I'm sure everyone on this crypto platform is more than aware of Crypto Kitties.
If you need a little tutorial @brittuf has this little offering... in fact, he's got a heap of posts if you wanted to check out Steemit:Trending:CryptoKitties.
I'm not going to talk about getting set up, I want to chat about making fat wads of $$CASHMONEY!
Can I make money from CryptoKitties?
You can... but you have to be a little bit smart, a little bit lucky and have a strong hand.
I've spent about $290USD on CryptoKitties so far... and my 17 kitties are now valued around $640USD.
Like any marketplace though, the value is always determined by the demand... if everyone decides that no one cares about this digital assets then they are effectively worth $0... and I've thrown away $290USD which is about $77,000AUD (haha).
However, if the demand is there... and it seems to be right at the moment, then you could make quite the killing.
This guy below sold for $63,000 and is now for sale at 100 Ethereum:
Kitty No 1 was obviously the very first kitty and is the most rare.
You can see on Kitty Sales that the most rare hasn't actually fetched the biggest price as yet:
So, like anything, the usual market forces exist... if the demand is there, you can absolutely make money, it's all based on rarity. The more rare your kitties are, the more money you can make.
Why are Crypto Kitties so popular?
Crypto Kitties, in my opinion, hit that perfect storm of Crypto Enthusiasm, Cuteness, Nerdiness and Luck.
The kittens are super cute... and the thrill of breeding kitties to get a rare one can't be beat. At a game level, it can be as deep as you want to go... you can get right into genome and DNA sequencing to produce the perfect kitty, as long as you have luck on your side.
At a market level, every kitty has a different value... based on it's generation, it's look and it's traits.
If you breed to Generation 0 kitties together, you get a Generation 1 kitty, which is less special than it's parents, however, it might have a rare trait like Serpent or Hotrod that will make it more rare and more special. On the whole though, the lower the Generation the more rare it is... because it always moves downwards.
On a collector level, they're cute and are highly prized. It's a super fun game trying to breed your perfect kitty. You never know, you could breed a kitty that doubles your catfolio in a heart beat. You could make a living from it and the next system upgrade is apparently going to add an RPG element to the game... so you can fight your kitties.
Kitties are born all the time... the market is ever expanding and hopefully the demand keeps up with that expansion. As the market expands... the rarity of kitties around now should increase. A rare kitty now could be super rare in a year.
I'm a huge fan of the Dracula kitties, and have purchased 2 in order to breed my own army of Vampires.
How do you make money from Crypto Kitties?
There are three ways:
Option Number 1.
Buy a rare kitty and sell it for more.
Option Number 2.
Try and breed rare kitties and sell the offspring.
Option Number 3.
Pimp out your kitties for Siring.
To breed a kitty costs between $6 and $9 USD depending on Ethereum costs and the strain on the network. If you breed your own kitties that's the only cost... however, if you want to breed with someone else cat, you can, but you also have to pay them the siring cost.
Which means that other people can pay you siring costs as well.
Is it too late to get in?
Honestly, I'm not sure...
There is still a huge amount of price action at the moment... the average price of the kitties sold in the last hour was $22USD, so there is clearly still demand. I just honestly can't tell whether this'll have legs or not.
Why aren't you sure if these kitties have legs?
I mean, they do, obviously... I think the future looks okay for Crypto Kitties... but it's hard to tell with so many exciting competitors coming out. If the Crypto Kitty fighting comes onboard then it should see a massive resurgence... but it's new competitors haven't really launched yet... and people might be clamouring for Gen 0 digital assets (cos that's where the money is).
It's also hard to guess what the price of ETH will do to Crypto Kitties.... if it goes through the roof like we all expect in 2018... will that increase the demand for Crypto Kitties or decrease it? I'm honestly not sure.
Crypto Kitty Resources
Info on the DNA and Cattributes - https://cryptokittydex.com/cattributes/
Go deep into Genome sequencing - https://cryptokittydex.com/
Find the rarity of your kitties - http://www.kittyexplorer.com/
Estimate on the value of your Catfolio - https://catfol.io/
Kitty Sales - https://kittysales.herokuapp.com/
What is the competition?
Crypto Fighters
Please use my referral link if you're interested (https://wn.nr/Lr2dMm).
This is the one I'm most excited about. I love the artwork and I love the thought of battling it out on the blockchain. Very, very keen for this one.
Crypto Puppies
LOOK AT THIS LITTLE GUY! Very keen to get onboard of this one too.
Crypto Pets
Why specialize in just cats or just dogs when you can make every animal a pet? Every digital asset will be unique AND 20% of all sales go to WWF. That's HUGE!
Crypto Cats
http://cryptocats.thetwentysix.io/
I dunno... I just have no interest in these guys at all. They're not cute. It's stored directly on the Ethereum blockchain, but meh, I don't care about that.
Crypto Punks
https://www.larvalabs.com/cryptopunks
Just like a CryptoCat only punkier.
I dunno. I love pixel art.. I just don't care about any of these guys. Look, to prove my love of the artform, here is a school I drew in Photoshop. It was part of a project where everyone would add blocks to a city. It was great.
Everyone else at PixelDam was just incredible.. but it was my first effort and I had a lot of fun doing it. Here is what everyone else is smashing out:
So, yeah, I like pixel art. Just not pixel art stored directly on the blockchain apparently.
Hash Puppies
In a genius approach, everyone who had any NEO cryptocurrency will be airdropped their Hash Puppy. It's very clever but I entirely missed out on this. I don't think I'll get into it to be honest.
Etheremon
I really like this art style, and obviously borrows a lot from Pokémon... so the IP is very familiar for people... I just honestly don't have enough cash to get into this too.
So, will I make money from CryptoKitties?
Yes... you'll need a touch of smarts and some luck, but I honestly think there is still some decent money to be made, especially since it is a hell of a lot more fun than just trading cryptocurrencies. You can literally make money from nothing... if you're able to find a buyer. 2018 will be very interesting!
The game is only a month old... with a great development team. While the other digital asset games are scrambling to catch up to CrytoKitties, it can continue to innovate. Similar (by on a way smaller scale) to how other MMOs try and take out World of Warcraft but it's had so much longer to develop.
Please let me know if you're keen on any of these digital assets... I've love to talk more about all of these options.