CryptoKitties are among the first collectible NFTs to hit the market, and a segment of the cryptocurrency world has continued to be interested in them.
CryptoKitties, built on the Ethereum blockchain, were the forerunners of collectibles such as NBA Top Shot (also by Dapper Labs), CryptoPunks, and Sorare. CryptoKitties was Ethereum’s first official game application, and for a while, it accounted for a significant portion of Ethereum transactions.
Let’s take a closer look at this fascinating topic.
What are CryptoKitties?
Axiom Zen, a Canadian firm, launched CryptoKitties in December 2017. Axiom Zen works on various initiatives, including software development and virtual reality, but CryptoKitties has been one of their most successful to date!
The creators attempted to make an Ethereum game that allowed anybody on the globe to own virtual cats produced by smart contracts. Each cat manufactured is one-of-a-kind, with various colored fur, eyes, and hair!
Different CryptoKitty genders are also available, each named after a male or female horse! For example, a male CryptoKitty is known as a Sire, while females are known as Dames!
Although CryptoKitties is referred to as a game, you can only buy, breed, and sell them.
Some cats are considerably uncommon, and they may fetch a high price. For example, people have spent more than $100,000 for a single cat in certain situations!
Do you remember collecting a pack of Pokémon cards in the hopes of getting a rare card like Charizard? CryptoKitties is similar in that new kittens are produced randomly from a smart contract code when they are formed!
Advancements of CryptoKitties
- Axiom Zen created Cryptokitties in 2017. These virtual cat assets are held on the Ethereum blockchain, which uses smart contracts to allow gamers to buy, collect, breed, and sell their virtual cats. All Cryptokitty transactions are done in Ether because the app was created on the Ethereum network.
- The first Cryptokitty, Genesis, was sold for 246.9255 ETH, valued at around USD 117,712.
- The game was so popular after it was released that it clogged the Ethereum network with so many transactions. Users have already purchased almost USD 1 million worth of virtual pets just a few days after the introduction.
How does CryptoKitties work?
CryptoKitties are Non-Fungible Tokens (NFTs) created using the ERC721 token standard on the Ethereum network. Before the introduction of ERC721, blockchain tokens were fungible or interchangeable; every Bitcoin or Ethereum token is identical to any other. ERC721 enabled the development of non-fungible, one-of-a-kind tokens.
Using smart contracts and ERC721 tokens, CryptoKitties was created to evaluate the notion of digital scarcity.
Each and every CryptoKitty has its digital genome, stored in a smart contract. Any two CryptoKitties can be bred, and an offspring with its distinct features is developed via a genetic algorithm (or “cattributes”). The smart contract’s external appearance, or phenotype, is determined by its unchangeable genotype.
What is the best way to purchase CryptoKitties?
To get started with your CryptoKitty, you’ll need a PC or mobile device, a crypto wallet like MetaMask, and some Ethereum.
All you have to do now is go to the CryptoKitties marketplace, set up an account, choose a cat you like, and hit “buy now.”
You’ll be met with a Dapper transaction window where you may complete your purchase if you have enough ETH in your wallet.
You may also bid on a CryptoKitty that isn’t for sale, but the owner has the final say on whether or not to accept your offer.
What is the best way to breed CryptoKitties?
All you need is a breeding couple to start breeding CryptoKitty; either one can be the Sire or Dame. After breeding, the Sire will need a little restoration period, which will get longer each time they sire. While harboring your new kitten, the Dame will be unable to breed.
Click on one of your Kitties in your litter, then press the “Breed” button that appears; this will be the Sire. Then select a cat to act as Dame and click “OK, give them some privacy” to launch a transaction window, and you’ll have your very own bouncing baby CryptoKitty in no time.
Alternatively, you may breed one of your cats with a public sire for a nominal transaction charge.
The future of CryptoKitties
In addition to raising and purchasing cats, you may now participate in catfights and compete on leader boards in the Cryptokitties (or Kittyverse) universe.
Cryptokitties boosted the popularity of Crypto-collectables, also known as Non-Fungible Tokens (NFTs). People’s understanding of what a blockchain may be used for grew due to Cryptokitties’ immense success and popularity, leading to a rush of comparable crypto-collectibles and digital things that we can trade online.Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.