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Crypto Kitties

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 >>

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 >>

Cryptokitties Is An Ethereum Game That Puts Cartoon Cats On The Blockchain Quartz

Cryptokitties Is An Ethereum Game That Puts Cartoon Cats On The Blockchain Quartz

CryptoKitties is significant because it has a chance of attracting players beyond the limited circle of cryptocurrency enthusiasts. As Ryan Hoover, the founder of product recommendation platform Product Hunt, noted, the game is like Pokmon on a blockchain, which bodes well for ethereum evangelists hoping for some of Pokmon Gos viral popularity. A modern day Pokemon with cats on the blockchain: pic.twitter.com/t7fwiSt3au Ryan Hoover (@rrhoover) November 29, 2017 CryptoKitties also offers a cuddly slant on the initial coin offering craze. The mechanics and goals of the two are similar, but in the case of CryptoKitties, offers genuine utility to the user upfront. For instance, most ICOs promise to build whatever technology they are pitching with a white paper (basically a lugubrious PDF). Investors send cryptocurrency to the ICO issuer and then wait for the tech to be built. In the meantime, the ICO may issue a token and allow investors to trade it, which gives rise to speculative prices around an unbuilt piece of technology. With CryptoKitties, the software is already functional. But people have to buy kittieswhich are sort of like tokensin order to participate. They can buy kitties from the developers themselves, or on the secondary market. In the latter case, the developers take a 3.75% cut. The CryptoKitties game, then, amounts to a sort of token sale, except the tokens are the kitties. The trading of kitties also generates the vaunted virtuous cycle that all ICOs promise: the more users pile into the system, the more valuable those tokens will be. This appears to be happening with CryptoKitties. CryptoKitties may not have the grand ambitions of other cryptocurrency projects, but by devising a mechanism thats fun and approachable, it may come closest to achieving thos Continue reading >>

Cryptokittydex

Cryptokittydex

bornwithit 61 kitties ~0.063 ETH See all koladiviya 96 kitties ~0.067 ETH See all swarley 128 kitties ~0.018 ETH See all chameleon 132 kitties ~0.033 ETH See all lavender 135 kitties ~0.106 ETH See all oceanid 266 kitties ~0.028 ETH See all mintmacaron 362 kitties ~0.019 ETH See all eclipse 436 kitties ~0.062 ETH See all daemonhorns 451 kitties ~0.044 ETH See all caffeine 489 kitties ~0.033 ETH See all buzzed 679 kitties ~0.039 ETH See all babypuke 685 kitties ~0.046 ETH See all daemonwings 1,183 kitties ~0.019 ETH See all turtleback 1,231 kitties ~0.044 ETH See all flamingo 1,279 kitties ~0.022 ETH See all patrickstarfish 1,331 kitties ~0.081 ETH See all twilightsparkle 1,417 kitties ~0.016 ETH See all belch 1,441 kitties ~0.012 ETH See all cinderella 1,449 kitties ~0.11 ETH See all trioculus 1,522 kitties ~0.019 ETH See all seafoam 1,628 kitties ~0.004 ETH See all verdigris 1,770 kitties ~0.024 ETH See all neckbeard 1,847 kitties ~0.009 ETH See all doridnudibranch 1,949 kitties ~0.01 ETH See all dippedcone 1,980 kitties ~0.021 ETH See all yokel 1,991 kitties ~0.006 ETH See all parakeet 2,055 kitties ~0.116 ETH See all koala 2,108 kitties ~0.011 ETH See all dragonfruit 2,243 kitties ~0.017 ETH See all thunderstruck 2,317 kitties ~0.009 ETH See all missmuffett 2,388 kitties ~0.016 ETH See all poisonberry 2,557 kitties ~0.02 ETH See all cheeky 2,645 kitties ~0.007 ETH See all periwinkle 2,830 kitties ~0.024 ETH See all wasntme 2,857 kitties ~0.014 ETH See all safetyvest 2,914 kitties ~0.016 ETH See all grimace 2,979 kitties ~0.021 ETH See all pumpkin 3,049 kitties ~0.012 ETH See all norwegianforest 4,062 kitties ~0.02 ETH See all sweetmeloncakes 4,305 kitties ~0.028 ETH See all starstruck 4,456 kitties ~0.007 ETH See all wingtips 4,569 kitties ~0.02 ETH See all mainecoo Continue reading >>

Github - Cryptocopycats/awesome-cryptokitties: A Collection About Awesome Cryptokitties (yes, Cute Little Cartoon Cats) On The Blockchain! And Cryptocopycats - Digital Collectibles Secured On A Distributed Public Databases W/ Crypto Hashes. Are Cryptopuppies The New Cryptokitties? Learn By Example From The Real World (anno 2017) - Buy! Sell! Hodl! Sire!

