People had already spent millions buying and trading CryptoKitties by the time top-tier investors including Andreessen Horowitz and Union Square Ventures decided to give the company $12 million. Before the deal went through, one investor in the company told Business Insider that the product embodied one of the most important and applicable use-cases of the blockchain: The ability to safely store digital collectibles online.
But it looks like CryptoKitties itself could be in danger of becoming a short-lived novelty.
This is a little hard to read. A person I worked with is one of the people behind Cryptokitties. I'm sure he's doing fine but I'd hate for his company to become a casualty in the Blockchain business.
The number of CryptoKitties transactions decreased in June by 98.4% compared to its peak of 80,500 transactions back in December 2017, according to data from Bloxy.
Does this mean they are doing "only" 1000-1300 transactions? I'm not sure how bad of a metric that is. I don't have time to research but how much of a gradual decline has this been? If this is daily transactions, it's still a big deal.
Also, also, also, given that the company overall is a game company, isn't this an accepted trend? You spin up various games which peak, fall, and stabilise? The hype cycle as it were.
At the same time, the article says that the price of a cryptokittie is dropping and I don't know how that affects the economics of running a marketplace within the dao/Ethereum networks. I wonder if I can grab a chat with the person I know about this.