One of the first collectible NFTs to hit the market was CryptoKitties, which has continued to spark interest among a certain segment of the cryptocurrency community. This article will be about crypto kitty including its value.
How Do You Make Money On Crypto Kitty?
Crypto Kitty are virtual cats that players from all around the world acquire, purchase, sell, and breed. Each cat is unique because of the digital genome that defines how they look. In this game, your only objective is to purchase, breed, and breed. sell virtual cats online in order to make money. Each digital kitten has a unique genome made up of its DNA and 12 catattributes. By breeding and selling your one-of-a-kind kittens to other players, take advantage of the opportunity to make money on CryptoKitties.
Are Cryptokitties Still Valuable?
Early in December 2017 saw a peak in daily sales, which fell off in January and averaged less than 3,000 by March. The fact that the value of the NFTs itself decreased more slowly is evidence that the game still has a strong fan following, including Rabono , who purchased Dragon long after the game's height. Through 2018, their activity broke records for the value of NFTs. The game was maintained in the headlines as a result, but no new participants were attracted.
In the present day, CryptoKitties is fortunate to reach 100 sales a day, and the overall worth is frequently under $10,000. There are still significant transactions, like the selling of Founder Cat #71 for 60 ether (about $170,000) on April 30, 2022 , although they only happen occasionally. In July 2022, the majority of non-fungible fur puppies will only be worth tens of dollars in sales.
It's doubtful that CryptoKitties' decline into obscurity will stop. The company that owns CryptoKitties, Dapper Labs, has moved on to other endeavors like NBA Top Shot, a website that enables basketball fans to buy NFT "moments," which are essentially video NBA games. Attempts to contact Dapper Labs for an interview regarding CryptoKitties were unsuccessful. 2019 saw Bladon leave Dapper.
Summary
More players increased demand of crypto kitty, but they also increased the chance to increase supply by breeding additional cats. This quickly decreased each NFT's rarity.
