Ethereum CryptoKitties: Everything You Need to Know About Digital Cats
With blockchain tech taking over the financial world, the applications of this trustless systems are just starting to surface, from frameworks for a smart economy like NEO to Insurance decentralized automated organizations like AIGANG, blockchain is proving to be much more than just a store of value.
Now that it’s gaining mass adoption, new industries are playing around with blockchains and one of the industries that are exciting me is gaming.
I got excited when I first heard about Enjin and their ICO launch which claimed to be the be-all-end-all cryptocurrency for everything-gaming and then Decentraland which is essentially a blockchain based Minecraft where you can build and sell assets for MANA.
But the biggest project of all has been the unlikely launch of CryptoKitties, a blockchain based game where you can buy, breed and sell digital cats.
While it might not sound all that exciting, their numbers and user adoption state otherwise.
They’ve sold over $7 million in cats since their launch on 28th November and cats have sold for over $60,000. If that doesn’t say something, I don’t know what will.
Well, our team has done the hard work for spent countless hours, our valuable ethers buying and breeding cats to understand the platform and what makes it appealing.
I must admit this thing is fun. Let’s discuss the nuances of this blockchain based game in detail.
Here’s what we’ll be covering in this article:
- What are CryptoKitties
- What makes them important
- The Team Behind CryptoKitties
- How does the Game work?
- How to Start Playing CryptoKitties
- Can I make Money Playing CryptoKitties?
- CryptoKitties Future Predictions
What are CryptoKitties?
CryptoKitties is one of the first blockchain based games to hit the markets. It’s a marketplace for digital cats where you can buy, breed, sell, hodl or even gift them to your friends in exchange for ether.
As of now, there are over 37,000 crypto kitties available in the market.
What makes them important?
It’s not the game in itself that’s a breakthrough, as impressive as their numbers may be, but the fact that it has been such a successful endeavor signifies something that’s much bigger than the ability to buy digital cats.
It shows the massive possibility that the Blockchain technology holds in our day-to-day life.
BTW here’s a crazy fact. Here’s a cat that sold for over $100,000. It’s beautiful, sure, but a hundred big ones for a digital kitty, that’s crazy.
This game has just created a new asset class of crypto-collectibles.
The Team Behind CryptoKitties
Axiozem is the company behind Cryptokitties and given the idea, execution, and success of Cryptokitties, they sure have a lot of smart cookies working together.
The tech company is known to be Canada’s most innovative companies and have worked with a lot of tech names that we all are familiar with.
How does the Game work?
The game is pretty straightforward. You start by buying a crypto kitty using ether, which then, you can breed with other kitties that either you own or from other users by paying a small breeding fees.
The idea is to breed with kitties that can create unique or super cute kitties which then you can later breed with other kitties or sell to other users using the marketplace.
All cats are asexual so every digital cat can act both as a dad and a mom. However, it can play only one role at a time.
If you’re using the marketplace to find breeding mates, the mom (dame) gets to keep the offspring. However, the sire gets to charge a small fee to offer the second partner for breeding.
You can even breed among your own cats if you own more than one.
Kitties cannot breed when they’re already breeding or are recovering from siring.
How long is the recovering period?
It really depends on the generation of the cat. Younger cats can breed much faster (1 minute – 2 hours) while older cats can take days to breed.
Every cat has their speed mentioned and you can pick and choose as per your liking and their pricing.
How to Start Playing CryptoKitties?
You’ll need two things to start playing Cryptokitties.
- Ether – You can buy these from Coinbase or use local bitcoins to buy bitcoins and then use services like Changelly.com to exchange your bitcoins for ether.
- Metamask browser extension – This is a free download and you can easily create a free account. However, make sure you have your private keys saved and backed-up in a safe location.
Once you have some ether and the extension installed, you’re ready to go.
How much does it cost to buy a Kitty?
There’s no fixed price as users set their own pricing when selling and breeding their cats which really depends on the genetic possibilities and the Generation of every cat.
Sure you can.
If you can breed ultra rare kitties or just ultra cute kitties, they can go for a premium or you can put them up for siring to help others try their luck in breeding premium kitties.
CryptoKitties Future Predictions
I still believe that this just getting started and there’s still a lot of opportunities for early users to get in quick and start breeding a lot of cool kitties.
I don’t really see this as a fad like Pokemon go because people are both emotionally and financially invested in the game and thus it vastly increases the stickiness factor of the game.
Following the sunk cost fallacy, most users will continue to play the game even if there aren’t a lot of new exciting features added just due to the reason that they’ve already invested both time and money into it.
While people seem to be spending a hand and a leg just to be involved in anything blockchain, CryptoKitties is definitely something paying attention to.
If you’re curious about experiencing this newly developing crypto-collectibles market, I’d recommend you sign up for Cryptokitties and see it for yourself.