Around 200,000 People are engaging in a New Blockchain Game
A new game associating blockchain with cats, has made its way into the digital world
Blockchain technology is used to build a permanent and transparent ledger system for gathering data on exchanges, real-time tracking of digital transaction and payments, and to prevent frauds and errors. The demand for blockchain is thus increasing, as reported by blockchain market report published by Coherent Market Insights.
CryptoKitties is a blockchain game that allows players to purchase, sell, and breed their own unique CryptoKitties.
When one digital pet mates with another CryptoKitty it produces a kitten with a mix of their genes.
One can either breed their own CryptoKitties or pay another player in order to use their cat as a sire. The currency used in the game is ether, the currency of blockchain-based computing platform Ethereum.
The game launched on November 28, 2017, around 180,000 players have already signed up, and spent a total of $20 million in ether. CNBC reported the digital cats have fetched as much as $114,481.59. An anonymous entrepreneur reported that he acquired a hypothetical net gain of $42,321.15.
That net gain is hypothetical, as cofounder Mack Flavelle says “Nobody’s even pretending it’s going to be a transactional currency anymore. It’s a stored value. You can’t buy a coffee with ether but for a couple bucks now you can get a cat.”
The feline-induced surge in interest has actually caused problems for Ethereum’s website, Business Insider’s Frank Chaparro reported. However, for now, CryptoKitties will continue breeding.
“We’re just like, man, people want cats,” Flavelle told The New York Times. “We thought it would build slowly, take a few months, but it’s been so fast.”
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