CryptoKitties is an Ethereum blockchain-based game that allows players to adopt, raise and trade virtual cats. The collectible kitties are an example of NFTs, which means these digital felines are unique, and their ownership can be validated through blockchain.
Bullish signal for CryptoKitties
Trading volume for CryptoKitties was low over the past few months, but it surged in March. DappRadar reported that on March 1 alone, collectors spent more money on CryptoKitties than during the last ten days of February. Collectors spent 352 ETH on CryptoKitties on the first day of the month. Trading volume dropped to 228 ETH the day after, but March 3 saw another spike as players spent 469 ETH on digital cats. Collectors are now spending an average of $2,000 or more on CryptoKitties, giving a bullish sign for the legendary NFT project.
Collecting NFTs
The CryptoKitties project sees renewed interest as famous NFT collectors share their recent acquisitions. Pranksy, a whale in the NFT market with a collection worth upwards of $9 million, recently tweeted that he added new digital cats to his collection. Pranksy got into the NFT market about four years ago with the CrypoKitty mania. Collectors also look beyond virtual pets. Earlier this month, OpenSea, the largest marketplace for NFTs, reported a record transaction with the sale of a set of ten autoglyphs worth $1,441,713. Related video: How to play CryptoKitties? Explained by one of the team members at CryptoKitties.co
