To understand the slow death of CryptoKitties, you have to start at the beginning. Has the world simply moved on to newer blockchain projects? Or is this the fate that awaits all NFTs? Newer NFTs such as “The Merge,” a piece of digital art that sold for the equivalent of $92 million, left Dragon behind as the NFT market surged to record sales, totaling roughly $18 billion in 2021. But the sky-high transaction obscured a more difficult truth: CryptoKitties was dying, and it had been for some time.ĭragon was never resold-a strange fate for one of the most historically relevant NFTs ever. And it was a headline-grabbing opportunity for CryptoKitties, the world’s first blockchain gaming hit. It was by far the highest transaction yet for a nonfungible token (NFT), the then-new concept of a unique digital asset. On 4 September 2018, someone known only as Rabono bought an angry cartoon cat named Dragon for 600 ether-an amount of Ethereum cryptocurrency worth about US $170,000 at the time, or $745,000 at the cryptocurrency’s value in July 2022. To learn more, read our Privacy Policy.Ī cautionary tale of NFTs, Ethereum, and cryptocurrency security By using our websites, you agree to the placement of these cookies. IEEE websites place cookies on your device to give you the best user experience.

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