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People Have Spent Over $1m Buying Virtual Cats On The Ethereum Blockchain

People Have Spent Over $1m Buying Virtual Cats On The Ethereum Blockchain

People have spent over $1M buying virtual cats on the Ethereum blockchain Launched a few days ago, CryptoKitties is essentially like an digital version of Pokemon cards but based on the Ethereum blockchain.And like most viral sensations that catch on in the tech world, its blowing up fast. Built by Vancouver and San Francisco-based design studio AxiomZen , the game is the latest fad in the world of cryptocurrency and probably soon tech in general. People are spending a crazy amount of real money on the game. So far about $1.3M has been transacted , with multiple kittens selling for ~50 ETH (around $23,000) and the genesis kitten being sold for a record ~246 ETH (around $113,000). This third party site tracks the largest purchases made to date on the game. And like any good viral sensation prices are rising and fluctuating fast. Right now it will cost you about .03 ETH, or $12 to buy the least expensive kitten in the game. So now we have people using Ether, an asset with arguably little tangible utility to purchase an asset with unarguably zero tangible utility. Welcome to the internet in 2017. In all seriousness, its a little bit reminiscent of the beanie baby trend where people were paying insane amounts of money for stuffed animals. But if the popularity continues to increase these people may be able to make a return by reselling or breeding their rare kittens, or theyll be stuck holding the virtual cryptographic keys to a virtual rare kitten when the market crashes in a few day, like eventually happened with beanie babies. There are a few cool things about the game though, and putting aside the valuation absurdity its actually a cool way for beginners to interact with the Ethereum blockchain. First off, its important to understand that since its played on the Ethere Continue reading >>

Cryptokitties Isnt As Popular As You Think It Is

Cryptokitties Isnt As Popular As You Think It Is

CryptoKitties Isnt as Popular as You Think It Is Join our community of 10 000 traders on Hacked.com for just $39 per month. Heres a question. How many active users does CryptoKitties, one of the most well-known decentralized Ethereum applications (DApps), have? The answer is probably a lot less than you think. The game, originally created by Canada-based venture studio Axiom Zen, burst onto the DApp scene last year, and in almost no time at all the game was drawing headlines both for the prices that users were willing to pay to acquire these cute crypto-collectibles in some cases more than $100,000 per cat and for the fact that CryptoKitties-related transactions had single-handedly clogged the Ethereum blockchain. Last month, CryptoKitties raised $12 million in a Series A round led by Andreessen Horowitz and Union Square Ventures (USV), with USV co-founder Fred Wilson declaring that crypto-collectibles represent the first big consumer use cases for blockchain technologies. However, as venture capital firm Greylock Partners notes in its latest State of the DApps report, the number of active DApp users is shockingly low, even for high-profile games like CryptoKitties. Citing data from DappRadar , Greylock community lead Chris McCann reports that CryptoKitties has fewer than 1,000 daily active users. Granted, interest has sharply declined over the past few months, but he estimates that even at its peak the DApp likely only had about 14,000 daily users. Neopets, a game to which CryptoKitties is often compared, once had as many as 35 million users. Nor have any other DApps emerged as stand-out platforms. IDEX, a decentralized ERC20 token exchange (DEX), has 3,600 active users, making it the most widely-used DApp, while fellow DEX Fork Delta boasts 2,900. The most popular bl Continue reading >>

