And with a new participant in the race, the world is introduced with games based on this particular technology so as to make the people more associated with this technology. And one such interesting and innovative blockchain game is Cryptokitties.
For those who have never heard about this interesting game based on blockchain technology before need not worry as we are going to discuss it at length in this article.
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What are Cryptokitties?
Cryptokitties is a virtual game based on blockchain technology that lets an individual breed, purchase, collect and hold various types of kittens or virtual cats.
Just like we humans have unique DNA which separates us from the rest, these digital kittens are unique and cannot be destroyed or taken away.
It is also impossible to replicate these virtual kitties or cryptokitties. The virtual cats carry a unique number and a 256-bit distinct genome with DNA carrying different attributes also known as cattributes that can be passed to offspring.
Several traits that can be passed down includes cool down time, whiskers, fur color, eye shape, eye color and background color. Cool down time is the time required for a cat can breed.
Just like a digital currency that thrives on blockchain technology, cryptokitties are born and thrive on the Ethereum network and just like cryptocurrencies, these kitties are also unique.
These are made and generated over Ethereum blockchain. The popularity of the game led to the congestion of Ethereum network in the late 2017 and was also one of the reasons for an increase in the prices of digital currency during that period.
These kitties have introduced to the world a new form of collectibles or crypto collectibles. The purpose of the game is to use blockchain technology for leisure and recreational purposes.
Cryptokitties are developed Axiom Zen. The team has many crypto developers, enthusiasts and start-ups founders in it which made this team quite diverse.
This team has also won ETHwaterloo, the world’s largest Ethereum hackathon while featuring their alpha product.
How do Cryptokitties Work?
Now we have a little understanding about cryptokitties and we know that these are a form of collectibles which we can sell, hold or purchase.
In short, we can trade on it. But this is not just about it, this is not just any other traditional collectibles.
We can also breed these virtual kitties which will result in creating a new unique offspring just like the homo sapiens.
This particular feature makes it more exciting than any other game in the world. A game where you get to breed you own virtual kitten takes this to a different dimension altogether.
Also, there will be secure tracking of the ownership of these crytpokitties on blockchain which will eliminate fraud or dispute over ownership as everything will be recorded on the Ethereum network.
Technology Behind Cryptokitties
A smart contract is used for tracking cryptokitties ownerships on the Ethereum blockchain. This blockchain based technology game is distributed automatically with the help of smart contract.
It is distributed at the rate of one every 15 minutes or 672 per week for one year. Also, each and every cryptokitty is represented in the form of an ERC-721 non-fungible token, which helps in providing specific attributes to each entity.
There is a limitation on the total cats that can be bred. Based on the circulation of the limited number of cats and their limited genomes, a total of 4 billion cats can be bred.
Every cat will have a distinct phenotype or visual appearance which will be determined by its immutable genes or genotype.
These genotypes or immutable genes are stored in the smart contract. A cryptokitty is not assigned any gender as these cats are just tokens on a blockchain which can be transferred, sold, or bought digitally, with confirmation of ownership.
Each cat can act as a matron that is the mother or the sire that is the father and can only engage in breeding session at one time. The owner chooses with each breeding interaction.
Until November 2018, the developers of the game have decided to continually release a new CryptoKitty at a regular interval of every 15 minutes and the rest of supply will be determined as per the breeding of cryptokitties.
How to Breed Cryptokitties
Just like every other game, there are some pre-requisites for this game as well. First things first, you will need a computer or a laptop that has a desktop version of Firefox or Chrome in it. Now that you have a computer or laptop, you are required to install MetaMask in it.
MetaMask is the digital wallet of Ethereum which are specifically used with web apps. And the last thing you will need is the digital currency Ether which will be used to power the Cryptokitties.
As this game is not a free game, payment will be made on Ether to play this game and this is the reason why you will need this digital currency. Now that you have installed the MegaMask and also have the digital currency with you, the digital currency should be transferred to the MetaMask wallet address.
Also after installing the digital wallet on your laptop, it is important to save the seed phrase as well. If you don’t have Ether with you then purchase it from places as it is mandatory to pay in terms of Ether.
And with that, we have covered the pre-requisites for the game and now we can focus on how to play the game.
How to Play
This game is a very simple yet exciting game to play. After logging into MetaMask, you need to go to the marketplace.
This is the place where you will be able to see the ongoing sale of different kitties and also can purchase a new kitty. To play this game an individual need to buy or sell the existing kitties and also can choose to breed another form of new & unique kitty.
Once you login to MetaMask and go to the marketplace, you will be able to see a sale of kitties. Once you enter the marketplace, you can see there are four sections.
These sections are as:
- For Sale
- Gen 0
- All kitties
In the for sale section, you can purchase different kitties by funding your MetaMask wallet in the form of Ether and can purchase the kitty for yourself. There will be different types of kitties and the generations of the kitty, kitty name, and the purchase price will be mentioned there.
