First there was ‘Tamagotchi’. We called them egg friends. They had a hunger meter, a happy meter and if uncared for, they even died. They were the biggest fad in toys in the late 1999/2000. Now we have Crypto Kitties.
What are Crypto Kitties?
Merging the Buzz of Blockchain with the love of Kittens, a new game has been launched on the said platform. What may seem rather unbelievable to many is that this game has been launched on 28th November 2017. Thats right! It’s not even a month old and it has already made a business profit of $100,000 and counting for its makes ‘Axiom Zen’. Talk about profit. With new kitties made every 15 minutes, they are probably laughing their way to the bank.
Coming back to the original question, Crypto Kitties is a game that is being played on Ethereum platform that allows you to buy, sell, breed and even hodl unique kitties that are ‘born’.
Crypto Kitties are essentially just bits of code on the Blockchain. When two uniques bits of code can be combined or ‘bred’ they in turn create a new and unique bit of code, which creates a new kitty. It bears mention that the kitties so born have features and characteristics of both its parents and at times have awe inspiring visual appeal. Ie. they are cute to look at.
How do they work?
First things first, one needs to set up ‘Metamask’ Ethereum wallet which is used specifically for web Apps and fill it up with a lot of Ether.
Once that is done, you need to log in to the game and then visit its market place to buy kitties! Once bought, you no longer have to worry about ownership issues as the entire game is on the Blockchain and hence every transaction can be traced which deletes any chances of fraud.
Another option is going to the tab of Gen O. a new Kitty is made here every 15 minutes which allows you to choose as per your choice in exchange of your Ether.
Here comes the fun part. You can breed them to make new kitties. Keep in mind, this service is not free. You will need to pay a fee of 0.3028 Ether that will be deducted from your MetaMask wallet.
New kittens can either be kept or sold with high returns. Again, the value of it depends on its visual appeal. The value shall keep on increasing as the demand grows. So it makes sense to hang on to your kittens to sell them later, at a better profit.
They are basically tokens with an avatar of kittens. This manner of trading is increasing on Ethereum’s platform. Hence, the values of the tokens continues to increase and gives profit to all. Crypto Kittens is just the start. The new era of Crypto Collectables is starting and so we suggest you keep your eyes peeled for crypto puppies, or crypto birds or even crypto koi fishes in the future.
Next Read: Blockchain: A Brief Recap