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Look at the data behind the sudden rise and fall of CryptoKitties

Larry Cermak
CryptoKitties, one of the first games built on Ethereum, arguably brought NFTs (non-fungible tokens) to mainstream attention. But now, more than a year later, the game has faded into obsolescence. The post Look at the data behind the sudden rise and fall of CryptoKitties appeared first on The Block.

CryptoKitties, one of the first games built on Ethereum, arguably brought NFTs (non-fungible tokens) to mainstream attention. But now, more than a year later, the game has faded into obsolescence. 

CryptoKitties boomed in popularity in December 2017 — at the peak of the crypto bubble. The game consumed around 15% of Ethereum’s traffic and drove the median transaction fees to upwards of $3, which is more than 100 times higher than the current fees.

Because of CryptoKitties’ early success, the enthusiasm around blockchain-based games was high and hundreds of copycats started popping up. In March, Dapper Labs, the company behind CryptoKitties, raised $12 million from Andreessen Horowitz and Union Square Ventures amongst others. 

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