Nba Superstar Stephen Curry Inks Deal To Release His Own Cryptokitties

Nba Superstar Stephen Curry Inks Deal To Release His Own Cryptokitties

NBA Superstar Stephen Curry Inks Deal to Release His Own CryptoKitties NBA superstar Stephen Curry has inked a deal that will see him become the first celebrity to get the CryptoKitty treatment. The partnership, which was struck through Moji Currys emoji app development company will see the Golden State Warriors point guard release a series of three exclusive CryptoKitties modeled after his likeness. Stephen is the perfect partner to try out this new kind of Kitty, said Mack Flavelle, co-founder of CryptoKitties. Hes an incredible athlete, but also has a deep interest in technology and innovation. The first CurryKitty named Steph Fur Three went up for auction on Monday, and the final purchase price could rival the six-figure sales seen in mid-December at the height of CryptoKittiy mania. This particular cats biography focuses on Currys athletic achievements, while another Chef Furry focuses on his budding culinary process. Hi! Im Chef Furry! You might know me as a two-time MVP on the court, but Im also runner up for MVP in the kitchen (I share the kitchen with my partner and she keeps me humble), his biography reads. Can you guess what my favourite dish is? If you said curry, paws for a second and ask yourself if Ive heard that one before. If you said my ladys chicken parm, get out of my head! CryptoKitties allows users to buy, sell, and breed digital cats, and it runs on the Ethereum blockchain as a decentralized application (DApp). Cats are structured as ERC-721 tokens, which are non-fungible and built to represent unique assets. The game which was originally created by Canada-based development studio Axiom Zen recently spun off into its own venture after raising $12 million in a Series A funding round. Though lauded for their potential, this promise has yet to trans Continue reading >>

Kittyrace Is The New Craze Among Cryptokitties Owners Quartz

Kittyrace Is The New Craze Among Cryptokitties Owners Quartz

The CrypoKitties game took the ethereum world by storm last December, as eager players bought and sold the cutesy virtual creatures for tens of thousands of dollars. The cartoon cats were really just representations of digital tokens on the ethereum blockchain, meaning they could exist independently of their creators, the Canadian studio Axiom Zen. The fact that CryptoKitties exist independently on a blockchain also means that any developer is free to write programs for them. Thats just what one firm has done with a game called KittyRace . Holders of CryptoKitties enter their pets to race against others, set against a thumping soundtrack of TRON-esque electronic music. Competitors must pay an entry feein ether, naturallyto participate. The race is won by the cat that possesses certain desirable traits (cattributes), the timing of its entry to the race course, and an element of chance. The winning cat takes the pot of entry fees as a reward after some is deducted for ethereums miners, who supply the computational resources to run the app. The remarkable thing about KittyRace is that its creators have nothing to do with Axiom Zen, apart from being CryptoKitties fans. No royalties or licensing fees are paid, and no partnerships were struck. We didnt speak with Axiom Zen prior to building KittyRace, says Charley Hine, who runs KittyRaces maker, a firm called Endless Nameless, with Eugene Otto. This sort of permissionless development, in crypto parlance, underlines the benefits of blockchain-based assets. With no central authority controlling property rights, developers are free to create new activities for CryptoKitty owners. KittyRace is currently played on a web browser; players must install an ethereum wallet, such as MetaMask, to access it. Go to KittyRaces website wit Continue reading >>

Cryptokitties Wins $12 Million From Investors, Including Early Facebook Believer Andreessen Horowitz

Cryptokitties Wins $12 Million From Investors, Including Early Facebook Believer Andreessen Horowitz

Yes, the game that some considered a quintessential example of the Bitcoin bubble, CryptoKitties, has received $12 million in funding from investors led by venture capital firm Andreessen Horowitz and Union Square Ventures. On Tuesday, CryptoKitties revealed that it would spin out of its developer, Axiom Zen, and had raised $12 million in a Series A funding round led by the early Facebook investor (Andreessen Horowitz) and early Twitter believer (Union Square). Both are experienced investors in the crypto space both having a stake in cryptocurrency exchange Coinbase. Upon its release on Nov. 28., CryptoKitties explosive popularity confounded many. The game lets users create and breed virtual cats , storing the digital genetic material on the blockchain as new generations of kitties are created. Then, in turn, users can buy and sell the cats using the cryptocurrency Ethereum, which means users have to buy Ethereum in order to play. While neither Union Square nor Andreessen Horowitz have disclosed a direct stake in Ethereum, they are invested in funds that do . On its webpage, Union Square calls CryptoKitties the worlds first and most successful consumer blockchain product. At Union Square Venture, we think digital collectibles is one of many amazing things that blockchains enable that literally could not be done before this technology emerged, wrote Fred Wilson, partner at the firm, explaining the thinking behind the investment . We also think digital collectibles and all of the games they enable will be one of the first, if not the first, big consumer use cases for blockchain technologies. An executive at CryptoKitties also sees the game as a way to get new consumers into blockchain. We really do believe that decentralization is going to have a dramatic and powerful im Continue reading >>

