It has very simply demonstrated that a token can mean much more than a financial value. This makes Cryptokitties the first real-world simple alternative use to crypto coins and token. Nearly 50,000 cats have been sold and a little over $6.5 million has gone through the Ethereum-based game.Įvery Cryptokitty is a non-divisible Ethereum-based crypto token. Reportedly, the most expensive cat sold to date was worth 246 Ether, or $115.000. This has lead to a serious Cryptokitty market on which the digital cats are traded. Because of their desirability, unique features and the limited supply, the Cryptokitties have been valued by the market. Our inherent but often hidden human desire to collect things was triggered once again and a marketplace arose.
This means that the Adam and Eve of the crypto cats become pretty rare to come by. Because of this, cats are scarce and truly unique.Īssume everyone gets two kittens, and those kittens get kittens. Moreover, each cat has its own unique mathematical identity and can’t be accessed without the private key. Important to know is that there is a limited amount of cats, like a cryptocurrency. The kittens will be even cuter, and so on, until some people can’t resist the urge to spend their Ether on them. Every single cat is unique and you can combine the special features of each cat by letting them breed. Not only does the whole world love cats, but the game is not as dull as it sounds since you can actually breed the cats. So, what do you do with Cryptokitties? Well, you collect pictures of cats. Moreover, Cryptokitties has shown the blockchain space can be used much more than it was intended for. The logic behind the prices of these binary cats actually teaches us a lot about the value of blockchain cryptos and tokens. With people making real Ethereum by selling their precious cats, questions arise as to how these cats can be of any value.
The game launched on November 28, and the number of users has exploded over the weekend. Yes, we’re using the Ethereum blockchain now to enjoy, breed and trade digital cats. It’s the latest buzz in the blockchain world and they are completely different from what you might expect in the crypto space: Cryptokitties.
0 kommentar(er)
