CryptoKitties Has Users Trade Virtual Cats for Real Digital Currency
Laura McQuarrie — December 4, 2017 — Tech
References: digitaltrends
'CryptoKitties' recently launched as one of the world's first blockchain trading games, making it possible for users to buy, sell and breed virtual cats for real digital currency.
On the Ethereum blockchain, each virtual cat represents a token, with special-edition Generation Zero cats released periodically by the developer of CryptoKitties, Axiom Zen. To participate, users will need to set themselves up with the Google Chrome Internet browser, the MetaMask wallet app and enough Ethereum to purchase their very first cats. Some of the cats that can be collected through the blockchain game include Chairman Meow, Feline Musk and Kitty Perry.
In order to make blockchain transactions more accessible to the average consumer, initiatives are being launched in the forms of games and incentives offered with the purchase of online items.
On the Ethereum blockchain, each virtual cat represents a token, with special-edition Generation Zero cats released periodically by the developer of CryptoKitties, Axiom Zen. To participate, users will need to set themselves up with the Google Chrome Internet browser, the MetaMask wallet app and enough Ethereum to purchase their very first cats. Some of the cats that can be collected through the blockchain game include Chairman Meow, Feline Musk and Kitty Perry.
In order to make blockchain transactions more accessible to the average consumer, initiatives are being launched in the forms of games and incentives offered with the purchase of online items.
Trend Themes
1. Blockchain Trading Games - The emergence of blockchain trading games like CryptoKitties presents an opportunity for innovative ways to trade digital assets and collectibles.
2. Virtual Currency Collectibles - The rise of virtual currency collectibles, exemplified by CryptoKitties, creates a disruptive innovation opportunity for businesses to create and monetize unique digital assets.
3. Making Blockchain Accessible - Initiatives that use games and incentives to make blockchain transactions more accessible to consumers open the door to disruptive innovation in finance and technology sectors.
Industry Implications
1. Blockchain Technology - The use of blockchain technology in trading games like CryptoKitties opens up disruptive innovation opportunities for secure and transparent transactions across various industries.
2. Digital Collectibles - The digital collectibles industry can leverage the concept of virtual currency collectibles to disrupt traditional collectibles markets by offering unique and verifiable digital assets.
3. Gaming and Entertainment - The integration of blockchain technology in gaming and entertainment industries, as seen in CryptoKitties, presents disruptive innovation opportunities for new business models and experiences.
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