Github - Cryptocopycats/awesome-cryptokitties: A Collection About Awesome Cryptokitties (yes, Cute Little Cartoon Cats) On The Blockchain! And Cryptocopycats - Digital Collectibles Secured On A Distributed Public Databases W/ Crypto Hashes. Are Cryptopuppies The New Cryptokitties? Learn By Example From The Real World (anno 2017) - Buy! Sell! Hodl! Sire!

CryptoKitties (Yes, Cute Little Cartoon Cats) on the Blockchain! Collect and breed digital cats. Start meow. Buy! Sell! Hold! Q: What's CryptoKitties? What's the big deal? CryptoKitties is centered around breedable, collectible, and oh-so-adorable creatureswe call CryptoKitties! Each cat is one-of-a-kind and 100% owned by you (*);it cannot be replicated, taken away, or destroyed. CryptoKitties is built on blockchain technology.You can buy, sell, or trade your CryptoKitty like it was a traditional collectible,secure in the knowledge that blockchain will track ownership securely.But, unlike traditional collectibles, you can breed two CryptoKittiesto create a brand-new, genetically unique offspring.It results in something specialjust like you! (*): See Q: Do you really own your CryptoKitties? A: Spoiler: No. Learn more @ cryptokitties.co ,medium: cryptokitties ,twitter: CryptoKitties ,reddit: CryptoKitties All I want for Christmas is a CryptoKitty. Reigning Cats -How to buy cryptocurrency Ethereum is it worth as much as Bitcoin and what are CryptoKitties? , The Sun, Dec/28 - Players can buy and sell virtual cats for as much as $10,000 on the new digital currency - with their rather valuable 'Cattributes' CryptoKitties, Explained ... Mostly , The New York Times, Dec/28 - Why are $20 million and 180,000 people suddenly in the market for digital cats? We gamified the blockchain. Note: For official (twice weekly) updates / timeline see updates.cryptokitties.co . 2017 Oct/19 - CryptoKitties alpha test starts at ETH Waterloo (in Ontario, Canada) - an Ethereum hackathon; hundreds of users bred thousands of cats 2017 Nov/22 - CryptoKitties contract scripts uploaded onto the public Ethereum blockchain 2017 Nov/23 - CryptoKitties closed beta starts; one of the top three most active Continue reading >>

Cryptokitty: Why Collectors Spend Thousands On Cats - Cnn Style

Cryptokitty: Why Collectors Spend Thousands On Cats - Cnn Style

How Bitcoin is making waves in the luxury market Every CryptoKitty is unique and stored digitally on the Ethereum blockchain, a popular alternative to bitcoin. The first CryptoKitty was only born a few months ago and the market has ballooned since. The most expensive one to date was sold for the equivalent of $110,707 in December 2017. It might seem a strange way to spend a small fortune, but no more so, it could be argued, than splashing out on real-world collectibles. (A Pokmon card , for example, sold for almost $55,000 in 2016.) In the same way collectors pay huge amounts for rare toys or comic book merchandise -- or even works of fine art -- CryptoKitties show how digital scarcity can make cult objects valuable: if the blockchain (a sort of digital ledger) tells you that there's only one of those digital cats in the world, you might be willing to pay anything for it. Much more, in fact, than an exotic cat with physical fur. CryptoKitties each have a unique 256-bit DNA sequence, which gives them their own appearance. Credit: Courtesy CryptoKitties The wild world of internet money is one of technology's new frontiers. Bitcoin and other cryptocurrencies have recently exploded , with 2017 seeing an extraordinary jump in price and popularity. And while no one really knows what's next for this fascinating technology, it has sparked the imagination of visionaries from every field. At "New World Order," a touring exhibition led by Furtherfield, a London artist community, visitors can see a Plantoid, a three-foot metal artwork in the shape of a flower with a multicolored bulb glowing at its core. Currently on view in Rijeka, Croatia , the Plantoid is a self-owned art piece, managed by a "smart contract," a program running on the blockchain. It has its own cryptocurrency to 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 >>

