What will the next CryptoKitties be

CryptoKitties: $ 120,000 for a virtual comic kitten

A virtual comic image of a kitten was recently sold for US $ 120,000 on the CryptoKitties platform. Similar to how Panini stickers are collected, the "Kitties" are also collection items that are bought and sold. But in contrast to soccer picks, the kitties can mate with conspecifics and breed new, unique kittens.

The game CryptoKitties is an application of blockchain technology, on which the cryptocurrency Bitcoin is based. The system calculates a placeholder, a so-called token, for each kitten. CryptoKitties wasn't launched until November. As early as December, five virtual kittens with particularly rare properties were sold for over $ 100,000, the most expensive named Genesis for $ 120,000. According to the "New York Times", the co-founder of CryptoKitties, Mack Flavelle, was surprised by the rapid development. "We thought it would take a few months to build up, but it happened so quickly."

In mid-December the platform had over 150,000 registered users

The unique virtual cartoons cannot be bought with traditional currencies. You need the crypto currency Ether to purchase the tokens. Ether is the currency of the Ethereum network. On the trading platform for cryptocurrencies coinbase, an ether last cost about 610 euros. Ethereum can process transactions much faster than in the clumsy Bitcoin network, one reads in relevant forums. Cat buyers or breeders can expect that their business will be done comparatively quickly. The studio Axiom Zen announced that it has processed transactions of over 15 million dollars on its platform, making it the largest Ethereum-based application. In mid-December the platform had over 150,000 registered users.

CryptoKitties can be purchased on the marketplace provided for this purpose on the website cryptokitties.com. There a brand new crypto cat is offered for sale every 15 minutes. All cats have different characteristics, some of these characteristics are quite common, others, such as a mustache or a vampire outfit, are rare. According to the website, four billion combinations of the cute little animals are possible. In mid-December there were 260,000 kittens. You can also buy cats that have been bred. These arise when users cross two cats with each other. Virtual cats have no gender. The birth fee is between 0.001 and 0.002 ether. The website only increased the fee because of a traffic jam on the platform.

Cats newly generated by the computer currently cost around four ethers, regardless of their characteristics

Cats with special characteristics enjoy greater demand and are accordingly traded at high prices. Cats newly generated by the computer currently cost around four ethers (2,440 euros) regardless of their characteristics. Currently, the most expensive kitties available for purchase on the website cost 999,999 ethers, and the cheapest cost 0.003 ethers.

There is criticism for transactions of this magnitude. Some users try to make money with their kittens. But the cryptocurrencies are increasingly being targeted by financial regulators due to their high volatility. "As long as there are similar games, circles, the demand for cryptocurrencies will continue regardless of price," said Leonhard Weese, President of the Bitcoin Association in Hong Kong, to the APA. These games help cryptocurrencies and blockchain technology to become mainstream, explained the South Tyrolean.

The majority of users see the Kitties as a game that is supposed to be fun. There are now also beauty pageants - the first, on December 27th, was won by a kitty named "Persian Jaguar Sandel". The game should be accessible via a mobile app in spring 2018. Soon there will also be virtual dogs with the CryptoPuppies. The prices at which these are traded has not yet been determined.

skepticism

Many view these games with skepticism. Ethereum founder Vitalik Buterin had opposed this with a comparison to the absurdities of the art market. "Cryptocats are just a reflection of the bigger world," Buterin wrote on Twitter. The Russian-born Canadian linked an article about the auction of a painting by Leonardo da Vinci for half a billion dollars. (APA, December 29, 2017)