CryptoKitties, the popular crypto-collectibles, has launched 100 tokens depicting ‘Catterina,’ a new collectible drawn by brand ambassador Momo Wang, on the Winklevoss-backed exchange Nifty, as Wang is best known for drawing Tuzki, a cartoon rabbit, which is shared millions of times each day across Facebook and WeChat.
It has been reported that two and a half years have passed since CryptoKitties “broke Ethereum” and demand for the non-fungible tokens (NFTs) is still strong, Nifty experiences service disruptions in the countdown to the new tokens’ launch.
The Auction for the ultra exclusive 1/1 Koshkat from @CryptoKitties and legendary artist Momo Wang is LIVE!! 😍😍😍 Bidding is already at $2,000 – how high will it go?? Less than 24 hours left!! pic.twitter.com/D02795UtwY — Nifty Gateway (@niftygateway) May 15, 2020
Within an hour of announcing the limited run, Nifty tweeted that 100 new users had signed up to the platform.
We've had over 100 user sign ups since the announcement went out about the special @CryptoKitties drop by Momo Wang … don't be late or you might miss out! https://t.co/uOsiGCCdOz — Nifty Gateway (@niftygateway) May 14, 2020
However, as the “surprise drop” went LIVE around three hours later, the exchange posted that “a massive number of users” was resulting in significant “slowness” across the platform for many users. So, within approximately three minutes of launching, the 100 tokens depicting Wang’s ‘Catterina’ had sold out.
You'll discover something new each time you take a look at Koshkat. The 24-hour auction for our 1 of 1 CryptoKitty by Momo Wang is LIVE with 50% of our proceeds going to nationwide food banks.@animocabrands and @dapper_labs are extremely proud to bring these Kitties to the 🌐 — CryptoKitties (@CryptoKitties) May 15, 2020
Nifty’s service announced:
“Our systems experienced unanticipated volume during this drop, and some payment issues have arisen. Anyone who had their card charged but didn’t receive a kitty will be automatically refunded. Anyone who tried to pay with ETH but didn’t succeed will be refunded as well.”
WOW! All 100 of the Momo Wang CryptoKitties sold out in around 3 minutes. Huge congrats to the @niftygateway for another successful NFT release. https://t.co/aTZG25VuQ8 — NFT Alert (@NFTalert) May 14, 2020
Likewise, Tyler Winklevoss tweeted:
“Wowzers. That drop was intense.”
Quickly after the sale, Nifty posted that one of the ‘Catterina’ NFTs had sold for $450 on a secondary market.
A Kitty has just sold for $450 on the secondary market!!@CryptoKitties pic.twitter.com/sdXyF1FMQ9 — Nifty Gateway (@niftygateway) May 14, 2020
In spite of CryptoKitties illustrating that it can still generate hype and crash an exchange backed by billionaires, the NFT ecosystem has evolved significantly since Dapper Labs first launched the collectible cat game towards the end of 2017.
As per the report, several hours before the surprise CryptoKitties drop, Nifty announced that its tokenized collectibles depicting female fighter Cris Cyborg, the first MMA competitor to hold world championships across four major MMA organizations, had sold out.
Cyborg Ready – all the way back in Drop 1 – has now officially sold out!!!! Congrats to @criscyborg and to all purchasers!!#Nifties #NFTs pic.twitter.com/Ip1H3tKc3n — Nifty Gateway (@niftygateway) May 14, 2020
Thus, the most significant progress made by the NFT sector appears to be taking place in the blockchain gaming industry, where tokenized items that can be privately owned, purchased and traded are becoming embedded into games.