CryptoKitties is a collectible cat game built on the Ethereum blockchain and only recently launched a few days ago on November 28th.
Blockchain technology is used to establish ownership of each cat and to ensure that they are all unique. You can breed, buy, and sell these CryptoKitties.
A simple analogy from their FAQ:
Woah, slow down Mr. Scientist – describe CryptoKitties in words that make sense to me
Think breedable Beanie Babies.
Bye-bye sweet love! Genesis is now the proud owner of Stimpson J. Cat 💖 pic.twitter.com/SeMRzXNLnS— CryptoKitties (@CryptoKitties) December 2, 2017
Genesis, the first kitty ever created, was sold today for 246.93 ETH, which is currently worth around $115,000.
Maybe the buyer has plans to profit off of this by breeding or reselling Genesis later for an even higher price tag. Otherwise, this seems to be an awfully high price to pay for a novelty.
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