The value of CryptoKitties has plummeted

CryptoKitties are "digital collectibles" in the form of cartoon cats that people can buy, sell, and breed using cryptocurrency. In December someone paid US$155,000 for a single cryptokitty. In March investors who should know better, like Andreessen Horowitz and Union Square Ventures, gave CryptoKitties $12 million. In the months that followed, both the trading activity and the price of Cryptokitties has nearly bottomed out.

From ScienceAlert:

The number of CryptoKitties transactions decreased in June by 98.4 percent compared to its peak of 80,500 transactions back in December 2017, according to data from Bloxy.

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The average price of CryptoKitties seems to have decreased dramatically, as well. Blockchain analytics site Diar pegs the average price around US$5 per digital cat, a decline from what Diar suggests was its all-time median high of around US$41.

Who would have thought people would lose interest in paying lots of money for drawings of cats that look like something an earnest middle-school student would post on her DeviantArt page?

The company hopes to reignite interest in CryptoKitties by introducing two exciting game components: "KittyBattles" and "KittyHats."

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