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CryptoKitties Retained Their Value Better Than Cryptocurrencies: Caty Tedman of Dapper Labs

  • Alex Dovbnya
    📰 News

    CryptoKitties, the killer dApp that many labeled a fad, is doing just fine after the crypto crash


CryptoKitties Retained Their Value Better Than Cryptocurrencies: Caty Tedman of Dapper Labs
Contents

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.  
 

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A 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.

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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