A New Digital Breed of Collectibles
Imagine a world where your cat’s genetic makeup is more than just a fancy family tree—it’s a digital asset! Welcome to CryptoKitties, the Ethereum-based game for cat enthusiasts and crypto fans alike. Launched on November 28, 2017, it’s not just a game; it’s a breeding ground for virtual felines and a phenomenon that has taken the blockchain world by storm.
A $12 Million Meow
On March 21, 2018, CryptoKitties announced a massive $12 million funding round, with notable backers like Andreessen Horowitz and Union Square Ventures. These venture capital giants aren’t just throwing money at digital cats—they’ve previously invested in heavyweights like Coinbase, Facebook, and Twitter. Clearly, they know their tech and their catnip!
Who’s Investing in the Cat Craze?
Besides the big shot VCs, a mix of industry veterans are also investing in this quirky venture:
- Naval Ravikant, founder of AngelList
- Fred Ehrsam, former co-founder of Coinbase
- Bill Tai, Head of Strategy at BitFury
- Mark Pincus, founder of Zynga
With a lineup like this, it’s easy to see why CryptoKitties is purring with potential.
The Blockchain Behind the Cats
CryptoKitties is not just an ethnic cat collector’s dream; it’s a feat of innovation. The game allows users to create and breed unique virtual cats, each stored safely on the Ethereum Blockchain. Users must buy Ethereum to trade these cuties, adding a layer of investment to the fun of feline companionship.
Market Impact: A Furry Fiasco
By December 4, 2017, CryptoKitties became the most significant decentralized application on the Ethereum blockchain, accounting for nearly 14% of Ethereum’s transaction volume. This overwhelming popularity caused network congestion, leaving many users eagerly waiting to get their paws on a digital kitty.
The Growth of Blockchain Gaming
CryptoKitties isn’t alone in this exciting digital landscape. The rise of blockchain gaming has led to a whole collection of titles that leverage the underlying technology:
- Spells of Genesis (on Bitcoin Blockchain)
- Beyond the Void (on Nexium)
A Reddit user named BlockchainGame has curated an impressive list of over 62 blockchain-based games, illustrating just how fur-tunate the gaming landscape is becoming.
Conclusion: CryptoKitties and the Future of Gaming
As both a game and a cultural moment, CryptoKitties has demonstrated that the marriage of blockchain technology and the gaming industry can be a match made in pixelated heaven. It has paved the way for future developments in the space while reminding us that sometimes, it’s okay to indulge in the adorable (even if it’s digitally!). So, who wouldn’t want to play with a blockchain cat?
