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Virtual Racing Car in Blockchain Game Sells for Over $110,000

An unknown user bought a unique, virtual racing car for the upcoming blockchain-based game F1 Delta Time for 415.9 ETH ($110,600).

An unknown user bought a virtual racing car for upcoming blockchain-based game F1 Delta Time for 415.9 ether (ETH) or $110,600 at the time of sale, according to information on the game’s website.

The virtual racing car — the “1-1-1” — is the first model to be issued and is also one-of-a-kind, with the auction page promising to never release more. The company behind the game, Animoca Brands, ran an auction for the limited edition model in ether for four days, before selling the crypto collectible to user “09E282” after received 31 bids.

In late March, Animoca Brands partnered with Formula 1 to ship the game, in which players collect virtual F1 cars and race against each other. According to the game’s official website, there are competitive in-game advantages to owning particular car models:

“The game will center around the collection and trading of unique Cars, Drivers and Components – all of which will exist as non-fungible tokens (NFTs) based on the ERC-721 token standard. […] Tokens are produced in limited quantities as determined by their level of rarity, with the rarest tokens possessing the most impressive racing attributes.”

Crypto collectibles are a relatively recent innovation, in which companies use blockchain technology to track and authenticate virtual collectibles.

Near the end of 2017, the popular Ethereum-based game CryptoKitties had sold over $12 million of its collectibles, with the most expensive item in the game going for over $120,000.

Similar to how bitcoin (BTC) operates, the total supply of Cryptokitties is fixed, meaning scarcity helps to drive and maintain their value; unlike bitcoin, however, the kitties are an example of NFTs, which are non-homogenous and indivisible assets.

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Opera Wallet now Allows Sending of Cryptokitties and ERC-721 Collectibles

Opera Browser, the popular web browser known for its fluidity, seems about to become the favorite browser in the community of crypto-traders. Last August Opera announced that it would integrate a native wallet into its browser, facilitating the operations of thousands of users.

Opera Wallet, initially available in its desktop version and later in the Android version, turned out to be a fruitful decision that came after a Bitmain announcement in which they would invest approximately 50 Million USD in Opera Ltd shares.

Thanks to Opera, users no longer needed extensions and complicated steps to perform their operations and connect their wallet to the mobile app. A simple QR code scan was now enough to access the service.

Opera: Believing in Crypto (Collectibles)

However, the popular browser has decided to take a step forward and a few hours ago announced an update on its crypto-wallet service, allowing now the possibility to send crypto-collectibles directly from within the wallet without having to use exchanges:

“We are big fans of collectibles. They are unique digital things you can own on the blockchain and collect in your wallet. We believe that as an increasing portion of our lives moves online, so will our collections of things (…)

We’re now innovating by allowing you to send crypto-collectibles directly from the wallet to the person you want to, something that previously required visiting a digital marketplace and trading them.

We have changed this and made sending crypto-collectibles as easy as sending money via Venmo in the U.S. or Vipps or Swish in Scandinavian countries. We feel this makes them more tangible from a user’s perspective.”

The Opera team expressed its enthusiasm towards the crypto-collectibles boom. In the press release, they commented that this trend is just beginning and that its use will increase over time.

They also commented that crypto collectibles have potential uses beyond pure fun.

“We also see the possibility for these unique tokens to unlock access to content or verify eligibility for certain digital services.

ERC-20 vs ERC-721

The exchange of tokens under the ERC-721 standard differs from the ERC-20 as each token is unique and cannot be replicated. While a person may have (for example) 1 OMG, if they sell it on an exchange and then buy back 1 OMG, the user does not care which token they have within that mass of more than 140 million tokens. OMG is an ERC 20 token running on the Ethereum Blockchain

Picture of a cryptokitty

However, if a user has a cryptokitty (ERC-721 token), and sells it unless the buyer wants explicitly to resell that same cryptokitty, they will never have it again. For this reason, each of the cryptokitties has its own value, and it is not the same to have a cryptokitty with a value of 600k USD to have one with a value of 1 USD, even though both are ERC 721 with essentially similar characteristics.

