Virtual cats like catnip to investors
VANCOUVER — At first glance, CryptoKitties are googly-eyed virtual cats that come in an array of fanciful forms — from fluffy ninjas, to feline-duck hybrids.
But don’t underestimate these collectible critters, because some CryptoKitties have commanded six figures on the virtual market, and the B.C.-based company, Axiom Zen behind the project says it’s attracted more than $12 million US in investments.
CryptoKitties has been compared to breedable Beanie Babies on the blockchain. When a CryptoKitty changes hands, the exchange is logged by the blockchain, a digital ledger of transactions.
Each is encoded with a oneof-a-kind token, like DNA. When two breed, new characteristics can be unlocked through the genetic lottery.
A run-of-the-mill virtual kitten costs only a few dollars, but CryptoKitties of special pedigree can have exorbitant price tags.
Behold, a CryptoKitty! — THE CANADIAN PRESS