CryptoKitties: What’s behind the new hype?

Virtual Cats on the Blockchain: This application is currently enjoying big popularity, making it one of the fastest growing cryptographic phenomen. But what makes the CryptoKitties so special? We’ll take a closer look at what’s behind it.

They are reminiscent of a mixture of the trading cards Pokemon and Sims: CryptoKitties. These virtual digital kittens are the protagonists of the Ethereum Blockchain game of the same name . It is one of the world’s first games to run with the help of a Blockchain, and finds itself in a kind of pioneering role again.

The principle behind it is very simple. So you can buy CryptoKitties on a specially created online platform and resell any. The transactions made by the CryptoKitties are noted on the Blockchain so that the owner can be identified at any time. Each kitten is uniquely designed and is 100% owned by a user.

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There is actually creative way in which the CryptoKitties appreciation mechanism works. So the kittens are all capable of mating and willing and are therefore also good for breeding new CryptoKitties. If you own two or more of these creatures, you can always produce offspring. These new CryptoKitties are – like their parents – genetically unique and belong from then on also to the owner.

In the first week, the game is already enjoying great popularity. Currently , the market capitalization isaround $ 2.7 million, with individual prices per crypto-kitty in contrast to cryptocurrencies – vary widely. The Genesis kitten, with about 247 ethers (about $ 117,000), is still the most expensive traded, while the market value of most newborns at about the equivalent of half a dollar.

Are the cute kittens an application that should be remembered for the future? The principle behind it is at least interesting and could be a helpful supplement for crypto currencies. However, it remains to be seen to what extent cryptographic objects will be used outside their role within a game.

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