ERC721 enabled the development of non-fungible, one-of-a-kind tokens. Before the introduction of ERC721, blockchain tokens were fungible or interchangeable every Bitcoin or Ethereum token is identical to any other. Users have already purchased almost USD 1 million worth of virtual pets just a few days after the introduction.ĬryptoKitties are Non-Fungible Tokens (NFTs) created using the ERC721 token standard on the Ethereum network. The game was so popular after it was released that it clogged the Ethereum network with so many transactions.The first Cryptokitty, Genesis, was sold for 246.9255 ETH, valued at around USD 117,712.All Cryptokitty transactions are done in Ether because the app was created on the Ethereum network. These virtual cat assets are held on the Ethereum blockchain, which uses smart contracts to allow gamers to buy, collect, breed, and sell their virtual cats.

Axiom Zen created Cryptokitties in 2017.For example, people have spent more than $100,000 for a single cat in certain situations!ĭo you remember collecting a pack of Pokémon cards in the hopes of getting a rare card like Charizard? CryptoKitties is similar in that new kittens are produced randomly from a smart contract code when they are formed! Advancements of CryptoKitties Some cats are considerably uncommon, and they may fetch a high price. Each cat manufactured is one-of-a-kind, with various colored fur, eyes, and hair!ĭifferent CryptoKitty genders are also available, each named after a male or female horse! For example, a male CryptoKitty is known as a Sire, while females are known as Dames!Īlthough CryptoKitties is referred to as a game, you can only buy, breed, and sell them. The creators attempted to make an Ethereum game that allowed anybody on the globe to own virtual cats produced by smart contracts.

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