Published
5 years ago on
September 11, 2018
“Cats are impossible to understand. They’re ambassadors for pharaohs, memes, and your mom’s facebook page. They don’t discriminate; they despise everyone equally. Cats are perfect killing machines, with retractable claws, night vision, and teeth on their tongue. But cats also nap whenever they feel like it, and we respect that. More than anything, cats are different. They’re weird, funny, and hopelessly entertaining. You don’t have to understand cats to appreciate them.”CryptoKitties have one goal, and it’s a humble one:
“We’re not trying to build the future—we’re trying to have fun with it.”Making the future fun, through the adoption of blockchain technology is a very big thing for the future of this industry. By making the Ethereum blockchain a friendlier place, CryptoKitties is becoming more than just an internet phenomena, it’s becoming a very important cultural symbol for the progression of blockchain technology. CryptoKitties will introduce blockchain technology and Ethereum to the masses. What is CryptoKitties?CryptoKitties is a game based on the Ethereum blockchain that uses the technology to create ‘CryptoKitties’ little cartoon cats that hold a value in Ethereum. Each CryptoKitty is unique and owned by one sole ‘investor’. The kitties represent Ethereum as more than just a currency, they represent Ethereum as a tradeable asset, in a fun world away from the stresses of the finance industry. According to CryptoKitties:
“In CryptoKitties, users collect and breed oh-so-adorable creatures that we call CryptoKitties! Each kitty has a unique genome that defines its appearance and traits. Players can breed their kitties to create new furry friends and unlock rare cattributes. CryptoKitties is one of the world’s first blockchain games. ‘Blockchain’ is the technology that makes things like Bitcoin possible. While CryptoKitties isn’t a digital currency, it does offer the same security: each CryptoKitty is one-of-a-kind and 100% owned by you. It cannot be replicated, taken away, or destroyed.”Is this truly a cultural revolution?Cryptocurrency is a scary place. Figures are hard to quantify and without a true use value for many Ethereum based currencies, it’s hard to get new investors on board. With CryptoKitties though, new investors are given an item, one that can mature and grow and one that they can sell on as a direct result of purchasing Ethereum. It’s encouraging more people to purchase Ethereum but also, it’s teaching them more about the Ethereum blockchain and how blockchain technology in general works. It’s a cultural revolution, because it’s a cultural icon that is getting more people into crypto.According to an analysis carried out by a Reddit user, as it stands there are almost 80,000 people using CryptoKitties, owning around 950,769 CryptoKitties between them. The average price for a Kitty at the moment, is around 0.33 ETH, but with one Kitty up for grabs for a value of 600.00 ETH, the range is huge. This is because of the technology driving CryptoKitties. Each one is unique and therefore, some can be worth far more than others. This allows for a fun, entertaining and slightly addictive gaming format, one that in turn can make investors real money, hence why so many people are using it.According to a report by The Verge, one CryptoKitties user managed to turn around 30 ETH (which was worth around $8,000.00 at the time) into almost $45,000.00 just through the wise trading of his portfolio of Kitties.CryptoKitties is great for the blockchain
“CryptoKitties is one of the world’s first games to be built on blockchain technology—the same breakthrough that makes things like Bitcoin and Ethereum possible. Bitcoin and ether are cryptocurrencies but CryptoKitties are cryptocollectibles. You can buy, sell, or trade your CryptoKitty like it was a traditional collectible, secure in the knowledge that blockchain will track ownership securely.”This is demonstrating an exciting new use for the blockchain, giving Ethereum a new use value and is giving regular people the chance to use a problem that will teach new users about blockchain technology. It’s inspiring investment in Ethereum and overall, it’s fun, secure and it’s a very playable game.Can this be taken seriously?Now of course, many people in the crypto community do find this a little bit laughable. Though it’s appearance is childlike and it’s not very professional, the underlying intentions of CryptoKitties are vital in ensuring the blockchain technology is able to enter the mainstream. Many Ethereum investors do get annoyed that their beloved currency is being spent on digital cats, but, at the end of the day, their currency is being spent and it’s having an impact on value. Therefore, yes, CryptoKitties should be taken seriously, very seriously in fact. Okay, you’ve sold it, how do I play?If you’ve made it this far and really want to start purchasing some CryptoKitties, here’s what you need to do.Ensure you are on a device running Google Chrome or Mozilla Firefox.Set up an Ethereum Wallet; CryptoKitties recommend Metamask, Coinbase or Trust. Purchase some Ethereum. Ensure you install the MetaMask extension. Go to https://www.cryptokitties.co/Click ‘Start meow’ and off you go. Have a pawsome time? References The Verge CryptoKitties Stats Investment Disclaimer
