CryptoKitties will Break Into China with Huge Partnership
The first blockchain game CryptoKitties exploded onto the cryptocurrency market in late November 2017. To date, the game has 274,615 sales with over $19.35 billion USD sold. Built on the Ethereum blockchain, CryptoKitties uses Ether (ETH) as its in-game currency. The top digital cat within the entire game sold on December 6th, 2017, for 253.33 ETH which at the time, was worth $110,707.16 USD. That same cat is now worth $299,444.07 USD.
Those numbers suggest that the game has been a massive success thus far. Following on from this, it was announced that the game developer Animoca Brands agreed to purchase a 60% stake in US-based-company Fuel Powered. Fuel Powered currently has commercial agreements with Sega and Vancouver-based Axiom Zen. Axiom Zen, the publisher of CryptoKitties, finalized an agreement with Animoca to distribute the game across China.
In an exclusive interview with CryptoCurrencyNews, CryptoKitties co-founder, Benny Giang, said: “We’re incredibly excited to show China and the rest of the world that blockchains potential goes beyond cryptocurrencies like Bitcoin.”
The biggest obstacle CryptoKitties faces is the current scalability crisis of the Ethereum network. At one time back in December, the CryptoKitties smart contract took up nearly thirty percent of the total transaction count on the Ethereum blockchain. The network started to clearly show its scaling issue as transactions began backing up daily (at one point reaching almost 30,000 transactions).
That’s something the current Axiom Zen team is focused on. Currently, there are more than 320,000 players on the CryptoKitty game, but Mobile app games in China have millions of users daily- for a blockchain game that is huge. In an interview with TechNode Giang explained: “If we’re talking about the blockchain, Ethereum can’t handle millions of users at this point nor can any blockchains available now that are in full production.” He goes on to state that since the launch of CryptoKitties Axiom Zen have designated a specific team for scalability, that this team’s primary focus is exploring long-term scaling solutions and is taken “very seriously.”
With China’s most recent crackdowns on cryptocurrency, it has slowed Axiom Zen’s progress. However, the team is currently in negotiations with game publishing companies and is talking with lawyers on how to proceed. The team has been building a lot of functions and features within the current game that will be specific to the Chinese market and believe the Spring Festival might be the right time to launch.
Featured Image: CryptoKitties