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 >>

I Bred 'crypto Kitties' On The Ethereum Blockchain

I Bred 'crypto Kitties' On The Ethereum Blockchain

I Bred 'Crypto Kitties' on the Ethereum Blockchain CryptoKitties wants to make blockchain tech fun. Trying to explain Ethereum to someone who is unfamiliar with the topic is a bit like administering anesthesia. You start by explaining a blockchain and their eyes slowly glaze over. By the time you've gotten to smart contracts and ICOs , they're slack jawed and drooling all over the place. When you're finished and they regain consciousness, they won't remember a thing. This is all to say that learning about and using Ethereummost succinctly described as a distributed computing platform based on a public ledgercan be unbelievably dull. In a bid to make blockchain technology fun, a Canadian tech company called Axiom Zen has created CryptoKitties , a game where players breed and trade cats using smart contracts on the Ethereum blockchain. "Kitties should be a part of this revolution of bringing blockchain technology to the masses," Benny Giang, a product manager at Axiom Zen told me in an email. "So many great companies are building awesome technology that the world won't care about or understand. We're the flag bearer for the rest of this ecosystem in terms of getting celebrities to associate with kitties and the Ethereum network." A test version of CryptoKitties was unveiled last weekend at ETH Waterloo, the largest Ethereum hackathon in the world. It was accompanied by a breeding competition that challenged participants to breed digital kittens with certain physical traits and rewarded breeders with real Ether (the digital money that powers apps on the Ethereum network). As a cat-lover with an interest in Ethereum , when I heard about the project I thought I'd try my hand at breeding a few crypto kitties of my own. CryptoKitties will be officially released on November 1, Continue reading >>

People Are Spending $millions On Digital Cats And Heres Why It Makessense

People Are Spending $millions On Digital Cats And Heres Why It Makessense

People are spending $millions on digital cats and heres why it makessense Crypto Kitties is about so much more thancats. Last week, AxiomZen studios launched Crypto Kitties , an Ethereum-based game where you can buy and breed cute digital cats. Then, as with every cat thing on the Internet, it promptly blew up. So far, people spent over $6.4 million on these virtual cats . The most expensive one, the genesis cat , sold for a whopping $115,000 a few days ago. The popularity of Crypto Kitties caused a lot of anger and confusion online. Granted, at first glance, this looks completely silly. But, believe it or not, Crypto Kitties marks the beginning of a massive digital revolution. To understand why, we first need to learn about the blockchain, Bitcoin and Ethereum. One of the most important properties of computers is that they can effortlessly duplicate information. For instance, if I send you an email, I still have a copy of it on my computer. Compare this to the real world, where, if I send you a letter through the mail, the letter is gone. I no longer have it. There can only ever be one version of that letter in the world. In most cases, this copy-paste property is great. But in some cases, it sucks. Money is a good example of that. Say I create my own digital money call it DCash and give some to my friend. Then, my friend duplicates it a million times, and now, he wants to buy your car with it. Would you agree to sell him your car for a million DCash? No. Youd say that his money isnt worth anything because he can just make it all up from nothing. This is the paradox of digital assets, or as I call it, the copy-paste problem: for things to have value, they need to be scarce. But computers, by default, make everything available to everyone. Therefore, anything that can 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 >>

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 >>

Official Wikileaks Cryptokitties

Official Wikileaks Cryptokitties

Proud cryptographic kitten owner Julian Assange said: Cryptography is not only transforming the global financial system, it is generating creative innovation in a vast array of human interaction. WikiLeaks likes cats and wants to help bring cryptocurrencies and smart contracts into the mainstream. Donors and crypto-kitty enthusiasts can empower WikiLeaks by bidding for one of our cute purebred cryptographic kittens. Newcomers will learn about the blockchain, acquire their very first cryptocurrency, and potentially even make a profit. WikiLeaks gifts CryptoKitties to Trump & Hillary WikiLeaks is gifting two first generation WikiLeaks CryptoKitties, Trumps Tender Tabby ( cryptokitties.co/kitty/366883 ) and Clinton Console Kitty ( cryptokitties.co/kitty/367756 ) to President Trump and Secretary Clinton. These unique CryptoKitties are valued at several thousand dollars, meaning that President Trump will have to declare WikiLeaks gift under 5 U.S.C. 7432 and regulation GSA FMR B-41. Trumps Tender Tabby will become federal property to be enjoyed by future presidents via custodians at the US National Archives. Mr. WikiLeaks ( cryptokitties.co/kitty/301923 ) and Mrs. WikiLeaks ( cryptokitties.co/kitty/363461 ) are two Generation 0 CryptoKitties. WikiLeaks will keep scarcity by breeding only one kitten per week after the initial Christmas litter of 10 (of which only 8 will be for sale). Kitties can be renamed and resold or gifted by their new owners. Their authenticity can be verified on the blockchain. At the time of writing, the crypto kitty trade is worth well over US $ 17 million. Some limited edition CryptoKitties have sold for over US $ 110,000 kittysales.herokuapp.com ). WikiLeaks CryptoKittieswill be auctioned at a variety of prices, starting at the highest bidding pric Continue reading >>

