If you have been assuming that crypto is all about the money then its time to crawl out from under the rock. Crypto and blockchain are rapidly expanding their realm and people are experimenting a lot more with the power that it has provided to its users. Introducing yet another interesting innovation from the crypto market; cryptocollectibles!
Collectibles have been around for a really long time. Back in the day, they were given away when a consumer purchased another product to increase repeat purchase; a clever marketing strategy.
Up until the advent of blockchain, having digital collectibles wasn’t easy because of problems of ownership. They were too easy to copy!
When blockchain ensured that no one could copy because every information is documented on each computer, people started playing around. CryptoKitties was one of the cool things to come out of this technology. We assure you these collectibles are much cuter than they sound.
How do they work?
They are just like another collectible which you can buy, trade, sell, collect like the traditional ones. But what makes them distinctive is that you can breed them and it will result in a unique offspring – just like real life cats!
You can buy and sell them in the marketplace. But can one earn real $$$ by playing this game?
Before we answer this question, it’s important for you to know that CryptoKitties are NOT cryptocurrencies. However, they do have similar attributes. To make things simpler, cryptocurrencies are like USD and GBP whereas CryptoKitties/Cryptocollectibles are like a unique artwork that you own.
Now, on to the money business. You can make real cash from CryptoKitties through trading just like you trade cryptocurrency. You can either start breeding them to make a unique CryptoKitty to later sell it in the marketplace at your desired price and make profits. Or, you can buy these adorable kitties, hold them and sell them later for a good price.
You might be wondering if anyone even pays for these virtual kitties, but remember, if your kitty has a unique appeal then it will attract enough buyers. CryptoKitties of worth $4 million has already been sold. You might want to check out the market to see for yourself how real it all is.
It all does sound exciting and a very fascinating way to earn money. Moreover, these furry buddies are extremely lovable but you need to remember, at the end of the day they are just assets. If you’re not a cat person then be sure to check out other cryptocollectibles like Tron Dogs and CryptoPuppies. We are sure to see other forms of collectibles that you can own with a purchase of an item, like traditional collectibles, only now they will be digital and harder to copy. So go find your pet type and start raising them. Till then