The ERC-721 support service is available in beta version from today. To use it it is important to sign in at this link

The post Opera Wallet now Allows Sending of Cryptokitties and ERC-721 Collectibles appeared first on Ethereum World News.

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World’s Most Expensive CryptoKitty Sold For 600 ETH ($170,000)

The 896,775th CryptoKitty Sells For 600 ETH

Image Courtesy of Axiom Zen

Even amidst a bearish market, some users still seem to want to pour their hard-earned crypto funds into popular DApps and smart contracts. As reported by CNET, the 896,775th CryptoKitty, named Dragon, has just been sold for 600 Ethereum (ETH) or the equivalent of $172,000 at the time of the sale.

Upon first glance, Dragon may not seem like anything special, as the digital kitty ‘only’ has brown eyes, a scaled tail and no flashy features that are common in the elites of the CryptoKitty world. She is also a ninth generation in the digital kitty world, which is important to point out because higher numbered generations are often unattractive purchases for CryptoKitty collectors.

And Dragon’s description on the CryptoKitties website doesn’t seem to add to the appeal of buying her as well. Dragon’s description reads:

Salutations. I’m Dragon. I bit Rebecca Black when I was younger, but those days are gone. Believe it or not, spying on the neighbours is seriously exhilarating. You should try it some time. Let’s connect on ICQ.

Keeping these characteristics in mind, some asked why the buyer decided to purchase this seemingly mundane digital creation.

Was it a fat-fingered mistake? Did he/she/they buy the wrong cat? Is this some form of blockchain-enabled money laundering? Is there something we don’t know about the characteristics of the cat?

Regardless, on Tuesday night, a mysterious user going by the handle Rabono bought the ERC-721 cat for the aforementioned sum of 600 ETH, making Dragon the most expensive kitty to ever be sold in the DApp-based game. This title was previously held by Founder Cat #18 (Gen 0), which sold for 253 ETH ($110,000 at the time of the sale) at the peak of December’s CryptoKitties mania.

CNET reporters queried Axiom Zen, the organization behind the CryptoKitties project, about the purchase. But to the surprise of some, Axiom revealed that company policies restrict representatives from publicly commenting on interesting purchases.

However, company representatives noted that could be any multitude of reasons why Rabono might have decided to purchase #896,775, adding, “maybe there was a personal connection the buyer had to the cat or the seller… Maybe they really, really, liked how that CryptoKitty looked.”

To give the staggering $170,000 figure a bit of context, the median price of a CryptoKitty is $9, while the average price paid is $60, making the aforementioned purchase of Dragon stick out like a sore thumb, to say the least.

Crazy purchases aside, many hope that the CryptoKitties game will see a revival within the next few months because as reported by Ethereum World News previously, DApps have been in a slump across the board, with the number of active users declining by 56% overall and over 96% for the CryptoKitties game alone. So will Rabano’s purchase of Dragon spark the next CryptoKitties mania? For now, it seems that only time will tell.

Photo by Zakaria Zayane on Unsplash
Girl in a jacket

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Crypto Collectibles Site Plans to Invite Developers to Create New Games, Polls and Content

A blockchain-based platform where crypto enthusiasts can own digital collectibles inspired by public figures is planning to open up its ecosystem to developers — in the hope that new games and competitions will be added to its burgeoning marketplace.

MyCryptons launched in May 2018. The company has been developing its social media presence, and more than 2,000 tweets have been sent from its official Twitter account over recent months. These posts have often reflected topical events in the news, primarily the tumultuous state of politics in the United States.

On its website, enthusiasts are given the chance to buy Cryptons. Each represents a fictitious version of public figures, including politicians, presidents past and present, talk show hosts and musicians. They come with a custom-made cartoon, and the owner is also able to add their own witty tagline and share it on social media. Some examples include Queen Elizabeth (“Jewel in the Crown”), Eric Trump (“Don’t blame me. I was cloned”) and Donald Trump (“I am just tired of winning”).

