The blockchain technology has been branching out in various industries. We have seen it expand its roots in banking, music, cyber security, video streaming and even in digital collectibles!
A brief rundown of cryptocollectibles is that engineers have started making digital collectibles on the blockchain technology as they are much safer. One of the first collectible to pop up was Cryptokitties. It’s a game centered around breedable, collectible and tradeable cats. Each cat is your own and cannot be replicated, taken away, or destroyed.
It’s a fun way to earn money and has been quite hip in the cryptomarket. It garnered a wide interest in people in a very short time and had them exploring other crypto possibilities apart from the collectibles.
The way that crypto collectibles work is that they can be bred. Breeding them can lead you to discover a rare cryptokitty which you can sell on the market for a higher price. As cryptokitty fanatics pour their hard-earned crypto funds into breeding, a user hit a real jackpot when he sold his cryptokitty.
At first, the kitty may seem a like a regular cat with brown eyes, pink and black fur, a scaled tail… what? A scaled tail?
Well, you heard it right, apart from cryptokitties looking like regular cats they have some distinctive cattributes to enhance the appeal. Although our richest cat wasn’t something rare on the market, it still got sold for a lot of money.
Brace yourselves because Dragon got sold for a staggering $172,000!
Say hello to Dragon!
This brown-eyed, scaled tail, ninth-generation digital cat, it’s hard to know what the buyer was thinking. With no out of the ordinary characteristics, it had people wondering… WHY? Was it a fat-fingered mistake or did he buy the wrong cat? Or is there something we can’t see? A mysterious user going by the name of Rabono bought the ERC-721 cat for the aforementioned price, making it the most expensive kitty to be ever sold!
We had our doubts that the user simply wanted publicity and recognition which is why they poured – presumably – all their money into this cat. But to pay such a large sum for a short-lived fame doesn’t seem to cut it at all. However, company representatives have speculated that they might have a personal connection with the seller or the cat and maybe they really, really, liked how the cryptokitty looked. Who knows. Although this just goes to show that to earn money it is not necessary for you to breed a rare cat, you never know who might end up liking your simple looking, purry kitty.
No matter what their reasons were, we just hope our crazy cat lady, Rabono, is happy with their decision.
Cat purchases aside, people are hoping the game would make a revival within the next few months. With a 56% decline of active users, the game has seen a real slump across the board. So, will Rabono’s purchase of Dragon a new way to spark interest and bring back the cryptokitties mania? For now, it seems that only time can reveal the future prospects of this company.