CryptoKitties are digital cats sold as non-fungible tokens (NFTs) and also one of the first attempts at a blockchain game. How much was cryptokitty worth at first? Is CryptoKitties still a good investment? Let's see.
Crtptokitty: How Much Was Cryptokitty Worth At First?
CryptoKitties are digital collectibles used to play the game of the same name. Each CryptoKitty is unique in both its apparent appearance and the genetic traits that determine its rarity.
Players can buy, sell, and breed CryptoKitties. When two CryptoKitties are bred, a new one is formed with Attributes based on the genes of both of its parents. There can also be mutations, where a newborn will have a trait that it didn' t inherit from either of its parents.
One CryptoKitty sold for more than $100,000 in Ethereum (CRYPTO:ETH) just days after the game's launch, and it had already made over $1 million in sales.
Is CryptoKitties Still a Good Investment?
To be fair, CryptoKitties are not meant to be an investment, hence they are not a good one. The website for the game makes that clear. It says that "this is a game centered on collecting digital cats, not an investment portfolio or a get-rich-quick opportunity," and advises new players to have realistic expectations.
CryptoKitties should only be purchased if you are interested in the game. Even if it might be profitable if you're lucky, it's not worthwhile to pursue it as a venture. There are better options if you want to invest in cryptocurrencies and blockchain projects. Start with Bitcoin (CRYPTO:BTC) and Ethereum, the two most popular cryptocurrencies. If you want something that is simple to invest in using a standard brokerage account, you can also try cryptocurrency stocks.
Hopefully, reading this article, "How Much Was Cryptokitty Worth At First? Is CryptoKitties Still a Good Investment?" can help you to understand it better.
