The latest fad has people spending millions on digital cats
Think Nintendogs or Pokemon, but with higher stakes. People are now spending up to $10,000 to buy and sell virtual cats on the new application, CryptoKitties.
I can’t make this stuff up.
CryptoKitties, labeled the next big cryptocurrency, is an application on the Ethereum chain, a cryptocurrency similar to Bitcoin, and according to CNBC, people have already spent the equivalent of $6.7 million on these fake felines.
$6.7 million, guys. On virtual cats!! (although they are pretty cute)
Users buy the collectable kitties using Ethereum, and can then breed them to make even more kitties. Players can choose to breed two of their own kitties, or can pay another user to mate with one of theirs, if they have rare attributes.
Each kitty has its own traits, called “cattributes”, that make them more appealing to other players. Users will make more money selling their kitties if they possess desirable “cattributes”.
However, the kitties have a resting period, which prevents them from breeding and creating new kitties too fast, in an effort to limit inflation.
This makes a fast cooldown period a desirable “cattribute” in kitties. Other attributes generally have to do with eye color, fur color, or generation.
As if 2017 couldn’t get any weirder.
Check out www.grifin.com to learn more.
All words by Lauren Vehar