Blockchain games have people collecting digital cats, celebrities, and art
Cryptocurrency trading may be facing tumultuous times, but consumer interest in the space is rapidly rising nonetheless. Now, new games built on blockchain technology, the same breakthrough that makes things like Bitcoin and Ethereum possible, are poised to be the next crypto craze, even becoming what Farmville was to social media or what Angry Birds was to smartphones.
The virtual kitties are facing a fresh round of competition from some familiar faces—celebrities. The CryptoCelebrities game lets people buy smart contracts of famous, and some not-so-famous, celebrities like Angelina Jolie, Leo DiCaprio, or Vladimir Putin. The moment someone purchases a contract, it automatically increases up to double in price. However, when someone else matches the current price, they’ll automatically snatch the contract. The original owner will lose the contract but receive up to double the amount they originally invested in Ethereum.
One of the world’s first blockchain games, CryptoKitties, lets people collect and breed digital cats. Users can buy, sell, or trade their CryptoKitty as if it were a traditional collectible, but unlike traditional collectibles, a pair can be bred to create a brand-new, ‘genetically unique’ offspring. Each cat is one-of-a-kind and 100% owned by the individual; it cannot be replicated, taken away, or destroyed. The game recently became such a hit that it slowed down the Ethereum blockchain, and one cat was even flipped for $60K in just four days.
Another Ethereum-based platform could change the way people think about digital art. The experiment, CryptoPunks, lets people own one of 10,000 punks whose image is tied to a piece of computer code, meaning the owner of each piece of art is clear. That ownership can be transferred, resulting is a finite set of artistic expressions that can be bought and sold similar to traditional art. Originally, they could be claimed for free by anybody with an Ethereum wallet, but all 10,000 were quickly claimed and now must be purchased from someone on the Ethereum marketplace contract.