CryptoKitties Gets $12M in VC from Some Big Alley Cats

cryptokitties

OH WOW! $12 MILLION for CrytptoKitties? Not just one CryptoKitty, but rather the whole litter (company). Some really REALLY big investors including Andreessen Horowitz, Union Square Ventures and more have adopted the virtual kitten game from the ‘mother’ (Axiom Zen) and it will become its own little kitten. If you don’t know what CryptoKitties are (so sad for you) look them up and go…….GASP.……when you see one (1) sold for $100K when the game first launched. So where will this go? Seems digital collectables are going to be a BIG thing and new games will be introduced. CryptoDoggies? (too easy) CryptoDollies? CryptoBirdies? CryptoHostileBirdies (like Angry Birds…..but meaner)? OMG. That $12M may turn into a massive upside score. CryptoJealousPeople?? Meow Meow!
(Bill Taylor/Managing Editor)


“CryptoKitties, the virtual collectible kitten game that turned into a viral sensation has raised $12M in funding and will be spun out from Axiom Zen, the Vancouver and San Francisco-based design studio that originally built the game.

The round is being led by Andreessen Horowitz and Union Square Ventures, both of which have quickly developed a reputation for backing fast-growing cryptocurrency startups like Coinbase. A bunch of notable angels also participated, including Naval Ravikant (CEO and founder of AngelList), Mark Pincus (founder of Zynga) and Fred Ehrsam (founder of Coinbase) among others.

So what are CryptoKitties? They’re essentially digital collectibles built on top of the Ethereum blockchain. Each one is unique and has certain attributes that make them rare and desirable, almost like a digital beanie baby. And users are spending tons of real money on them, with some of the rarest kitties fetching over $100,000 when the game first launched.

While the startup is being pretty mum on what the future looks like and what they’re planning on using this funding for, it’s almost certain that the long term goal is to expand beyond CryptoKitties and use the same Ethereum ERC-721 collectible standard to create other game experiences, especially ones that can be played by regular people who are unfamiliar with cryptocurrency…”


Source: TechCrunch