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RE: 🔰 Non fungible tokens (ERC721) - digital scarcity on the blockchain
Hey @pankajborah Sir i want to ask a question that if we can if we want to own a Cryptokitties Than what we have to take care of.
One more thing if we hold Cryptokitties is there any chance that it's price will increase and if it increase that what are the criterias for it.?
And Its really appreciateable post you made.
@flemingirl and @pankajborah both of you are having a great knowledge of cryptos..
Keep working....!!!
Hi pradeepkr34, sorry for the late reply, actually I was away from my laptop. Back to your question, the price of a crypto kitty is based on the attribute(
cattributes)and thecombination of traits of the digital cat. And also if you ask about the possibility of a price increase, it depends on a lot of factors like the generation no. the cat belongs to and here too, the rule of demand and supply apply. Let me give you an analogy, say you own a pokemon card, and if people find the pokemon card you have is very rare then they might pay you a good sum for that card. Likewise, If people feel that cattributes/traits of your digital cat are very rare then your digital cat will have a higher value. While most of the code of crypto kitties is open source, but the code that creates the DNA or you can say the quality and traits of the cat is closed source.