CryptoKitty Breaks Record With Most Expensive Collectible Sold At 600 ETH

While most crypto enthusiasts are skeptical about trading in this bearish market, there are some who are willing to part with some of their digital assets in order to purchase dAapps and other crypto goodies. Trading in cryptokitties has been on an upward trajectory with its fan base growing by the day. As we speak, the 896,774^th cryptokitty referred to as Dragon has been sold for 600 ETH making it the world’s most expensive cryptokitty

Why Such A High Price For a CryptoKitty?

At a first glance, Dragon may not stand out and has the usual features of many other cryptokitties. When you first look at it the virtual kitty has brown round eyes, a scaled tail and doesn’t come with flashy features associated with these kitties. More to that, Dragon is considered a 9^th generation which isn’t considered ‘elite’ in the virtual world of cryptokitties. Dragon’s description wasn’t anything out of the ordinary.

So, did the buyer press the buy button by mistake? Was this purchase some form of money laundering venture? Is there some hidden characteristics of the cat that isn’t visible to the naked eye? Why would someone part with such a huge amount of ETH to pay for mundane looking virtual kitty on the internet? Well, that’s the question on most people’s minds.

On Tuesday, a mysterious blockchain user whose handle is Rabono spent 600 ETH to purchase Dragon. The ERC-721 cat is one of the priciest in the history of DApps based virtual games. Dragon replaces Founder Cat #18 which previously held the title that it attained in December last year when cryptokitty mania was at its peak.

Axiom Zen which is the firm behind Cryptokitties declined to diverge an information since the company had a strict privacy policy. Apparently, they are not obliged to comment on interesting purchases made by members.

The median price of a cryptokitty is $6 while the average price is about $60. From these figures, paying $172,000 for a cryptokitty is bound to raise eyebrows. Question is, will this purchase reignite the cryptokitty mania? Let’s wait and see.