The World Goes Crazy Because Raising Virtual Cats Earns Real Money with CryptoKitties

This article examines World Goes Crazy Because Raising Virtual Cats Earns Real Money with CryptoKitties. It presents the main facts, practical implications, and key points in a clearer, easier-to-follow format.

Understanding World Goes Crazy Because Raising Virtual Cats Earns Real Money with

CryptoKitties is a new game just released last week but has driven the virtual money market crazy, many players spend thousands of dollars ether to trade, exchange these digital cats. The game was so hot that it blocked the Ethereum network, accounting for nearly 15% of transactions on the Ethereum network, while on December 2, it accounted for only 4%.

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Built by AxiomZen, the CryptoKitties game allows users to trade, exchange, raise and propagate virtual cats. Each cat has its own characteristics, none of them look like any other and there are traits that can be inherited. Some rare features make everyone try to find the game's algorithm to feed their cats with these characteristics.

Feed virtual cats for real money

Currently the easiest way is to use the MetaMask utility on the Chrome browser. https://metamask.io/ to send and receive ETH directly, then visit the CryptoKitties page. https://www.cryptokitties.co/ to purchase selling, exchanging and raising cats.

Not just for fun, these virtual cats actually make money. They are as valuable as bitcoins (or an ether unit) and do not have a separate storage center. Which means that even if the creator disappears, the cats are still there, like a real asset.

The price of cats also increased dramatically. The most expensive cat on snoring 2/12 is worth $5000. On the same day, it was sold for $117,000. Many other cats are also traded at 5-digit prices. This is the top 5 most valuable cats, according to data from Crypto Kitty Sales.

Virtual cats are the most valuable

Network blocking has caused game developers to increase prices, making virtual cats even more attractive to those who dug virtual money. According to the Crypto Kitty Sales, about $2.7 million was traded in the CryptoKitties market within the first 6 days it launched. By December 4, the number of players was 6,600.

CryptoKitties are also capable of attracting players who are not interested in virtual money. Product Hunt's Ryan Hoover said that the game is similar to Pokemon on the Ethereum blockchain.

The Ethereum transaction number must wait after the CryptoKitties release.

Trading these virtual cats can also help implement ICO, which is basically a promise to build technology that helps support transactions. Investors give virtual money to ICO issuers, while ICO issues tokens for investors to trade. Many users join the system, the higher the value of the token.

See also: How to catch Pokemon rare in Pokemon GO.

Maybe CryptoKitties has no big ambitions like previous virtual money projects, but thanks to both fun and easy-to-participate mechanisms, it may be closer to these ambitions.