The cryptocurrency can be purchased from the Coinbase app where users can also buy Bitcoin. But what are CryptoKitties, the new game which has increased the value of Ethereum?
What are CryptoKitties?
CryptoKitties, dubbed the next big cryptocurrency, is a new application built on the Ethereum chain.
It was launched on Thanksgiving and became available for transactions in December.
Players can buy and sell virtual cats for as much as $10,000, in a bid make hundreds of thousands more in real value.
Users purchase their collectable kitties with Ethereum, and then breed them to create more kitties.
Each cat has its own set of genes, uniquely coded as “Cattributes”. Users will make more money if their cat’s genes are appealling to other players.
The players can make two of their own kitties breed a third, or they can pay another user to mate with theirs – if they’re looking for particular characteristics.
But the kittens have a cool down period, restricting how fast they can make new ones, in a bid to limit inflation.