By enabling trustless transactions and empowering transparency, security, and privacy, the technology holds immense potential for businesses and consumers alike. " Blockchain could be the information age’s biggest advancement since the internet. If it takes off, papers can start to write about 'Tulip Mania' in the trade of.
If no one is interested, the Project will die. These collectables can be traded online with prices set in the free market. The stated purpose of the Project is to create digital collectables. the breeding will lead to new variations of cats of different generations (Gen 1, Gen 2 etc).but cats can also be breeded with each other, either between cats of a single owner or cats of different owners (owners decide).The market place is part of their website
they sell each Gen 0 cat to the public.each cat is unique the owner thereof is recorded on the Ethereum blockchain.these cats are called 'Gen 0' cats (generation zero).the creators of the Project will release 50,000 crypto kittens until November 2018 (1 each 15 minutes).the Project runs on the Ethereum blockchain.The basic premise of the Crypto Kitties project (Project) is the following.: I decided to keep this one in mind and recently, CryptoKitties launched. People buy those cats specifically because it is an NFT, either because there is some hype around NFTs in general or because they want to sell it for a higher price, which seems assinine.Recently, I stumbled on the concept of 'Crypto Kitties' in a post at Hackernoon. this is lower than the price range my aunt is selling her art and she is not a known artist by any stretch. But nobody is buying them off like crazy. Just look at the pieces he offers on his website, they go for 750$ to 3000$, take probably 100x as long to paint as those NFTs and feel inspired and not mass produced. Buy I assume less than 10% of the buyers knew the artist before they heard of the NFT drop or would have bought the same piece if they see it offered by a street artist for 25$.Īnd this is the baffling thing: the artist would never be able to sell those pieces for this price if they would just offer the analogue pieces on their website. If you genuinely like the art and think a couple of hundred bucks is fine even if you can never resell it then go for it. I don't expect it to resell, in the same way, I don't expect a couch I buy for my appartment to have resell value. When I buy art, I buy a piece that looks good in my appartment or that has some personal connection to me. I see this argument all the time and I feel it's disingenious.
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