The blockchain technology the earliest attempt at integrating the technology into the gaming industry birthed CryptoKitties.
CryptoKitties is a blockchain based virtual reality game released in March 2017 which allows players to purchase, collect, breed and sell virtual or cartooned cats.
CryptoKitties being one of the very first blockchain based game, and its choice of pets as collectibles made the game an instant success and endeared many.
In December 2017, a CryptoKitties player splashed as much as $155,000 to purchase a single kitten within the game.
The Success of CryptoKitties
CryptoKitties entered the market at a time when blockchain projects were exploring the application of the technology in the gaming industry.
CryptoKitties also bears significant similarities to the famous Pokémon GO (the most beloved collectible), and its choice of animal made it appeal to a greater audience which helped its membership base.
When placed against other blockchain based games, the growth of CryptoKitties has been unparalleled.
In December 2017 Etherscan reported that Ethereum registered a six-fold increase in pending transactions just one week after the virtual reality game launched officially.
In response to this, Ethereum miners increased their gas limits for more data per block and increased transaction fees.
CryptoKitties grew to significant heights that concerns were raised as to the effect of its growth on the Ethereum blockchain.
Garrick Hileman, a blockchain analyst, and developer from the University of Cambridge in 2017 reported that the popularity of CryptoKitties was using up a significant amount of available space for transactions on the Ethereum platform.
CryptoKitties Has Plummeted
At its peak, CryptoKitties was able to cause enough traffic to cause a restructuring in Ethereum’s network to make up for its demand, however, the current state of CryptoKitties is in no way comparable.
A report from blockchain analytics, Bloxy, and Diar, shows that the activity within CryptoKitties is hitting an ebb so low it could spell the end of the project.
At its peak in December, CryptoKitties recorded daily transactions of over 80,500, this figures this month are down by 98.4%.
According to Greylock partners, daily active users on CryptoKitties hover around 300.
In March, Andreessen Horowitz and the Union Square Ventures handed $12 million to CryptoKitties to save the beloved blockchain game.
However, over the space of 3 months, the funds bottomed out, and the once active CryptoKitties ecosystem looks more deserted than when it first began.
CryptoKitties has suffered at the hands of the faltering crypto market just like everything blockchain based.
Another major issue the virtual cat’s platform faced is the problem of investors looking to make quick returns just as they do with digital assets.
Investors looking to make quick returns dump the asset to the peril of the project.
Can CryptoKitties Become the Next Pokémon GO?
The answer would be a definite no, however, looking at the statistics of the blockchain based game it may well have the ability to become the next big game if structures are put in place to check in-game exploitation, perhaps migrating to a MainNet of its own could save the blockchain kitties universe.