As per your capability and requirement, you can purchase the existing kitty. Also if you want to sell your kitty, you can do so by making an offer in the sale section.
There is another section named as Gen 0 from where you can buy kitties if you are not interested in buying kittens from the sale section, which consists of existing kitties.
This section contains all the new kitties that the CryptoKitties team releases. These kitties are released every fifteen minutes and will be released until November 2018. One can purchase these newly released kitties from this section in exchange for the Ether.
We have an understanding of how to buy and sell the kitties in the marketplace and now we will now focus on how to breed your existing kitty. So If you are thinking about breeding a new offspring, you can do that in the siring section.
To breed your existing kitty, you need to find any other siring partner from siring section. You can start by choosing one of your CryptoKitties to be the Sire that is to be the dad and then choosing one of your other CryptoKitties to be the mother. The process of siring can be done in the given method:
- Go to section “My Kitties”.
- Select the Kitty who you want to act as Sire.
- Press the breeding button.
- Choose one of the other Kitties that you want to be the mother.
- And finally, you will have to approve the Ether transaction.
Once you are done with the breeding, you can choose to keep this new offspring with yourself or sell it in the marketplace at a particular price and earn currency in the form of Ether.
It should be noted that the breeding process also needs some payment and is not free. So in order to breed, you will have to pay some amount.
Genesis is the first and the highest selling cat as of December 2, 2017. It was sold for 246.92 ETH that is approximately $117712 on that day.
How to Earn Money Using Cryptokitties?
Now the question: what is the earning opportunity that is available with cryptokitties.
So the answer to this question is yes there is an earning opportunity associated with this game and this is what makes it even more exciting.
The whole game is based on buying, selling, holding and breeding the kitty. It is up to you. We can either purchase an existing kitty and then decide to breed it. After breeding it we can sell it to other buyers for the desired amount of money.
Or we can buy a new kitty from the Gen 0 section and then sell it after breeding the kitty to earn some money. The more unique a cryptokitty is, higher the profit we can earn by selling the cryptokitty.
We can also decide to hold the kitty if at that time the price is not up to our desired price and sell it once the buyers agree to buy the kitty at a good price.
Just like any other market, products or collectible, this marketplace is also driven by demand and supply process along with your asking price. Who are the buyers of these kitties can be the question that might be popping in your head.
The buyers can be anyone given the fact that these kitties can make them earn a huge profit if their kitties are unique and appealing enough for any other buyers who might be willing to pay a huge amount of money for them.
We already know now at what price Genesis was sold and from that we can figure out what these kitties are worth it. Also till date more than $4million worth of kitties have been sold.
Are Cryptokitties Like Cryptocurrency?
People might confuse cryptokitties with cryptocurrency. Cryptokitties are different from cryptocurrency.
Cryptocurrencies are digital currencies just like the INR or USD whereas cryptokitties are crypto collectibles that can be collected by paying for it in the ether, a cryptocurrency.
Cryptokitties Getting Big?
This viral blockchain based game which has already traded more than $17 million since its inception and is responsible for more than 25% traffic in the Ethereum network.
It has currently more than 250,000 players and more than 500,000 kitties have been sold. Among which seven of the rarest kitties have been sold for more than $100,000 and some of them are now worth more than $250,000.
The game is now all set to get bigger as it has officially launched their iOS mobile app for China, Taiwan, and Hong Kong.
This will supposedly increase the craze of the game and take this game to a higher level. This will also help in promoting the mainstream adoption of the digital currency Ethereum.
This was the area which the developers were trying to tap for a long time and have now successfully entered this particular sector of the market. This move by the developers of the game will certainly increase the craze of this game and help in making this bigger.
Although few of the experts are concerned as to whether the Ethereum network will be able to handle the kind of traffic it might get as top mobile games get millions of users per day in a country like China.
Let alone the Ethereum network, experts think that no blockchain is ready for this kind of traffic as scalability is the ongoing concern of the blockchain technology. On top of that, involvement of mobile players are going to overwhelm the network – especially Ethereum network.
On the positive side, Axiom Zen has a full-time team to work on this and considering the scalability problem, the team has decided to launch only the iOS version and not the android version. We will have to wait and see what lies for cryptokitties in the future.
Future of Cryptokitties
The innovation of blockchain and the utilization of this technology by gaming industry can be considered as the beginning of a new era of crypto collectibles. Utilization of this technology in a field where it was not tested before will make the scope of growing bigger and better in the coming days.
Cryptokitties has led people to explore more in this particular field and this might lead them to come up with better ideas and innovations as well as implementation in order to use blockchain on another level.
There are certain issues related to it which are being worked upon. Scalability is one such issue which needs to be resolved as soon as possible in order to prevent traffic congestion.
The innovative game of cryptokitties has already led to traffic congestion on the Ethereum network which if not solved might act as a hindrance to the growth of this type of a game.
But as these problems are known to us, the developers are working towards a solution.
Disclaimer: The views expressed here are of that the author and need not be same as that of Groww.