aavegotchi has allowed players to use $GLTR to speed up crafting times starting from today. Thus, not only we can earn juicy rewards for being a liquidity provider, but also rest assured that $GLTR prices will keep going up thanks to huge demand.
C. Earn $200 per day through $GHST DeFi
Admittedly, this is a more complex strategy compared to those mentioned above. But how it works is that Dr Wagmi will deposit $GHST for $vGHST in Gotchi Vault. Then deposit $vGHST in QiDao Protocol.
From there, he borrows $MAI tokens against his $vGHST, then deposits $MAI in the Dystopia Exchange to earn more than 20% of APY. Needless to say, this strategy is more suitable for DeFi-savvy users. If you’re not comfortable with DeFi, you can always stick to the first 2 strategies.
How to start earning from Aavegotchi with little to no capital?
Well, that’s the million-dollar question, isn’t it? Since players will earn the most from Alchemica channeling, it’s important to have the right tools first. To channel Alchemica, you will need to have at least these 3 types of NFTs: a Gotchi, a land parcel, and an Altar (equipped to the land).
The best way is to join a native Aavegotchi guild, like what Dr Wagmi had set up so that you can access Gotchis, lands, and Altars for free. If you already own a parcel and an Altar, you can always borrow free Gotchis from other players to start channeling from your own land.
While other players are channeling these Alchemica, some of them may be spilled over to its surroundings. You know what? You can actually collect these spillovers and profit from there.
To do this, just borrow a free Gotchi from other players and glide over the spillovers to collect them. Make sure you claim the Alchemica through one of the wormholes before leaving Gotchiverse (see above). According to Dr Wagmi, his scholars can earn about $5 per hour just by collecting spillovers in Aavegotchi.
If you want to know more about Aavegotchi, feel free to visit its official website and follow its socials for the latest update.
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.