Home Blockchain CryptoKitty is the top cat on the blockchain block

CryptoKitty is the top cat on the blockchain block


By Nellie Bowles

SAN FRANCISCO: Joe Buttram, a former mixed martial arts fighter and startup security guard turned cryptocurrency investor, was looking at a new toy called a CryptoKitty.

“You can see he wants to sire,” Buttram, 27, said. For about 20 of the cryptocurrency called ether ($14,000 at the time), the cartoon cat would “mate” with one of Buttram’s, and he would get a new CryptoKitty. That kitty could inherit its father’s desirable eyes (traits include thicccbrowz) or fur pattern (like totesbasic).

Let’s back up
Every new technology gets a game that helps bring it careening into the mainstream. Social networks had FarmVille. Mobile phones had Angry Birds. And, its investors hope, blockchain has Crypto-Kitties.

Blockchain technology like Bitcoin and Ethereum, ledgers for recording virtual currency transactions, is booming, and CryptoKitties is the first big blockchain game. As they did with baseball cards, people collect CryptoKitties, but these cards can breed.

The Ethereum network, whose currency is called ether, is valued at about $70 billion, but not many of the investors really know what their ether can be used to do. And now here’s one thing you can do with it: Ether is the only currency that exists in the CryptoKitties world.

Since CryptoKitties was introduced a month ago, 1,80,000 people have signed up. They’ve spent about $20 million in ether, and more than 10 kitties have sold for over $100,000. Based in Vancouver, British Columbia, CryptoKitties is now a team of 18. Next the company is starting social games like kitty beauty contests and expanding into other “blockchain collectibles.”

This article was curated from Google News. You can read the original article here.


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