The Spectacular Collapse of CryptoKitties, the First Big Blockchain Game
In September 2018, someone bought an angry cartoon cat for the equivalent $170,000. It was big win for CryptoKitties, the world’s first blockchain gaming hit. But the sky-high transaction obscured a more difficult truth: CryptoKitties was dying.
Imagine having a market so inefficient that it costs $450 just to transfer money!
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