CryptoKitties is one of the oldest and most well known Non-Fungible Token collections out there, launching just a few months after CryptoPunks in late 2017.
CryptoKitties ownership is tracked via a smart contract on the Ethereum blockchain. This means the NFTs can be bought, sold, or transferred digitally, with strong guarantees of ownership.
These NFTs were distributed automatically, via a smart contract, at the rate of one every 15 minutes (672 per week) for one year. Eventually there were 34,928 Gen 0 Kitties produced over that year and, as of December 2018, the team minted an additional 3,087 Gen 0 Kitties on top of that. The remaining 12,000 Gen 0 Kitties are kept by the team to be released for special events and campaigns.
Even though there can only ever be 50,000 Gen 0 Kitties, the cool thing about this NFT is that the community can keep breeding new cats. Each CryptoKitty has a distinct visual appearance (“phenotype”) determined by its immutable genes (“genotype”) stored in the smart contract. The new offspring will be a genetic combination of the two parents. In each pairing, one CryptoKitty will act as the sire and will have a short recovery period (which increases each time they sire) before being able to engage in another pairing. The other CryptoKitty will incubate the new kitten, during which it can’t engage in another breeding.
The community plays an active role in creating new CryptoKitties and using them in a variety of Metaverse games that can be found here. NFT holders can use existing code and open-source resources to create a project via the “CryptoKitties Developurr” program. Hence, it is not just another digital asset to be used as a store of value, but to constantly engage in new opportunities within the ecosystem.
Please contact support@hextrust.com if you would like to learn more about opportunities with CryptoKitties.