The company doubled its valuation in this round. In November 2018, Dapper Labs, which was spun out of Axiom Zen as the developer of CryptoKitties, raised an additional $15 million in a venture round led by Venrock. In October 2018, CryptoKitties reached the milestone of 1 million cats being bred with a volume of 3.2 million transactions on its smart contracts. The court ruled in the company's favour, stating that "he evidence demonstrates that Defendant, not Plaintiff, developed the idea to license digital collectibles using the likeness of celebrities first…". The company was later sued for trade secret theft over the Stephen Curry collectibles. The company later suspended the auction, claiming that Stephen Curry was not as involved as they initially thought. As part of the partnership, Curry was given three CryptoKitties with special imagery, the first of which he put up for auction. In May 2018, CryptoKitties launched their first celebrity-branded CryptoKitty with Stephen Curry, an American professional basketball player. The investment round was led by New York based Union Square Ventures and San Francisco based Andreessen Horowitz. On March 20, 2018, it was announced that CryptoKitties would be spun off into its own company, Dapper Labs, and raised $12 million from several top venture capital firms and angel investors. As of December 2, 2017, Genesis, the first high selling cat was sold for ETH246.9255 (~ US$117,712) on that day. Ī test version of CryptoKitties was unveiled at ETH Waterloo on October 19, 2017, an Ethereum hackathon. The company released some of the art under a new 'Nifty' license that lets players use the image of their CryptoKitty in a limited way. However, the CryptoKitty art is not on the blockchain and is instead owned by Axiom Zen. ![]() Users can interact with their CryptoKitties, having the ability to buy, sell, and sire (breed) them. CryptoKitties cannot be replicated and cannot be transferred without the user's permission even by the game developers. Each is unique and owned by the user, validated through the blockchain, and its value can appreciate or depreciate based on the market. Each CryptoKitty is a non-fungible token (NFT). Background ĬryptoKitties operates on Ethereum's underlying blockchain network. The virtual cats are static images that can only be purchased, bred and sold. There is a 'cooldown' time that indicates how soon the cat can breed again, which goes up with the number of breeds, capped at one week. While they can only engage in one breeding session at one time, each cat is able to act as either matron or sire. Ī CryptoKitty does not have a permanently assigned gender. ![]() Other features like cool downtimes are not passed down, but are instead a function of the 'generation' of the offspring, which is one more than the 'generation' of the highest 'generation' attribute. There are a total of 12 cattributes for any cat, including pattern, mouth shape, fur, eye shape, base color, accent color, highlight color, eye color, and optional wild, environment, 'purrstige' and 'secret'. Several traits can be passed down from the parents to the offspring. The virtual cats are breedable and carry a unique number and 256-bit distinct genome with DNA and different attributes (known as "cattributes") that can be passed to offspring. Players must purchase Ether cryptocurrency to join the game, and spend it to perform each breeding and trade action within the game. Players purchase, breed and trade virtual cats that have different visual features of varying levels of rarity. CryptoKitties is the first major game to use blockchains, and one of the earliest examples of a blockchain project designed for recreation. Both companies are based in Vancouver, Canada. ![]() The game's popularity in December 2017 congested the Ethereum network, causing it to reach an all-time high in the number of transactions and slowing it down significantly. The game allows players to buy, sell, and create NFTs using on Ethereum. CryptoKitties is a blockchain game developed by Canadian studio Dapper Labs.
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