It was immensely popular,so much so that it seriously congested the Ethereum blockchain network.
Some cats were sold for more than $100,000. All in all,the CryptoKitty craze lasted about six months. However,it served an important purpose as one of the first examples of widespread use of non-fungible tokens (NFTs) – unique,blockchain-enabled digital assets (often artwork) that can be bought and sold like other collectibles.
At the time,no one was being sold on any other premise than simply breeding cute cats. No one was starting a CryptoKittyrestaurant in California. Paris Hilton wasn’tpromoting rare cats onThe Tonight Show. No exclusive parties were being held for the top 100 cat breeders.
CryptoKitties was basically gambling:a roll of the dice to see if you’d be lucky enough to get a fancy looking critter. There were no notions of it being anything more.
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If only the spruikers of today’s NFTs were so honest.
The market for NFTs is huge:worth upwards of $15 billion at some estimates,with millions of dollars of digital art changing hands daily. Much of this is thanks to the industry’s “premier” projects,such as Bored Apes,which are worth up to $200,000,CryptoPunks and Moonbirds.