CryptoKitties is a blockchain-based game that was one of the first of its kind in the world. You can even breed your kittens to create new ones with unique characteristics. Here is your quick guide about this NFT platform.
An NFT is a record in a blockchain, the same decentralized digital ledger technology that underpins cryptocurrencies. However, unlike most crypto, which is fungible, meaning that one coin is nearly identical to another with the same value, tokens on these blockchains are non-fungible. Although NFTs and cryptocurrencies are conceptually similar, these digital assets could represent antiques and artworks, collectibles, and other items with unique characteristics. Let us look at CryptoKitties, an NFT Collection.
What is CryptoKitties
CryptoKitties is a blockchain-based game that was one of the first of its kind in the world. CryptoKitties uses the Ethereum blockchain network, making transactions in the native currency Ether. It was created by Dapper Labs Inc of Canada and Animoca Brands Corporation Ltd of Hong Kong, its initial launch in November of 2017. You may gather and breed digital creatures known as CryptoKitties in this game. Each creature (kitty) has a genome that determines its appearance and behavior. You can also breed your kittens to create new ones with unique characteristics.
How does CryptoKitties Works
The platform works relatively straightforwardly; moreover, they also offer a dedicated Guide that constitutes everything from getting your started to Tips for beginners and their fee structure.
- The process of buying a Kitty is quite simple. You can purchase on the marketplace and buy the avatar you like, or you can use their ‘Offers’ system and make a bid for a kitty that you like, even if it is not up for sale.
- After acquiring the CryptoKitties, you can Sire them, open them for breeding, or Sell them.
- The breeding process requires two kitties, one would be the father (Sire), and the other would be the mother (dame). Therefore, you can choose two of your kitties or breed one of yours with a public sire.
- Normal, Fancy, Special Edition, and Exclusive are the four official categories of CryptoKitties. In addition, each CryptoKitty is allocated a set of 48 genes that are either visually expressed or hidden and can be identified using third-party tools.
- The platform’s fee for purchasing, breeding, and selling CryptoKitties is based on two factors: the transaction’s “Gas Price” and the quantity of gas needed to process it.
The amount of ether supplied per gas unit to pay miners to conduct your transaction is known as the gas price (Gwei), and you are responsible for determining an acceptable gas price for yourself. Furthermore, the greater the gas price you specify, the faster you will complete your transaction.
CryptoKitties was established to investigate the concept of digital scarcity, deploy a non-fungible coin within ERC #721 smart contracts, and make blockchain technology available to regular people. The popularity of CryptoKitties has resulted in a spike in crypto-collectibles, with a wide range of NFT collections being introduced regularly.