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CryptoKitties Retained Their Value Better Than Cryptocurrencies: Caty Tedman of Dapper Labs
At the height of the bull market, CryptoKitties, an Ethereum-based decentralized app, was thriving, earning an eye-popping $100,000 for one kitten. Now, Caty Tedman of Dapper Labs tells Yahoo Finance that the company still has a sustainable user base, and virtual cats actually retained more value than cryptocurrencies.
Patrick ThompsonA bigger picture
Tedman reveals that their daily engagement is down from the peak, which she calls ‘sheer madness’. However, it doesn’t mean that the ‘killer dApp’ of 2017 is done — according to Tedman, they still have a ‘great and engaged’ community. Yes, CryptoKitties do not have many active users, but the thing is that not all activities are registered on the Blockchain. Hence, their audience is not restricted to their on-chain numbers.
Bringing in new people
Remarkably enough, CryptoKitties is far more than a fad of the crypto craze — it helped educate the general public about the basics of Blockchain. Two users cannot purchase the same kitty, so it will be unique by proxy due to an immutable nature of the technology that underpins it.
Moreover, as Tedman claims, 25 percent of their users never owned cryptocurrencies before joining the game, so they are able to bring new people into the crypto environment.
Outperforming cryptocurrencies
When asked about CryptoKitties’s parent company Dapper Labs, Tedman said the cryptocurrency prices took their toll, but the kitties retained their value better than currencies. Their company has expanded to more than 100 people.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Arman Shirinyan
Dan Burgin
Vladislav Sopov