CryptoKitties is a new “game” that uses the Ethereum blockchain that lets you purchase and collect virtual cats. Then you can breed them to try to create new valuable creatures with rare “catributes” (attributes) and sell them for a chunky amount of Ethereum.
Each virtual cat is actually a unique object or “token” on the Etherum blockchain and it’s considered as a real unit of Ether (ETH, or the unit of currency used on the trading platform).
Each virtual cat is coded with a 256-bit genome, which includes sets of visible and genetic features. When two virtual cats breed, their offspring’s appearance, biography and traits will be derivative of the parents attributes resulting in at least four billion possible varations.
CryptoKitties is developed by Axiom Zen in the hopes to make blockchain transactions and technology to be more accessible to casual users. To be honest, this is a really cute and creative way to earn Cryptocurrency.
“Our approach to brand and marketing is, in part, a tongue-in-cheek critique of the ICO market today,” marketing director Elsa Wilk said in their press release.
The game has just launched and it already became the top of all transactions according to ETH Gas Station, a known tracking site for the Ethereum network.
“The CryptoKitties economy is entirely decentralized and impossible for the development team to manipulate,” says Dieter Shirley, CryptoKitties’ Technical Architect. “Anyone on the team with knowledge of the breeding algorithm is prohibited from playing.” Thus making Etherum transactions secure.
On Thursday, November 23rd, CryptoKitties launched its closed beta to 200 early access users. Within three hours, the decentralized app (dApp) was the third most active smart contract on the Ethereum network, accounting for roughly 2% of all Ether transactions.
Since then, over 25 ETH (roughly $11,750 USD) has been used to collect and breed CryptoKitties, and there are roughly 34 CryptoKitties for every early access user.
Would you want to try to earn Cryptocurrency with CryptoKitties? Let us know in the comments. I want to hear your thoughts.