Cryptokittes Receives 12 Million from Big Name Investor

Cryptokitties, is an Ethereum based virtual collectible game developed by Axion Zen. They recently announced that they raised over $12 million in funding from a group of investors led by the firms Andreessen Horowitz and Union Square Ventures.

These are the same firms that also invested in the cryptocurrency exchange Coinbase. Andreessen Horowitz was also an early twitter investor as well as an early adopter of Facebook.

Other notable investors in Cryptokitties include such big names as Angelist founder Naval Ravikant, former Coinbase co-founder Fred Ehrsam, BitFury Head Of Strategy Committee Bill Tai, and Zynga founder Mark Pincus.

In case you’re not familiar with Cryptokitties, the crypto based game let’s its users create and breed virtual cats, which store digital genetic material on a blockchain. Users can then buy and sell these virtual kitties using Ethereum, which means that the users have to actually buy the cryptocurrency in order to play.

Due to this fact, 2 months after the game was released, Ethereum increased by over a whopping 152% on November 8 through January 28.

Blockchain technology is changing the gaming industry by bringing more blockchain based games to a wide variety of different networks such as card games like “Spells Of Genesis”.....click here for full story