The world was taken aback when the first virtual cat was sold for ETH246.9255 (~US$117,712) on December 2, 2017. Yes they are cartoon cats at first glance, yet someone shed above 100K USD for one, and players of the game are breeding thousand of these digital felines every day. It may be unclear why, but CryptoKitties are more than ordinary cartoon cats.
CryptoKitties is a blockchain game launched on the Ethereum in late 2017. The game allow players to collect, purchase, breed and even sell virtual digital cats. The game became so popular in December of 2017 that it congested the Ethereum network, slowing it down significantly. The network reached its all time high (ATH) in number of transactions. This new kind of digital asset causes excitement; especially for the players, but it can be hard to explain exactly why. It is like an experience, an unbelievable piece of art, or your beloved and adored pet — difficult to understand why it matters at all.
The value of blockchain technology.
Digital assets like Bitcoin, Ethereum, Dash, Monero etc were the only genuine application of blockchain technology for more than seven years, until new projects like CryptoKitties were created to apply the technology to gaming.
CryptoKitties is a pet game, but the fact that it gained so much popularity and a player could sell a single digital cat for as much as ETH246 in 2017 demonstrate the amount of value additive that blockchain technology hold beyond DeFi. CryptoKitties are one of the most accessible and fun-driven ways to experience blockchain technology. The kitties are unique and breedable with each possessing different characteristics like genome and DNA which can be passed to offsprings. CryptoKitties helped promote and prove there is huge value in a new class of digital assets. The game also popularise the idea that blockchain technology can be applied to any use case to create value.
Application of blockchain beyond a pet game
Advancements in technology has made it possible to develop complex graphics which are used in movies and VR games. A new Tron project; IOI-game is leveraging advanced virtual reality technology to build a blockchain-powered multipurpose platform that combines social trading, marketplace and a racing game
IOI-game is essentially an advanced racing game on the Tron blockchain similar to Asphalt racing and Need for speed. IOI-game allow players to buy cars to be used in competitions within the game. Players can also purchase game boosts and enhancers which are used to modify the cars. A very skillful player can modify his car and put it up for sale. Other players who could not enhance their cars can trade modified cars easily.
IOI-game offers a fun-packed experience of a racing game through blockchain and an opportunity to earn while playing. The platform has a native token called IOI which is crucial in the running of the platform. The tokens are used to purchase upgrades, buy and rent cars in the game. Users are rewarded with IOI token for overcoming a certain limit, breaking milestones in the game or bringing new participants to the platform. The opportunities to earn IOI tokens are enormous.
Wrap up
CryptoKitties is the first game on the blockchain to scale massively and soar both in popularity and in value. The kitties were the collectables that serve as the currency of the game. Players breed, tend and sell their CryptoKitties to other players which is similar to how cars are enhanced, upgraded and sold on IOI-game.
The difference however is that IOI-game is utilising new generation VR technology to develop advance graphic for the game. This will allow the players to have real life feel to the game. IOI-game has a working prototype (MVP) which is being enjoyed by thousands of players even before the launch.
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