When it comes to developing interactive content, MyCryptons also hopes to offer polls and engaging activities to its user base. Its Mating Game saw two politicians mated with celebrities, resulting in brand-new Cryptons that were an amalgamation of each pair. A portion of the proceeds of the sale of the new “offspring” Cryptons goes to the owners of the parent collectibles. Users can request particular pairs to be mated by emailing the company, but MyCryptons intends to automate this process shortly.

MyCryptons has also launched the Angry Mobs game, where users can create memes by drawing on any Crypton using an array of tools. Memes can be used to both jeer and revere someone or something, and the platform hopes its base will find this activity both fun and meaningful. It is currently free for users, but MyCryptons intends to monetize this in future and share the revenue with the owners of the Cryptons involved in the memes, potentially making these collectibles more valuable. For example, if a politician is going to jail, users can use the pen tool to draw bars on the Crypton and the text tool to write “Guilty” before downloading the image. Other fun symbols can also be added, such as a kiss, rose, dollar symbol, mustache and sunglasses — all of which can be resized and rotated.

Other games, including Flip and Flop and Truth or Dare, are under development. In all cases, the company intends to share revenue generated through these games and activities with the owners of the Cryptons featured in a starring role.

How buying a Crypton works

The price of every Crypton is clearly indicated on the website, and some of them are yet to be purchased for the first time. Once someone possesses a collectible, they can be bought out at any time, by use of a price escalation feature — and they will receive up to double the price they paid. An owner can prevent their Cryptons from being lost by paying a one-time protection fee and setting their own price.

According to MyCryptons, one of the most compelling opportunities presented by its platform is the potential to buy digital collectibles before they become popular. Though a prospective U.S. presidential candidate for the 2020 election may not be coveted right now, demand could intensify as the campaign nears.

MyCryptons is also exploring the potential for its digital collectibles to be used for charitable purposes. The smart contract being used by the platform enables special fundraiser Cryptons to be created, with all proceeds from the sale of a collectible going to a good cause instead. Once a certain target is reached — 200 ETH, for example — the Crypton reverts back to a for-profit collectible. According to the company, active discussions are already under way with a female crypto celebrity, with a Crypton in her image being prepared as the last few details are finalized.

A distinctive type of token

MyCryptons uses a non-fungible token known as ERC-721. Each of them carries unique information and they cannot be divided, meaning it’s impossible to buy half a Barack Obama or end up with two Donald Trumps. It’s this scarcity which enables the marketplace to function.

Demand for virtual collectible games is growing. As reported by Cointelegraph, another concept known as CryptoKitties recently secured $12 million in funding from a group of investors. Last year, it was reported that five of the digital kittens on this platform sold for more than $100,000, with the most expensive fetching $120,000.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

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Non-Believable Tokens: The 7 Strangest Crypto Collectibles Explained

As they say, what’s weird in tech today just might be tomorrow’s next big thing.

If that’s the case, the world of digital, cryptographic collectibles may be high on the list of potential disruptive innovations. After all, where else can you “breed” digital items and come out with an ugly cat all your own?

It’s user experiences like this, which began with Axiom Zen’s collectible CryptoKitties, that have technology enthusiasts talking excitedly about the future that could be enabled by non-fungible tokens (NFTs), or unique digital items tradable on a blockchain.

The first project to use ethereum’s ERC-721 standard, CryptoKitties has since been rolled out into a standalone company with backing from some of the industry’s top investors, while NFTs themselves have become one of tech’s hottest buzzwords. (Coinbase Ventures’ very first investment was in a sort of eBay for NFTs, after all.)

In other words, CryptoKitties has been seen as a harbinger of things to come for blockchain believers, one that opens up new possibilities in the world of video games, real estate and precious metals, among other things.

For those keeping score at home, though, these things are still just super weird. Comparing the state of play to social media, we might very well be in the Six Degrees and Makeout Club days (i.e. way before people got it and Facebook became one of the biggest companies in the world).

With that in mind, we decided to go out looking for some of the stranger, most creative NFTs.

