As someone who has been struggling with kitten addiction for many years, I was immediately attracted to the idea behind the CryptoKitties virtual feline collectibles game – the first game to utilize Ethereum blockchain. CryptoKitties and I are, it seems, an ideal match.
I’ll admit I’m far from an expert in cryptocurrencies and am often skeptical of the current crypto-fever, so I cannot focus intensely on the technological aspect of the phenomenon. It’s the cultural aspect of the CryptoKitty craze that I’m interested in, and here I will present a few key insights that I consider central to the viral success and notoriety of this particular blockchain project.
What the hell are CryptoKitties?
When CryptoKitties emerged in late 2017, no one expected their massive popularity and success. After all, who could have predicted that a digital pet could end up selling for the equivalent of $113,000? Let’s take a look at how this came to be.
CryptoKitties is an Ethereum-based game, which means that each and every transaction in the game is logged and stored in the Ethereum blockchain. In a sense, CryptoKitties are a form of blockchain collectibles, as each of them has a unique “genetic” code and traits – some rarer, more desirable or more expensive than others.
Are you getting Neopets flashbacks already? Well, the developers prefer the comparison to Beanie Babies, the late ’90s fad that had people paying extreme amounts of cash for collectible stuffed animals. However, unlike other collectibles, CryptoKitties have the capacity to breed and produce offspring with new, unique characteristics and traits. I know, I know –it kind of sounds like a digital Beanie Babies puppy mill. Us millennials are the strangest breed of all.
If it also sounds like a pyramid scheme, well, that may be the case. But there was no promise of profits in any of the promotional material or initial discussion of the project. Unlike the countless ICOs of our crypto-hungry era, CryptoKitties does not allude to much more than its name suggests: a blockchain-based game where users buy virtual kittens using Ethereum. As a crypto-kitty buyer, you are essentially purchasing a unique virtual cat, and then by matching it with another one, you get offspring you can collect or sell. The concept is apparently more than enough for the thousands of people who
signed up at the website and submitted their queries for kitty acquisition.
The influx of users and the subsequent amount of micro-transactions resulted in a clogging of the Ethereum blockchain, leading to many failed transactions and raising questions over the scalability of Ethereum. As a result, the media is increasingly paying closer attention to the wild world of cryptocurrencies.
was this sale the marketing trick to raise the awareness about the game and maybe the reason of its popularity?
I like the idea of virtual collectibles but prefer to be able to touch my collection and remove dust once in a while :) I will be watching how long it will last and what new exciting games will be developed inspired by this.