The NFT descriptions of these Kitties exhaustively outline everything from their birthdays, behaviours, and ancestry (yes, we know this sounds crazy) to their likes and dislikes. Since then, other CryptoKitties have popped up in these bizarre “markets”, going for prices in excess of $1,000,000. This much Ethereum is currently worth close to $1,000,000 Canadian dollars (at the time of writing). The owner of Genesis purchased this CryptoKitty for roughly 247 Ethereum (about $120,000 CAD in 2017). Apparently it has not been put up for sale since. Genesis is a CryptoKitty that was born on Novemand sold a few weeks later. It may be too early to say at this point, but in the meantime, meet Genesis:
Would you be surprised to hear that digital NFT cat pictures have sold for the equivalent of $1,000,000 Canadian dollars? We certainly were! Should these assets be considered strategic long-term investments, speculative gambles, or perhaps very creative money laundering techniques? Perhaps you’ve stumbled across the term NFTs, or “non-fungible tokens” in the news. We don’t use the word “unconventional” (or assorted synonyms) lightly in this article. Should you consider these unconventional digital assets for your investment portfolio? This article defines digital assets and their various typologies, risks and upcoming market trends which will likely surface in this ever-expanding- and rather unconventional, asset space. But just how far does the concept of “digital assets” branch out? Cryptocurrencies are only one part of a much broader digital asset taxonomy. Understanding Cryptocurrency navigates the cryptocurrency space, its inherent risks, blockchain technology and compares Bitcoin versus gold.
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