Sure – you would have heard the name CryptoKitties before. But, we bet you do not know half of what we have managed to pull together down below. It is all fun stuff, in under two minutes. So let’s get into it?
The product was created when the founders at Axiom Zen thought whether a digital good could be rare? Yes, this means no piracy and no stealing and no replication, also it still had to be tempting enough to be worthy of stealing and taking. Or, in other words, it had to be worthy of its price. Which in this case has been as high as $140,000 for a kitty that was sold in May 2018.
Some say this industry of CryptoCollectibles is set to reach up to break the merchandise records of Disney. It crossed $5 Million after two months of launch in November 2017. And, the company has put a cap on it at 50,000 Kitties, which will be fulfilled in November 2018. Every 15 minutes a new cat is created on the network.
The new Sims are in the Cyber town?
You can do a lot with a kitty. Super similar to your Sim from the simulation game called The Sims, Sim City and what not. But, only this time your Sim is yours, you own the back end coding. Your best friend does not have the same one. It is a collectible card that no one else has. It is not possible to copy it either, so if you have it – nobody else can own it.
You can breed your kitties like other pets, there is a whole universe around it. You can either breed them yourself, or rent them to a peer on the network so they could breed them, you can buy new ones, sell old ones, among so much more that happens on the main game everyday.
The Kitty DNA is original. It is a blockchain code that represents each kitty’s formation, characteristics, history and traits. The cat’s identity and character is based on the code. How fun right.
You can start by choosing the youngest first or cheapest first among other sorting options on the website. Various possible combinations of traits help in mixing up the best kitty. The rarer its traits, the higher its value.
So yes, CryptoKitties is a wild and rich concept with a great ginormous deal of back end working. This means that the product is genius. But, if great minds think alike then why hasn’t any other mind thought of this already. The answer is simple. The problem existed that digital goods were easy to duplicate on the internet. Easy to steal, resell on the black market, upload and download from the pirate networks and torrents for free. Nobody before could envision a way to create a good that was tamper proof and not so easy to steal. Blockchain changed things, and Axiom Zen, found a way to apply the idea to the CryptoCollectible.
They used the Ethereum Blockchain and that uses the Ether currency to buy and sell the collectible i.e. CryptoKitties. Ether is the second largest cryptocurrency after Bitcoin. And, undoubtedly, the biggest ICO and crypto startup launchpad.
So, by purchasing your Cryptokitty, you are buying an asset. Or a collectible. You can sell it to an enthusiast when they are extinct. Or you can keep them as a prized store of glory and fortune for the ages to come. This interesting breakthrough means more and more exciting things are yet to come off of the blockchain tech industry and the creative worlds of the future that this tech holds for us.
Cheers to the good things ahead. *Clink to your kitty* Let us know which one is your favorite! We will tell you ours. *Wink wink*