This Man Has Made More Money Trading Cryptokitties Than Investing In His Ira

This Man Has Made More Money Trading Cryptokitties Than Investing In His Ira

This man has made more money trading cryptokitties than investing in his IRA CryptoKitties, a game where users breed and trade digital kitties using Ethereum-based smart contracts, has emerged as the latest mark of societys obsession with rising cryptocurrency values. In some ways, the popularity of the game reflects the skyrocketing values of digital currencies like Bitcoin and Ether. Total sales on the platform created by Canadian startup Axiom Zen have reportedly hit $12 million, according to Coin Telegraph , as some cats with rare attributes have been sold for upwards of $80,000 . Cryptokitties are generated by code, and bred by spending Ether tokens on smart contracts that use two base cats to create a new one. Each resulting cat is unique and persistent, recorded on Ethereums public ledger. While the game has proven wildly popular, CryptoKitties has also been plagued by network slowdowns, little game progression and automated bots that snipe deals. Its also placing a new load on the currency itself. The game has slowed down the Ethereum network by as much as 11 percent, Motherboard reported last week. But as the first successful game built on the Ethereum network, CryptoKitties success has hinted at the greater potential of apps powered by blockchain technology and given rise to a new wave of cryptocurrency speculation. Like Bitcoin and Ethereum, CryptoKitties allowed speculators to make a lot of money if they got in at the right time. One of those speculators is Todd, who wished to remain anonymous in order to disclose personal financial details. While we talked, the CryptoKitties site dipped in and out of commission. Todd is a 30-year-old entrepreneur and software designer from Austin, Texas. Hes also been the owner of 35 cryptokitties , an extension of his bro Continue reading >>

After Cryptokitties, The 'cryptocollectibles' Business Is Booming

After Cryptokitties, The 'cryptocollectibles' Business Is Booming

After CryptoKitties, the 'Cryptocollectibles' Business Is Booming People are spending cryptocurrency on everything from virtual pandas to tulipsseriously, you have no idea. Kitties, puppies, pandas, bunnies, and tiny monstersthis is not a list of the Beanie Babies that still live in my parents attic; it describes the various blockchain-based collectibles people have already spent millions of dollars buying. The idea of collecting virtual items tied to blockchain networks that ensure uniqueness and transparently track ownership isnt new. Developer Joe Looney created the Rare Pepe Wallet in 2016a platform where people can purchase tokens representing virtual trading cards featuring variations of artist Matt Furies original green frog meme on the Bitcoin blockchain. However, it took CryptoKitties debut in late November of 2017 to turn this concept into both a game that was accessible to more than just your average cryptocurrency nerd, and a major moneymaker. Today, the more expensive kitties continue to sell for the equivalent of over $300,000 USD. In total, more than $23 million worth of ether , the Ethereum blockchains currency, has been spent on CryptoKitties. Recently, the game studio that created them, Vancouver-based Axiom Zen, raised $12 million in venture capital funding. Many of these newcomers are resembling casino games a bit Since then, a number of other developers from all over the world has created their own blockchain-based collectibles, and a bunch of cryptocollectibles that resemble CryptoKittiessome blatantlyare trying to cash in on the fad. Many of them started development mere days after CryptoKitties launched, and even major companies like Baidu and Xiaomi in China have jumped on board. No fewer than two cryptocollectible games have players trading tu Continue reading >>

Nba Superstar Steph Curry Is Now The First Celebrity Cryptokitty

Nba Superstar Steph Curry Is Now The First Celebrity Cryptokitty

NBA Superstar Steph Curry Is Now the First Celebrity CryptoKitty May 7, 2018 at 08:00 UTC |UpdatedMay 7, 2018 at 17:48 UTC Golden State Warriors star Stephen Curry is getting his own CryptoKitty. More precisely, Curry will be launching the first-ever celebrity-branded CryptoKitty, said Caty Tedman, head of partnerships for the startup behind the tokenized digital cats . The move is part of an effort to expand the collectibles app by adding branded tokens, which may extend beyond celebrities and include other popular icons. "We are launching a series of Steph Curry CryptoKitties, so there will be three exclusive Steph Curry CryptoKitties [which] will be representative of his personalities," she told CoinDesk. "The first will be sold by him, and it'll be up to him whether he wants to sell the other two." Moji, Curry's emoji app development company, approached the CryptoKitties team, Tedman said. Working with him was "not an off-the-cuff idea," said co-founder Bryce Bladon. Curry "really cares about his fans and that's what we look for," he said. But partnering with Curry means more than just adding a celebrity to the platform. "Introducing CryptoKitties, and by extension blockchain technology to other audiences and showcasing crypto outside of currency, that's our primary motivation," Bladon said, adding: "Part of why we're doing is this very much in line with why we want CryptoKitties in the first place - we've got an actual opportunity to innovate and the past few months we've been hiring new talent and ...What makes it exciting is those moments, official endorsements and being partnered with something, to have an actual example of what that'll look like on the blockchain." "In a lot of ways CryptoKitties is a stepping stone into the space. It's a great place to test I Continue reading >>

