Context
Their cuteness’ success from late 2017 – early 2018 caught everyone off-guard because of the collector prices. Everyone wanted their CryptoKitty, everyone wanted their little fragment of , transactions went on and on, and gas prices hit the moon.
Remember, we are on January 6th, 2018, can be bought at around $1000 and the average Gwei is at around 90 (with a peak at 40,000).
So what does that mean in the game? Let’s take for example the “Breed” action (this action makes you… breed two kitties to create a new one). You’ll need 119,000 Gas (250,000 at maximum) to complete the transaction and pay 0.008 Eth for CryptoKitties’ fee.
Multiply the result with the average price of gas, the cost of this task will have cost you $18. And as we’re speaking only with an average price, it will take hours or even days for your NFT to get in your .
119,000 x 90 Gwei = 119,000 x 0.00000009 = 0.01071 ETH
And if you were in a rush to have your baby cat:
250,000 x 40,000 Gwei = 250,000 x 0.00004 = 10 ETH
This was a time were transactions were slow and expensive, but somehow, CryptoKitties reached the peak of popularity in this period. What CryptoKitties really succeeded in was to popularize non-fungible (NFTs) and highlight their unique selling properties.
Moreover, dozens of media (in crypto and more) wrote about the 10-15% ’s obstruction caused by CryptoKitties but since it was one of the only intuitive and easy-to-use -games available on the market, this promotion made them the leader of this new emerging market.
Published at Thu, 25 Apr 2019 09:22:48 +0000