Here’s seven that looked like they could be ones for the history books, if not always for the right reasons:

CryptoCrystals

CryptoKitties introduced the idea tokens could breed and create totally new tokens, and lots of the new projects are now coming up with different ways to play around with that idea.

CryptoCrystals, for instance, breeds “sentient metals” into new cartoon characters that evoke geological imagery. With CryptoCrystals, “breeding” is called “melting” – as in the crystals are melted together.

The way to get fresh crystals is to go “mining,” but it’s not mining like on bitcoin or ethereum (where your computer does work to secure the network). Instead, users just buy a sort of token called a “pickaxe” from the company and use it. This generates a variable amount of crystals. (It’s like opening a pack of cards.)

The company behind the game makes its money from selling the pickaxes (sharing a portion with the Ethereum Foundation, voluntarily, to support the network’s growth). The rest of the operations in the game cost no more than their gas price.

There are 100 kinds of crystals out there and a finite supply. Further, pickaxes will produce half as much crystals with each passing year.

CryptoVoxels

This one is for folks that grew up on “Sim City.”

Indie game developer Ben Nolan was trying to create virtual worlds people could own and explore, when he realized that the blockchain made it possible to improve the user experience of that very task. From that inspiration came CryptoVoxels, a three-dimensional space visible with virtual reality goggles.

“We have about 100 parcels sold (average price 0.16 ETH) in the origin city, about 100,000 square feet of development,” Nolan told CoinDesk in an email.

The business model is selling these original pieces of land, as well as some other digital objects that add character to the users experience, such as special hats for their avatars.

Users can also build on their land, adding buildings and structures. Someday, there could also be color. (Right now, everything is black and white.)

Nolan says the community has showed good activity in its Discord channel, and that they are starting to see person-to-person sales of parcels on the secondary market.

Like many of these projects, its working with one of the Ebays-for-NFTs, OpenSea.

HyperDragons

Lots of the early NFT projects are on some level or another imitations of Pokemon (cute creatures that can also battle each other to get tougher and cooler).

HyperDragons takes advantage of decentralization, though, by interacting with another team’s project. In this way, HyperDragons can “eat” CryptoKitties, absorbing the attributes of cats that share a wallet with the dragon and boosting the dragons powers.

Gameplay takes three forms so far: collecting, breeding and consuming, battling warrior dragons one on one (like the original Pokemon) and castle defense, where you protect your resources from invading players.

The projects white paper acknowledges, like most projects in this space do, that real gaming interactions on ethereum are a problem, and it notes particular concern about the protocol’s ability to handle the castle game.

However, it hints that workarounds are under consideration, like we have seen in other projects.

Its emphasizes the team’s background in digital gaming, but it also addresses the business model presented by collectible NFTs. The white paper says, “We believe that there is a sustainable revenue-based model instead of an ICO, and we appreciate the innovation that digital collectibles portray.”

‘Bird in the Shell’

So, this one is really just one, specific NFT, by a nameless artist playing around with the form.

SuperRare is an app that lets artists create new digital works and offer them for sale on ethereum, something that could become more important in the art world given enough time.

In fact, one of last year’s super ICOs, Status, sees a lot of promise in SuperRare, too. It announced Thursday that it was inducting its parent company, Pixura, into Status Incubate, its accelerator for promising crypto startups.

That said, this one work of art on the SuperRare platform – it just hit a little too close to home. By “@hackatao,” it’s an animated gif in its native habitat. For anyone on Crypto Twitter, check this one out. It will feel way too real.

CryptoJingles

A digital object doesn’t have to be an image. It can also be sound (and probably other things people haven’t thought of yet).

Created as a side project by two staff members at Serbian blockchain company Decenter, CryptoJingles was started at the end of 2017.

“Coming out after the CryptoKitty boom, I noticed they are all variations of you owning some sort of an avatar (an image). I was looking what else could we tokenized,” Nenad Palinkasevic, one of the co-founders, told CoinDesk via email.

CryptoJingles are snippets of music that can be mixed together to make new pieces of music. There are 100 snippets of music that people can use to make jingles. Once a new combination has been made and recorded on the blockchain, it’s unique and no one else can make that combination. The creator owns it and can sell it on to others, as an NFT.