Cryptokitties, Explained ... Mostly

Cryptokitties, Explained ... Mostly

Cassandra Shi, center, talks with other guests during a Crypto Christmas Party at Mr. Tipple's Recording Studio in San Francisco. Credit Jason Henry for The New York Times SAN FRANCISCO Joe Buttram, a former mixed martial arts fighter and start-up security guard turned cryptocurrency investor, was looking at a new toy called a CryptoKitty. You can see he wants to sire, Mr. Buttram, 27, said. For about 20 of the cryptocurrency called ether ($14,000 at the time), the cartoon cat would mate with one of Mr. Buttrams, and he would get a new CryptoKitty. That kitty could inherit its fathers desirable eyes (traits include thicccbrowz) or fur pattern (like totesbasic). Every new technology gets a game that helps bring it careening into the mainstream. Social networks had FarmVille. Mobile phones had Angry Birds. And, its investors hope, blockchain has CryptoKitties . Blockchain technology like Bitcoin and Ethereum, ledgers for recording virtual currency transactions, is booming, and CryptoKitties is the first big blockchain game. As they did with baseball cards, people collect CryptoKitties, but these cards can breed. The Ethereum network, whose currency is called ether, is valued at about $70 billion, but not many of the investors really know what their ether can be used to do. And now heres one thing you can do with it: Ether is the only currency that exists in the CryptoKitties world. Since CryptoKitties was introduced a month ago, 180,000 people have signed up. Theyve spent about $20 million in ether, and more than 10 kitties have sold for over $100,000. Based in Vancouver, British Columbia, CryptoKitties is now a team of 18. Next the company is starting social games like kitty beauty contests and expanding into other blockchain collectibles. Were just like, man, people wa Continue reading >>

Warriors' Steph Curry Will Auction Off Celebrity Cryptokitties | Gamesbeat

Warriors' Steph Curry Will Auction Off Celebrity Cryptokitties | Gamesbeat

CryptoKitties took off with its cute blockchain-based collectible kittens last fall. Now, it is bringing sports celebrities into mix, starting with collectibles from Golden State Warriors star basketball player Stephen Curry. The first-ever celebrity-branded CryptoKitty will go up for auction today.CryptoKittiesbecame a sensation after it debuted in November as a collectible game built on top of a blockchain and the Ethereum cryptocurrency. In March, the CryptoKitties maker, Axiom Zen game studio, spun out as a separate company and raised $12 million in funding fromAndreessen Horowitz and Union Square Ventures. The Curry kitties will probably draw a lot of attention. As of March,CryptoKitties had gained more than 1.5 million users who had conducted more than $40 million in transactions. Some of the games most popular cats have sold for the equivalent of more than $200,000. Axiom Zen said that a giveaway of 10 CryptoKitties will take place in celebration of the partnership with Curry and AppMoji .The idea behind Ethereum-based CryptoKitties is to make blockchain technology accessible and relevant to everyday consumers. Blockchain is the transparent and secure decentralized ledger system behind cryptocurrencies, such as Ethereum and Bitcoin. It can verify that a digital image or file is authentic and is the sole copy. Curry is putting up the first of his three special-edition CryptoKitties up for auction today. Stephen is theperfect partner to try out this new kind of Kitty, said Mack Flavelle, cofounder ofCryptoKitties, in a statement. Hes an incredible athlete but also has a deep interest in technology andinnovation. Curry is active in the tech world and is the first celebrity athlete to partner with ablockchain-based game through his involvement with AppMoji, which cr Continue reading >>