Cryptokitties Is Going Mobile. Can Ethereum Handle The Traffic?

Cryptokitties Is Going Mobile. Can Ethereum Handle The Traffic?

CryptoKitties is Going Mobile. Can Ethereum Handle the Traffic? CryptoKitties, the viral blockchain-based game that sparked a global craze for collecting cartoon cats, is about to get a whole lot bigger, which could mean another pile-up for the worlds second-largest cryptocurrency. The blockbuster game is going mobile, launching a Chinese-language iOS App aimed at bringing Greater China and Singapore into the feline frenzy. The mobile edition is set to debut on Feb. 16, just in time for the Lunar New Year, with a global roll out expected a few weeks after the China release, says the games co-founder Benny Giang. The games studio, Axiom Zen, hasnt put a number on how many new users theyre expecting. Thats partially because after the PC versions Nov. 28 launch, even their wildest speculations were quickly eclipsed. We did some models and we some made spreadsheets and had everyone take a guess at how many users wed see. We ended up hitting every one of those numbers within the first three days, Giang tells Fortune. Intended as a cute way to promote the mainstream adoption of Ethereum a digital and decentralized ledger which records the games smart contracts CryptoKitties caught on with an irrational vengeance. Within days of the games launch last year, players fervor for breeding, collecting and trading digital cats clogged up the Ethereum network. At one point, the viral game accounted for nearly 30% of all transactions on Ethereum, which resulted in delays and unprocessed transactions. The backlog peaked at about 30,000 pending transactions . CryptoKitties, one of the biggest blockchain-based games, is launching a mobile edition. For more on Ethereum, watch Fortunes video: As the kitties prepare to hit the Chinese market, another traffic spike could be on the horizon. O Continue reading >>

A16z, Usv Lead $12 Million Funding For Cryptokitties

A16z, Usv Lead $12 Million Funding For Cryptokitties

A16z, USV Lead $12 Million Funding for CryptoKitties Mar 20, 2018 at 21:05 UTC|UpdatedMar 21, 2018 at 12:48 UTC The team behind the viral ethereum app CryptoKitties is breaking away from its parent company,Canada-based Axiom Zen, and raising $12 million in venture funding to go it alone. Announced Tuesday, the app's Series A round was led by venture capital firm Andreessen Horowitz, whose portfolio includes a variety of tech companies such as Coinbase and Airbnb, and Union Square Ventures, a New York-based firmthat has stakes in Coinbase, OB1 and other industry startups. Still, the news is a milestone for theethereum-based app, which has enjoyed tremendous popularity since its launch in December 2017. CryptoKitties allows users to buy, collect, breed and exchange unique digital cats built on ERC-721 tokens, and users have done so, even congesting the ethereum network and delaying token sales due to demand. A spokesperson for Axiom Zen said CryptoKitties, which will retain at least 20 employees, aims to "make blockchain technology accessible and relevant to everyday consumers," and believes "digital collectibles can act as a constellation for identity and self-expression." "They can be wonderfully representative of who we are and what's important to us," the representative told CoinDesk in an email, adding that the people behind CryptoKitties believe "the world in the future will involve reputation-based identity powered by the blockchain." Axiom Zen's spokesperson said the proceeds will primarily be used to "dramatically expand" the CryptoKitties team "as we figure out how to scale the blockchain to a billion consumers." Token Summit founder and advisor to Coin Center William Mougayar, who is an angel investor in company, told CoinDesk he thought the app could be a lea Continue reading >>

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