You might not care so much about cryptocollectables, but what if we told you there are unique crypto cats you can collect and breed? We likely piqued your interest if you’re a cat lover like us.
Even though it’s playful and lighthearted, the game has a significant position in blockchain history because it was one of the earliest applications of technology that weren’t related to money. Today we’ll talk about cryptocollectables, what they are, and how to get your own.
What Are Cryptocollectables?
Non-fungible tokens (NFTs), another name for cryptocurrency collectables, are particular digital assets that are kept on a blockchain. These assets can represent everything from virtual properties, in-game goods, and even tweets to artwork, music, and films.
Cryptocollectables are special because they are non-fungible, meaning no two are exactly alike and cannot be traded. This contrasts with fungible tokens, such as Bitcoin, where each token may be exchanged for every other token.
Cryptocollectables use blockchain technology to demonstrate ownership and validity. They are produced through a method called “minting,” and they can be purchased, sold, and exchanged on different internet exchanges. Similar to regular collectables, the supply and demand factors affect the value of a cryptocurrency collectible.
What Are Cryptokitties?
In the game Cryptokitties, players may purchase, sell, and breed one-of-a-kind digital cats that are all logged on the Ethereum blockchain. Since a different digital token represents each Cryptokitty, they are the ideal example of an NFT. Each cat has unique “genes” in their code, which correlate to its appearance, 12 in total.
Some of these correspond to the shape of their mouth, others to their body pattern, eye colour, etc. Several pieces of that code are hidden and can only be revealed as you breed your kitties. Once your offspring pop up, you can notice special qualities that weren’t previously available. Many collectors aim to create the kitty of their dreams and look for other users with the ideal genes for its breeding.
Cryptokitty NFTs are highly sought after by collectors since each bred kitty is unique. A cryptokitty is generated and then stored as an NFT on the Ethereum blockchain. It cannot be imitated or replicated, making it completely one-of-a-kind.
Why Are Cryptokitties So Popular?
A total of 50 000 cryptokitties were released by the end of 2018. Similar to the way you would collect comic books or stamps, cryptokitties base their value on scarcity and uniqueness. Each cryptokitty is distinct in its attributes and characteristics, which not only adds to its value but also provides gamers with amusement and engagement. In addition to being original, Cryptokitties have intrinsic value because they were created using the Ethereum network. Each cat is thus verifiably rare, and ownership and transfer of ownership are entirely open and secure.
When the game was first released, the Ethereum network was overloaded due to the volume of transactions it generated, bringing attention to the scaling issues Ethereum was experiencing at the time. The case prompted a variety of Layer-2 Ethereum scaling strategies and ingenious solutions to scaling problems, as well as multiple creative ideas for managing transactions on the Ethereum network.
Where To Start with NFTs
The majority of NFTs are purchased and sold with Ethereum. If you’re looking to buy a cryptokitty or any other NFT that comes to mind, you’ll need a digital wallet, Ethereum, and a computer with a web browser. If you don’t own any cryptocurrency yet, we recommend purchasing your preferred asset from secure platforms or exchanges. With so many platforms to choose from, finding one reliable enough to trust with your finances is challenging.
We keep our eyes focused on platforms recommended by industry experts. We’ve recently heard more and more encouraging comments about a particular platform called Immediate Connect. It’s perfect for inexperienced investors looking to get the tools and support to start trading. If you join, you will be paired with a broker, who will share all their knowledge, market insight, and trading software to help you make your first purchases. If you’re looking to buy ETH for your NFT purchase, they can help you with that, as well as set up a safe crypto wallet.
If you want to become a proud owner of a cryptokitty, you need to visit their official website. Once you have some Ethereum, you can exchange it for one of the many kitties in the catalog. From there, you can either start breeding your own cats or browse the market to pick kittens you’re interested in purchasing.
It’s crucial to remember that Cryptokitties can be very expensive; some scarce cats can cost you thousands of dollars. There are, however, many reasonably priced options, making cryptokitties accessible to anyone.
The Future of NFTs
With its distinctive and cutting-edge approach to digital ownership, Cryptokitties is ready to lead the charge as the NFT market continues to expand and change. Cryptokitties has developed a groundbreaking platform that is altering how we think about ownership and value by fusing the strength of blockchain technology with the joy and excitement of a game.
We are witnessing a fundamental change in how we think about digital assets due to the emergence of NFTs. Digital purchases are becoming appreciated for their distinct qualities and traits rather than just being reproductions of something else. As more and more individuals see the value and promise of NFTs, this tendency is only expected to intensify.
Of course, CryptoKitties isn’t the only NFT game you’ll come across. If this game sounds too cute for you, you can explore other games, such as Decentraland or Koto Wars (a deviation of Cryptokitties where your kitties have furry brawls). There have even been confirmation for the release of Symbiogenesis, a game made by the creators of the Final Fantasy franchise.
Cryptokitties managed to introduce NFTs and blockchain technology to millions of new users with their adorable and fun game. In addition, they showcased the technological capacity of blockchain through a humorous yet significant application. So if you’re a feline fan, why not explore the world of Cryptokitties? Who knows, you might find a favorite collectible today.