Stephen Curry Is The First Celebrity Endorsement For Cryptokitties Ethereum Dapp

Stephen Curry Is The First Celebrity Endorsement For Cryptokitties Ethereum Dapp

Stephen Curry Is The First Celebrity Endorsement For CryptoKitties Ethereum dApp Share on Facebook Share on Twitter Share on Telegram Share on LinkedIn Since fall of 2017, CryptoKitties has gained international renown as a fad and media vehicle for exposing cryptocurrency to the mainstream. Now, the famed crypto-cat Ethereum dApp isready for another swish by partnering with NBA All-Star and two-time MVP Golden State Warriors superstar, Stephen Curry. Based on the Ethereum blockchain, CryptoKitties is a decentralized application (dApp) that allows users to breed and exchange collectible digital cats classified as ERC-271 tokens. The digital cats are considered tokenized digital assets and are unique and non-fungible due to the decentralization and immutability of the Ethereum blockchain. According to VentureBeat , CryptoKitties gained 1.5 million users and conducted more than $40 million in transactions since March of this year. Expanding on the element of collectibility, CryptoKitties is set to release three celebrity-branded CryptoKitties modeled after Steph Currys likeness CurryKitty, Chef Furry, and Steph Fur Three. Through a partnership with his emoji development company, Moji, Steph Curry was able tolaunch the first-ever celebrity-branded CryptoKitty (nicknamed Steph Fur Three) on Monday, May 7. Stephen Curry, two-time MVP, NBA All-Star and Golden State Warriors superstar As a public figure and tech enthusiast, Curry made for a fitting celebrity to test their branded digital assets and decentralized applications. In an interview with VentureBeat , co-founder ofCryptoKitties, Mack Flavelle said: Stephen is theperfect partner to try out this new kind of Kitty. Hes an incredible athlete but also has a deep interest in technology andinnovation. As a gamified platform Continue reading >>

How We Made $100k Trading Cryptokitties

How We Made $100k Trading Cryptokitties

Founder Cat #4, the main protagonist of thestory. By now everyone has heard of CryptoKitties, a cute game that went viral to the point of overloading the whole Ethereum network. This is the inside story behind how we made $107K investing in CryptoKitties and briefly set the record for the largest sale ever (currently second-largest). Later, we made ~$8K running an automated arbitrage bot. While playing the speculation game at the height of the mania was exciting, the bot was fairly technically involved and will be interesting to people who want to learn blockchain engineering in general. As I was toying with my Ethereum smart contracts on a regular Saturday night (December 2), something was clearly off: transactions were stuck and took much longer than usual to confirm. A quick investigation showed there were 1020 times more pending transactions than usual, and many of them were going to the same mysterious address, 0x06012..66d . This is how I first learned of the now-famous CryptoKitties game. Next morning I called Oleg, a close buddy who runs a top crypto hedge fund in Russia to discuss this unusual phenomenon. While the CryptoKitties game was merely a curiosity for me, Oleg immediately spotted a lucrative investment opportunity. First, we were clearly among the earlier entrants. Second, the game looked like it had all the precursors of going viral, similar to Pokemon Go, and was in the early stage of a hockey stick explosion. Now the question was, which Kitties should we buy? The marketplace offered 4 ways to sort Kitties: cheapest first, most expensive first, newest first, oldest first (note: the website had been redesigned since). The first 3 options are clearly transient: you can always put a cheaper, more expensive, or a newer Kitty on the market. Oldest, howev Continue reading >>

