Niftygateway sold the one-of-a-kind Cryptokitties Koshkat, designed by the Chinese artist Momo Wang, for $10.500 through an open auction. They will donate the raised money to national food banks to support those in need. The auction was the first in the Cryptokitties Artist Series, which allows all kinds of artists from any industry to create unique kitties.
Momo Wang made a total of four designs. Koshkat is the most expensive version, as it’s a one-of-a-kind. Catterina has been limited to one hundred copies, which sold out within 3 minutes for 100 dollars a piece. In addition there will be two kittens that users can create for a short amount of time by combining certain cats and generate – or breed – a new one. The breeding event will start on May 23rd.
The fact that Koshkat sold for over ten thousand dollars doesn’t make it the memorable Cryptokitties sale of all time. In September 2018 a Cryptokittie called Dragon was sold for 600 ETH, which equaled 170 thousand dollars at that time. The first kitten generated ever, sold for 114 thousand dollars. In total there are over one hundred Cryptokitties that have sold for more than ten thousand dollars a piece.
What is Cryptokitties?
Cryptokitties is a blockchain-based game on the Ethereum network that involves the purchase, collection, breeding and selling of digital cats. Every cat features different attributes that make them unique and they cannot be replicated. Because of their uniqueness, trading Cryptokitties is quite a big business.
For example, currently a Catterina kitten is already on sale for 2.9 ETH, which is 582 dollars. If sold, that would multiple the initial investment of 100 dollars by five. Another example: In September 2018 someone paid 600 ETH for a kitten called Dragon. That’s the equivalent of 170 thousand dollars. In addition the first kitten ever, Genesis, is worth over 246 ETH.
In a world full of blockchain games, Cryptokitties is the godfather. Because this is the game that started the concept of ownership over digital assets. It was the first to use the Ethereum token standard ERC-721 and make a successful game out of it.
Also published on Medium.