You probably remember CryptoKitties. Known as the killer dapp for Ethereum, the collectible cats were part of the crypto craze and, despite losing a lot of value, it looks like they now have been doing just fine.
In fact, CryptoKitties held its value pretty well. The Ethereum-based crypto kittens were so successful back in 2017 that some kittens were sold for over $100,000 USD. Now, Caty Tedman, from Dapper Labs, has affirmed that the company still has a sustainable business and a good user base, as well as affirming that the CryptoKitties retained most value than most other cryptos during the bear market.
On her interview to Yahoo Finance, Tedman has affirmed that the daily engagement of the product may be down, but at its peak, it was “sheer madness”, so she knew that the numbers were not fully sustainable. This does not mean that people have forgotten their kitties, though, as some people are described by Tedman as being very engaged with it.
Highlight: ”We are able to bring new people into the crypto environment,” says @CatyTedman [email protected] on breedable cats stored on blockchain. “There are a ton of developers working on blockchain respects. … I was surprised how much I loved the cats.” pic.twitter.com/OmXlOMOrwC
— Yahoo Finance (@YahooFinance) February 27, 2019
Some of the audience is not registered on the blockchain as well, so the numbers are probably higher than the ones that appear officially.
CryptoKitties was a very important initiative because it also helped to educate people about the blockchain technology and explain to them how to use it. For instance, two people cannot purchase the same cat token, so they will be unique and immutable, which helps to describe how the technology actually works.
According to Tedman, 25% of the people who bought CryptoKitties never actually invested in cryptos before doing it, so it also helped to get a lot of people onboard the crypto train and it was an important effort to consolidate the user base of crypto products.
CryptoKitties Outperformed Many Cryptos
According to Tedman, CryptoKitties, as literally any other token in the market, has seen its prices taking a tool during the bear market. No token remained unharmed from the crypto winter and it would not be any different in this case.
However, when compared to some other cryptos, she affirms that CryptoKitties is considerably more valued now. Some cryptos lost almost all of their value while the kitties remained strong.
In fact, the company is now even expanding in order to take its business forward. It looks like we will see CryptoKitties for a quite a while still.