The blockchain ecosystem has created an incredible thing, CryptoKitties, where people can purchase, breed, and exchange digital cats. This game was developed back in 2017 and was a reason for indulging almost 25% of Ethereum’s traffic.
What Are CryptoKitties?
CryptoKitties is an internet-based game in which people can buy, sell, exchange, and breed charming virtual cats. CryptoKitties are among the initial NFT projects launched in the market and attracted the attention of the crypto community. These are developed on the Ethereum blockchain and are the ancestors of collectibles such as Cryptopunks, Sorare, and NBA Top Shot. All of these projects are developed and released by Dapper Labs. CryptoKitties is known as the 1st official gaming app of the Ethereum network that caused a massive number of Ethereum transactions.
How Does CryptoKitties Work?
CryptoKitties are NFTs genuinely developed on the Ethereum blockchain utilizing the ERC-721 token standard. Before the development of the ERC-721, coins or tokens on the blockchains were fungible or exchangeable. For instance, anyone BTC – the native currency of Bitcoin – you can find more insights about the most valuable cryptocurrencies atacdx.io, it was equivalent to one Ether. After the ERC-721 was built it enabled the creation of unique and Non-Fungible tokens that are not identical and not interchangeable.
Basically, CryptoKitties was developed to inspect the aspect of virtual dearth utilizing Ethereum-based Smart Contracts and the ERC-721 tokens. Every single CryptoKitty is distinctive and possesses its personal virtual genome kept in a Smart Contract. You can breed any two CryptoKitties with the help of a genetic mechanism. This algorithm results in a brood CryptoKitty that comes up with its own unique attributes or characteristics. The visual appearance of this newly produced character depends on the unchangeable genotype reserved in the Smart Contract.
Are CryptoKitties Similar To Cryptocurrencies?
People often think that CryptoKitties is the same as having Cryptocurrencies, but both are different. The existence of CryptoKitties is limited to the network only. Besides this, you cannot use them for trading and investment in other digital currencies. However, since people are tending to invest their hard-earned money in CryptoKitties, they are considered the assets of blockchain. They are built on top of the Ethereum network and are ERC-721 tokens. The abbreviation of ERC is Ethereum Request for Comments.
How To Breed Them?
CryptoKitties breeding is the most unique aspect of this game that has raised its popularity to the skies among its players. Each of the CryptoKitties is Non-Fungible, which makes them unique in terms of attributes. These traits are known as Cattributes. Breeding two kittens together means that the offspring will have a mixture of Cattributes from both its progenitors.
How To Buy CryptoKitties?
The CryptoKitties marketplace is available for buying and selling of these characters. All you have to do is to focus on the search tab. After purchasing, you can breed them together or get one as a present from another player using your wallet. CryptoKitties do not come up with fixed prices. Bidding fixes their final or standard price. Blockchain technology also charges a small number of gas fees as transaction costs. After every 15 minutes, the CryptoKitties team launches a “Generation-0” CryptoKitty. The bidding process derives the initial price of CryptoKitties by computing the average price of the last five CryptoKitties sold. Once the starting price is calculated, an additional 50% is added to this price. In addition to the purchasing cost and transaction gas fees, you will also pay an amount as a birth fee every single time you breed your Kitties.
A Sneak Peek Into The Future Of CryptoKitties
CryptoKitties is an innovative project facilitating crypto-collectibles, the latest way to create digital products that are tradable using the Internet. Initially, CryptoKitties faced scaling issues, but the shift to the latest blockchain has assisted the establishment of this entirely new industry. Since Dapper Labs continue to develop Flow, however, the game that initiated it all will continue to be content at its heart.
Conclusion
This game has become insanely popular in a short time because it is an easy and interesting way of learning blockchain technology. The most incredible fact about the game is that the Smart Contract technology for producing offspring by breeding two kitties together works in the same way as DNA. The new breed is adorable and catches your attention.