Top investors gambled $12 million on the blockchain equivalent of Beanie Babies. Now, sales are plummeting.
Summary
In March, investors including Andreessen Horowitz and Union Square Ventures gave a total of $12 million to CryptoKitties, a blockchain game for digital collectibles. "Since launching CryptoKitties and running headfirst into the challenge of scaling, weve made numerous product and design decisions to reduce the number of superfluous smart contract interactions," Bladon said in an email. "From our discord community to the KittyVerse - our soon-to-launch program for developers building experiences on top of our [platform] - were delivering numerous ways to engage with CryptoKitties outside of buying and breeding them. (Blandon said he was unable to confirm any numbers regarding CryptoKitties daily active users as he was traveling, and wouldnt have access to the companys analytics until the following week. "The only way you can justify spending hundreds of thousands of dollars on a cartoon cat is if there arent enough real world use-cases for cryptocurrencies."