Ethereum ‘CrypoKitties’ Collectibles Are The Beanie Babies of Blockchain

 

It’s a new Blockchain game people are going crazy over. CryptoKitties is a new game from Ethereum which lets users collect and trade digital cats. And since its launch in November, nearly 200,000 users have signed on to mate, create and trade cats all using blockchain-based currency ether.

Get this: People have already spent the equivalent of $6.4 million buying CryptoKitties, with one selling for as much as $114,481.59, according to CNBC.

The game was created by Axiom Zen, based in Vancouver and launched on Thanksgiving with just 200 users. It’s popularity has skyrocketed ever since.

“From a high level, abstract point of view, this stuff is almost digital artwork, if you will. It doesn’t have any inherent value other than what you think it’s worth,” said Joey Krug, co-chief investment officer at Pantera Capital, one of the earliest investors in bitcoin.

To create your own CryptoKitty, you bid to find a mate for one of your existing CryptoKitties, the idea is to “breed” and collect as many as possible. According to the company “each cat is one-of-a-kind and 100% owned by you; it cannot be replicated, taken away or destroyed.”

 

Featured image: CryptoKitties

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