Nba Superstar Stephen Curry Inks Deal To Release His Own Cryptokitties

Nba Superstar Stephen Curry Inks Deal To Release His Own Cryptokitties

NBA Superstar Stephen Curry Inks Deal to Release His Own CryptoKitties Join our community of 10 000 traders on Hacked.com for just $39 per month. NBA superstar Stephen Curry has inked a deal that will see him become the first celebrity to get the CryptoKitty treatment. The partnership, which was struck through Moji Currys emoji app development company will see the Golden State Warriors point guard release a series of three exclusive CryptoKitties modeled after his likeness. Stephen is the perfect partner to try out this new kind of Kitty, said Mack Flavelle, co-founder of CryptoKitties. Hes an incredible athlete, but also has a deep interest in technology and innovation. The first CurryKitty named Steph Fur Three went up for auction on Monday, and the final purchase price could rival the six-figure sales seen in mid-December at the height of CryptoKittiy mania. This particular cats biography focuses on Currys athletic achievements, while another Chef Furry focuses on his budding culinary process. Hi! Im Chef Furry! You might know me as a two-time MVP on the court, but Im also runner up for MVP in the kitchen (I share the kitchen with my partner and she keeps me humble), his biography reads. Can you guess what my favourite dish is? If you said curry, paws for a second and ask yourself if Ive heard that one before. If you said my ladys chicken parm, get out of my head! CryptoKitties allows users to buy, sell, and breed digital cats, and it runs on the Ethereum blockchain as a decentralized application (DApp). Cats are structured as ERC-721 tokens, which are non-fungible and built to represent unique assets. The game which was originally created by Canada-based development studio Axiom Zen recently spun off into its own venture after raising $12 million in a Series A fund Continue reading >>

Cryptokitties - Wikipedia

Cryptokitties - Wikipedia

CryptoKitties is a blockchain based virtual game developed by Axiom Zen that allows players to purchase, collect, breed and sell various types of virtual cats. It represents one of the earliest attempts to deploy blockchain technology for recreational and leisurely purposes. [1] The game's popularity in December 2017 congested the Ethereum network, causing for it to reach an all-time high in transactions and slow down significantly. [2] On March 20, 2018, it was announced that CryptoKitties would be spun off into its own company and raised $12 million from several top venture capital firms and angel investors. The investment round was led by New York based Union Square Ventures and San Francisco based Andreessen Horowitz . [3] [4] [5] Whereas CryptoKitties is not a cryptocurrency , it operates on Ethereum s underlying blockchain network, which offers something similar. Each CryptoKitty is unique and owned by the user, validated through the blockchain, and its value can appreciate or depreciate based on the market. CryptoKitties cannot be replicated, taken away, or destroyed. Users can interact with their CryptoKitties, having the ability to buy, sell, and sire (breed) them. A test version of CryptoKitties was unveiled at ETH Waterloo on October 19, 2017, the largest Ethereum hackathon in the world. As of December 2, Genesis, the first and highest selling cat was sold for 246.9255 ETH (~$117,712 USD) on that day. The virtual cats are breedable and carry a unique number and 256 bit distinct genome with DNA and different attributes (cattributes) that can be passed to offspring. [6] Several traits can be passed down including cool down time (how much time is required before a cat can breed), whiskers, fur color, eye shape, eye color and background color. [7] A CryptoKitty' Continue reading >>

Cryptokitties Had A Glitch That Allowed For Unlimited Automatic Likes

Cryptokitties Had A Glitch That Allowed For Unlimited Automatic Likes

Cryptokitties had a glitch that allowed for unlimited automatic likes There existed a glitch that allowed users to make an absurd amount of money in Cryptokitties that no one has been aware of, or so this guy is claiming. Robert Durst, a full stack engineer with a slight blockchain obsession, described his experience of hacking Cryptokitties on hackernoon . Durst exploited the likes feature to dominate the Cryptokitties marketplace. He says that, while the rest of the users were busy manually liking their kitties, he automated the process: The average Cryptokitties user is not very tech savvy, so most of thelikeexploits were simply people creating multiple accounts on MetaMask and liking up their own cat. While this is effective for maybe 10100 likes, it gets very time consuming when done in large quantities. Having had some experience with web3.js I sought to repeat this liking process, but with code. The end result for him was this kitty with an absurd number of likes: Durst describes the ritual to get an infinite number oflikesfor your precious lovely kitties as follows: Digitally sign the word Cryptokitties and send this signature along with your public key to the CryptoKitties API. Durst says that since he was the only one liking cats using the above method, he was easily able to dominate the marketplace. His strategy was simple: like a cat until it is the most liked cat on the market, sell, and repeat. He, however, has bad news for anyone thinking of trying this method out according to him, the bug no longer exists. CryptoKitties development team has covered up this exploit, allowing onlythose with at least one cat to like other cats. This means, to replicate the above, you would need to pass a cat back and forth between accounts by the time you get to 20,000+ li Continue reading >>

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