Those currencies, just like real money, are “fungible”: that is, one bitcoin is functionally identical to another.
The name comes from the main difference between these projects and mainstream cryptocurrencies such as bitcoin or its hipper offspring Ethereum. The end result is a game, or art piece, that is somewhere between a real-world game of Pokémon, an automated replacement for the authenticity department at Sotheby’s and digital trading cards.Īnd if you want to join in, Pudding Daintytot is on sale for $1m (£710,000).Īs with so much in the cryptocurrency industry – the name for the field that has grown up around bitcoin and its core “blockchain” technology – the most eye-catching thing about cryptokitties and their ilk, beyond even the lurid colour schemes, are the sums attached to them.Ĭryptokitties were just the first enormous boom of the craze for non-fungible tokens, or NFTs. Gaming DApps need more users to be successful, DEXs need more users to be liquid… But the underpinning platforms don’t scale to accommodate them yet.Each cryptokitty is registered to a bitcoin-style database, and can be traded – and bred – according to algorithmic rules set down when the CryptoKitties service was set up back in 2017 by the Canadian startup Dapper Labs. The User Experience Needs Improvingīeyond a shadow of a doubt, if DApps are hoping to attract more users, they need to make it easier for users to get on board. That’s a rather unfortunate value drop for its owner.
Now, the average feline goes for around $1, with the most expensive currently at $15. Even if a gaming DApp came along to rival the CryptoKitty fad and convinced users to take the extra steps to play it, the network couldn’t support them anyway.ĬryptoKitties once sold a cat for $170,000. Then, of course, there’s still the very real problem of scalability. Blockchain Platforms Are Not Ready for Users
Trading cats and rolling dice aren’t appealing enough to most users. Let’s face it, the average user doesn’t care enough about decentralization to download a cumbersome blockchain-based operating system and use an inferior product. These are users with access to high definition graphics, virtual reality, surround sound, and other sophisticated gaming elements. With so much interest in the gaming market, there are some 2.3 billion gamers worldwide.
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