CryptoKitties: Is it a Digital Cat or Currency or Collectibles?

In October of 2017, Bryce Blandon founded CryptoKitties on Ethereum, a blockchain platform. Since then it has made its way into the Crypto-market. CryptoKitties is a game centered around breeds and collectibles which cannot be replicated, taken away, or destroyed. The game requires users to trade and procreate virtual kittens between the established store and other users on the Ethereum blockchain. The chain's valuable digital coin, ether, is loaded on a virtual wallet for use in-game.

The value of the NFTs which are technically known as Non-Fungible Tokens keeps changing over time. It follows a structure that is similar to traditional collectible card games like Pokémon and baseball cards. At the present time, such cards sell for a generous premium, similar to the structure that is followed by CryptoKitties. Just like other crypto-entities, CryptoKitties and NFTs have a report with official information and schemes too. 

Surprisingly, the value of the Cryptokitties is determined by the supply and demand of the breed. If demand is worthwhile, it can be offered for sale to other players for a profit. The digital kittens are available from a dollar downwards to six figures upwards. CryptoKitties are not currency, they are crypto-collectibles. 

There is a website for CryptoKitties which explains the processing fee to the trade. The Gas and Fees guide available on the webpage states, "Whenever you buy, breed, and create or cancel an auction, your request gets sent to miners on the Ethereum network who crunch the numbers and confirm the transaction. For that service, the miners receive a network fee paid by the person submitting the transaction request. That fee is determined by two factors: the 'Gas Price' of your transaction and the amount of gas used to process it." But there is a market limit that sets the maximum amount of computational power they'll allow the miner to use before they top out and stop processing your request.

CryptoKitties transactions soon amounted to 12% of all Ethereum transactions. CryptoKitties began to increase exponentially in value, with one CryptoKitty collecting 600 ETH, which is US$172k.