Gamers have hacked different ways to monetize the gaming industry, accumulating $155 billion worth of revenue in 2020. Well, that’s only the beginning because there’s more – blockchain games are now a thing! It started off as a currency takeover, then the Web 1-3, the Universe to Metaverse, and now this! Anyhoo, who can complain with all the incredible possibilities blockchain offers.
Blockchain games are a fun way to earn cryptocurrency while playing games. Cryptokitties is one such game – they are digital cats that you can collect, breed, and sell. They’re also the first major use case of blockchain technology outside of cryptocurrency. Each CryptoKitty is unique and exists as a digital asset on the Ethereum blockchain. That means that anyone can buy, sell, or trade them just like any other cryptocurrency.
Who Founded CryptoKitties?
CryptoKitties were created by a Canadian company called Axiom Zen. The game went live in November 2017 and quickly became one of the most popular decentralized applications (dApps) on the Ethereum network. So far, millions of CryptoKitties have been sold, with some individual kitties sold for 600ETH, generating a total of $40 million in transactions!
CryptoKitties – What Makes This Unique Tech Meow?
Here’s how CryptoKitties work – each CryptoKitty is represented by a unique set of digital genes, which are encoded as an Ethereum smart contract. These genes determine the kitty’s appearance and characteristics. When two CryptoKitties breed, their offspring inherits a random selection of genes from each parent.
This process is similar to how real-world animals inherit genes from their parents. Because each CryptoKitty is unique, some are more valuable than others. The rarer the combination of genes, the more valuable the kitty.
Users can buy, sell, or trade CryptoKitties on a decentralized marketplace called the CryptoKitties Marketplace. This marketplace is powered by the Ethereum blockchain, which means that all transactions are secure and transparent.
How to Get Started With CryptoKitties
If you’re interested in collecting and breeding CryptoKitties, there are a few things you need to know.
First, you’ll need to create an Ethereum wallet. We recommend using MetaMask, which is a free browser extension that allows you to interact with dApps on the Ethereum network.
Once you’ve created your wallet, you’ll need to buy some Ethereum. You can do this on a cryptocurrency exchange like Coinbase or Binance. Once you have Ethereum, you can use it to buy CryptoKitties on the CryptoKitties Marketplace.
Finally, you’ll need to store your CryptoKitties in a safe place. The best way to do this is to use a digital wallet like MetaMask or Coinbase Wallet. These wallets allow you to store your kitties offline, which makes them much less likely to be stolen or lost.
Tips for Buying and Selling CryptoKitties
If you’re interested in buying or selling CryptoKitties, here are a few tips to help you get started:
- When buying a kitty, be sure to check its genes carefully. The rarer the combination of genes, the more valuable the kitty.
- If you’re looking to sell your kitty, the best way to do it is through the CryptoKitties Marketplace. This marketplace is powered by the Ethereum blockchain, which means that all transactions are secure and transparent.
- When selling your kitty, be sure to set a competitive price. You can check the prices of other kitties on the marketplace to get an idea of what your kitty is worth.
- Finally, remember to store your kitties in a safe place. The best way to do this is to use a digital wallet like MetaMask or Coinbase Wallet. These wallets allow you to store your kitties offline, which makes them much less likely to be stolen or lost.
FAQs about CryptoKitties
Q: How are CryptoKitties created?
A: CryptoKitties are created through a process called breeding. When two kitties breed, they produce a new kitty with a random combination of genes from its parents.
Q: What is the value of a CryptoKitty?
A: The value of a CryptoKitty depends on its genes. The rarer the combination of genes, the more valuable the kitty. CryptoKitties can also be valued based on their “attributes,” which are visual characteristics that make each kitty unique.
Q: How do I store my CryptoKitties?
A: The best way to store your CryptoKitties is in a digital wallet like MetaMask or Coinbase Wallet. These wallets allow you to store your kitties offline, which makes them much less likely to be stolen or lost.
Q: What is the future of CryptoKitties?
A: CryptoKitties are one of the most popular dApps on the Ethereum network, and they’re showing no signs of slowing down. In the future, we expect to see more games and applications built on blockchain technology. And who knows? Maybe one day your CryptoKitty will be worth enough to buy a real-life cat!