CryptoKitties Moved More Than $12 Million Dollars In Cat Sales

The Ethereum-based digital card game, CryptoKitties, has processed more than $12 million dollars in sales. In this game, users can buy and sell cats with different attributes and features that sometimes reach really high prices.

CryptoKitties a New Way of Interacting

At UseTheBitcoin we explained how this game works and how much money it had moved. Just one week ago, $3 million dollars were spent in the platform. Today, more than $12 million dollars were moved. This is an incredible performance for such kind of game.

For example, the most expensive cat named “Founder Cat #18,” was sold for 253.33 ETH. This sale surpassed the last most expensive transaction set at 247 ETH.  Several cats can be bought for more than $50,000 dollars. There have been different comments about this platform and whether this platform will be able to be sustained in the long term or not.

A Decentralized Platform to Trade Digital Assets

The cats that an individual owns in the platform are 100 percent owned by this individual and they cannot be replicated or destroyed. This is one of the main differences with other pet websites. These other games do not work with blockchain technology. That means that even when you believe that you are the owner of your pets, if the website is down or it closes, there is no real asset behind your pet.

With the Ethereum network, different applications will allow individuals to exchange different assets without the necessity of providing information for strict Know Your Customer (KYC) and Anti Money Laundering (AML) policies.

Vitalik Buterin has commented about this game and way of exchanging assets:

“I actually like the digital cat games. They illustrate very well that the value of a blockchain extends far beyond applications that would literally get shut down by banks or governments if they did not use one,” he said in Twitter.

Besides that, Ethereum’s founder has defended the price of the cats sold. He tweeted that CryptoKitties is a ‘reflection of the world at large’ and he shared a Bloomberg article about a Leonardo Da Vinci paint sold at $450 Million Dollars.

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