The project is not in active development but there have been a few super fans making lots of jingles. “There were 45 jingles created in total on our platform,” Palinkasevic said, without any marketing or promotion.

Panda Earth

Panda Earth

For this project, it’s important to start with zoological facts first: Pandas are the best mammal.

On the surface, Panda Earth might just look like CryptoKitties-but-pandas, except for one important difference: Some of the crypto pandas represent real world pandas tracked by the China Conservation and Research Center for Giant Pandas.

A spokesperson says it is a project that is “authorized” by the center, but the company didn’t respond to questions from CoinDesk about whether purchasing any of the pandas benefits their conservation at all.

Like CryptoKitties, these digital pandas breed. They breed more and more slowly over time, but that will reset every four years.

CryptoTitties

This post started when we discovered the CryptoTitties NFT (not to be confused with SpankChain’s side hustle of the same name, which is a way to directly pay women for posting their topless photos).

CryptoTitties, on the other hand, are cartoon boobs made by a development firm called 7th Wave.

“It was a spoof of CryptoKitties for fun,” Hami Gilbert, one of its founders, told CoinDesk in a Discord chat. Later, Gilbert’s mother got breast cancer and they decided to find a way to supply cannabis products to women with the disease.

Like CryptoKitties, these are cartoon avatars, but of breasts rather than cats. Fear not: there are both female-identifying and male-identifying boobs available. In fact, while the real-world variety tend to come in pairs, CryptoTitties are available in singleton to sextuplet sets.

Also, they come in as many colors as there are in a bag of Haribo gummy bears.

CryptoTitties has not caught the world on fire, though. Selling each one for as little as 0.05 ETH, the full set of available items totals 144. Only 32 have sold thus far, according to Gilbert.

Previously, 7th Wave tried to launch an ICO project called Wardz, but it didn’t succeed. CryptoTitties has gotten more traction, with a small community built around it. To spread the word about the project, they tried to run a “Motorboat Contest” where people would win an actual boat.

The idea is that CryptoTitty holders would pay 0.003 ETH to vote for their faves. The set that got the most votes would win a boat, but 70 percent of the proceeds would go to the charity (though they never established a specific partnership).

Sales were too low to justify the boat purchase, however, and it didn’t happen.

“I thought people would share to their friends to vote and that it would snowball,” Gilbert said. “But I think people are a bit more prude than that.”

Image via CryptoTitties.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Charlie Lee to Advise Development of HTC Crypto-Compatible Smartphone Exodus

Litecoin (LTC) founder Charlie Lee tweeted July 29 that he will be an advisor for HTC’s new smartphone Exodus, which will support LTC and the Lightning Network (LN).

In acknowledging Lee’s new advisory position, HTC tweeted:

“One small step for @SatoshiLite. One giant leap for blockchain.”

As previously reported by Cointelegraph, HTC is seeking to enter the crypto space with a mobile device that includes decentralized ledger technology (DLT), announcing the Exodus as “the first native blockchain phone” in May.

In June, the company clarified that the Exodus will instead contain a cryptocurrency wallet that will support Bitcoin (BTC) and Ethereum (ETH), as well as the LN and the popular gaming DApp CryptoKitties.

Lee’s tweet announcing his new role in HTC as an advisor also revealed that the Exodus would support both LTC and the Lightning Network “natively,” noting that he took on the advisory role as he “see[s] having a secure crypto phone that makes LN simple [as] needed for mass adoption.”

While the final blockchain structure of Exodus is still unclear, Lee reassured in his tweet that, “No, they will not remove BTC.”

According to Phil Chen, the creator of HTC Vive and HTC’s head of business and corporate development, the price of Exodus would be “comparable” to that of Sirin Labs’ blockchain-backed smartphone Finney, which has an expected retail price of $1,000.

Chinese tech giant Huawei also reportedly has taken an interest in developing a smartphone that will support DApps running on blockchain technology, as an unconfirmed March report noted the firm was seeking a license for the open-source operating system SIRIN OS.