[2018-09-04] Someone just bought a cryptocurrency cat for $172,000

[torkinakiza]

Someone just bought a cryptocurrency cat for $172,000

Meet CryptoKitty #896775. Her name is Dragon.

She has chestnut coloured eyes, her base colour is "cottoncandy". According to her bio she "bit Rebecca Black once" and finds spying on neighbours "exhilarating".
She is a digital cat and Tuesday someone bought her for the equivalent of $172,000.

Yep, that's $172,000 in US dollars, or 600ETH (Ethereum) to be precise. Welcome to 2018.

She is now owned by the user Rabono.

CryptoKitties are essentially digital collectables that you can breed and they're valuable in the way that, for example, a rare Magic: The Gathering Card is valuable. Or a rare baseball card.

Essentially, since CryptoKitties are on the blockchain, Dragon (or 896775) is completely unique and cannot be replicated. The people behind CryptoKitties are slowly releasing "Gen 0" kitties, and they are capped at 50,000, but they can breed.

This means that Gen 0 cats tend to be the most valuable.

Which is why Dragon selling for $172,000 is extremely strange. For context, the average price paid for a CryptoKitty is $60. The median price is $9. If you look at previously huge CryptoKitty sales, they have one thing in common: They're all very old. The second most amount of money paid for a CryptoKitty was $110,000 back in December 2017. That was for CryptoKitty #18. The same day someone paid $107,000 for CryptoKitty #4. Both are Gen 0.

Also both are among the first CryptoKitties ever created and therefore have a high value. Dragon is different. She is #896775, a ninth-generation digital cat. It's hard to figure out why someone paid so much for her. Even if she is cute and bit Rebecca Black once.

CryptoKitties informed us it doesn't publicly comment on large sales or investments, but told us there are a number of potential reasons for investing so much in a seemingly worthless digital cat: "maybe there was a personal connection the buyer had to the cat or the seller.
"Maybe they really, really, liked how that CryptoKitty looked."

It is a very cute, digital cryptocurrency cat.

:::Sourcehttps://www.cnet.com/news/cryptokitties-bought-a-digital-cat-for-172000/:::

[veleten]

...or maybe there was nothing else newsworthy to write about 
600 eth for a digital tomagochi is crazy, but if you are into this kind of things and have more eth than you can spend in a lifetime, why not?
besides the kitty is rumoured to be very cute
cryptokitties are the pioneers in this business, now the sites like that are popping like mushrooms after a rain
so maybe an early horse or a hedghog bought for a tenner could make you a fortune later on,who knows

[Oilacris]

...or maybe there was nothing else newsworthy to write about 
600 eth for a digital tomagochi is crazy, but if you are into this kind of things and have more eth than you can spend in a lifetime, why not?
besides the kitty is rumoured to be very cute
cryptokitties are the pioneers in this business, now the sites like that are popping like mushrooms after a rain
so maybe an early horse or a hedghog bought for a tenner could make you a fortune later on,who knows

Personal interest or just risking out some amounts for potential fortune later on. This is how some people do have the money can put up so much risk on buying something.I cant even afford to buy a $10 digital cat and how much more if it do talks about hundreds of thousands?

[veleten]

...or maybe there was nothing else newsworthy to write about 
600 eth for a digital tomagochi is crazy, but if you are into this kind of things and have more eth than you can spend in a lifetime, why not?
besides the kitty is rumoured to be very cute
cryptokitties are the pioneers in this business, now the sites like that are popping like mushrooms after a rain
so maybe an early horse or a hedghog bought for a tenner could make you a fortune later on,who knows

Personal interest or just risking out some amounts for potential fortune later on. This is how some people do have the money can put up so much risk on buying something.I cant even afford to buy a $10 digital cat and how much more if it do talks about hundreds of thousands?

if you cannot afford to buy a 10$ digital cat, then maybe rethink your earning schemes 
but for some it is the soup thats too weak , for some its the diamonds that are too small - if there are people buying pieces of code with a cat picture for 600 eth
means it is worth 600 eth at that point in time  and that someone is willing to pay that much for it
this is the usual misconception about "oh it cannot be worth that much" same as cryptocoins prices and many other things
always the supply/demand model:if it is sold or bought at 6400$ now, means that it is worth exactly that today
it may cost 5.000$ or 100.000$ tomorrow or in a year's time but only if there are byers willing to buy it