CryptoKitties Creates Virtual Kitties on the Ethereum Blockchain

Cryptocurrency Owners Have Already Spent Almost $2 Million On CryptoKitties In Just A Few Days

CryptoKitties Slashing Through The Ethereum Blockchain

For those not in the know, blockchain systems revolve around tokens, or virtual assets owned by individuals and not under the control of a central owner. The most famous blockchain is Bitcoin, but the market-driven principles that guide blockchain systems can be applied to almost anything.

In the Ethereum blockchain, that application is now focused on the CryptoKitties craze.

The game was just launched a few days ago, but CryptoKitties is already at the top of all transactions within the Ethereum network. As of the time of writing, CryptoKitties has taken up 14 percent of all transactions over the last 1,500 Ethereum blocks.

The transactions, in addition, are not just worth an odd dollar or two. At the time of writing, there have already been 18,516 unique cats of CryptoKitties sold for a total value of a whopping $1.7 million. The average sale price for each cat is $80.68, and the most expensive virtual kitten was sold for a mind-blowing $117,712.12 at the time of the sale.

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Paul Gordon is the publisher and editor of iState.TV. He has published and edited newspapers, poetry magazines and online weekly magazines. He is the director of Social Cognito, an SEO/Web Marketing Company. You can reach Paul at pg@istate.tv