CryptoKitties NFT Platform
Hello, everyone, I am on the CryptoKitties website, which is a relatively popular platform in the Crypto and NFT world. And what’s special about this platform is that you can buy Kitties as NFTs, you can sell them, you can breed as well. And I will go through all of that in this lecture. And, of course, if you have any questions, just let me know in the comments below.
So the first thing I’ll be doing is to click on the Start button and I will create an account with MetaMask.
I already have an account so I will put my email and I will put a nickname, for example, I will just use my name which is absolutely fine for me. I will tap on Continue. And almost there, as a final step, your wallet will ask you to digitally sign in to link it with CryptoKitties NFT platform, click the button to proceed, sign in.
So here comes my MetaMask account. All I need to do is just sign in and here we go.
That’s all I had to do. I am now connected with my MetaMask account so I have some Ethereum to use.
We can create new Kitties
And then what’s nice to see is that there are plenty of classes and guides. So, for example, if I start the Kitten class which is the first one,
you will see Kitten Class: Breeding.
So what’s the idea here? You can buy Kitties from the marketplace and just keep them as NFTs or we sell them. But with the CryptoKitties platform, you can do much more. You can play with them, you can breed them. And the first class is about breeding.
So it’s a demonstrational class and I would suggest you go over it if you’re interested, just to play around. And you will see that they give you 2 kitties. And if I click on Next, you can read the tips below. Each Kittie is unique and they give you the option to use the buttons to learn how to use the platform. So, for example, if I want to breed them, I will decide which Kitty is the lady, which, for example, I will tap on the pink one.
Then I will need to select the male one so I click on the next one and then, OK, give them some privacy.
And this is how the kitties will breed and they will do the magic, and you will see a new kitty born.
So this way, basically, you can create new kitties and after that, you can sell them or you can use them as a male on the platform.
Be sure to go through the CryptoKitties NFT guides
So others might use your kitty to breed with their female kitties and so on. It’s very entertaining. And if I tap on the egg, the kitty is born. It’s a new, unique, CryptoKitties NFT kitty and then you can sell it or you can store it or one more time, you can use it for breeding as well. So there are plenty of tips as well on the CryptoKitties website.
For example, it is recommended that you breed kitties from the same generation. So you see that these 2 that are examples here are from generation 2. And, of course, the more unique the kitties, that is better. I will go back to the main website and I will show you what’s more here.
So one more time, make sure to go through the guides. They will give you a better idea and understanding of how the CryptoKitties NFT platform works, how you can sell kitties, or breeding them. There are plenty of tips as well on how the cat features work, what are the Cattributes.
For example, you can see what a kitty we have here. Cattributes could be the eyes, the mouth, or anything around it. Then we have Cooldown Speed.
The CryptoKitties are a fun way to introduce children to the NFT world
So every time the kitties breed, they have some cool-down parameter. So, for example, it could be slow. And you see how much time it takes. Basically, this is how much time it takes from one breeding to the next one. So you can use the kitty again to produce a new kitty. This is about breeding, very entertaining especially if you have a daughter. This is how actually I got into the CryptoKitties website.
I played together with my daughter because she likes stuff like that and I wanted to teach her something that is connected to crypto, but at the same time will be interesting for her. Obviously, if I show her trading patterns and charts and my crypto trading or investing, it wouldn’t be interesting for her.
But when I showed her the CryptoKitties NFT platform, she got very entertained and she already has her own account where I’m sending some Ethereum and she is buying some kitties, selling them. I don’t know how many kitties actually she has right now. And in the same time, this is the future. Or we can say already it’s the present because there are thousands of people playing on the CryptoKitties website.
The gas fees
And something very important, every time we do a transaction, we buy a CryptoKittie or we breed kitties, there are gas fees. Pay attention to that because this is on the Ethereum blockchain and all the transactions are stored on the blockchain and we pay a gas fee.
So basically, for everything you need Ethereum.
And if I go again to the CryptoKitties main website, I will go back just to the main page, you will see that the marketplace is huge. It’s enormous. If I go to the catalog, you will see that we have the Cattributes which I already mentioned, we have the Fancy Cats, Exclusive Cats, and by the name, you can understand that this will be a more expensive cat.
So the more exclusive the cat is, obviously, the more money it will cost. You can see how different these cats are. For example, I will click on that one that looks like coming from Hawaii. So this is the Papacatuanuku and you see the number.
So this is a cat with the number 1,500,000. And usually, kitties with such a unique number, or we can say it’s a milestone number, cost a lot of money.
The catalogue
And the price is over 1,000 Ethereums. And by the time I’m creating this lecture, Ethereum sits nearly to $3,000. So, yes, that’s a lot of money, guys. And below you can see the birthday, March 31st, 2019. And we have some special features, as well, we have who the parents are. And I can click on the mother and I can see more details about the mother, which cost 0.5 of Ethereum, which is about $1,451 at the current moment.
And you can see what are her Cattributes and which are her parents, the children. So I can go now to her father or the grandfather of the initial kittie that I showed you, and right here you can see who is the owner as well. And below, we will see all the children. So you see how many children this kittie has, like many.
So in the catalog, you can go through the different kitties. You can go through some special editions as well. And one more time, the more unique the kitty is or the earlier generation it is, or if it has a unique number like a roundish number, it will cost a lot of money. But on the other hand, there are some kitties that are relatively cheap.
You can buy the cheap NFTs and grow their price
For example, if I click on Search and tap on For Sale, I will see all the kitties for sale. And you see that the starting point is 0.001 and they are sought by price. And if I click on the first one, you will see all the info about that kittie, it’s called Honey B.
It’s 15 generation, it has 7 likes. There are Cattributes, the birthday of the kittie, there are the parents and the children.
And I just noticed that the buy button is inactive. It says, ‘Auction Issue. Please find a new kittie on the market.‘ So currently I cannot buy that kitty for some reason. But what I wanted to show you and to conclude in the lecture is that even if you go through the expensive ones that sell for nearly a million dollars or even more, for example, if I click on another one, I see that the kittie sells for over 1,000 Ethereums, which is over a million dollars.
So the NFTs are not actually the market where you can get rich in a few days and you can buy the super cheap NFTs and then just change the price to thousands of Ethereums.
There are people doing it for sure. So there are people that are buying cheap kitties. They just change some key Cattributes and so on and they increase the price. But that’s OK.
Nothing is guaranteed in the NFT world
It’s a free market and you can set any price of the kitties that you own, but make sure to research very well the kitties if you are planning to spend more money. And what I wanted to say is that even if you choose the very good Kitty, and this applies actually for the whole NFT world, even if you spend a lot of money on an NFT, there is no guarantee that after that you will be able to sell it for more money and make some profit out of it.
So as I said, personally, I’ve been playing with the CryptoKitties NFT platform for some time. My daughter enjoys it. So if you have a daughter, it might be a platform where she could play around if you have some extra Ethereums to spend, of course. And, of course, if the kitties are not their thing, you can read the other lectures.
Thank you, guys, for reading, and I will see you in the next lecture.