In December 2017, CryptoKitties became the first decentralized game to take the Crypto world by storm. After raising $12 million from investors, like Andreessen Horowitz, usage has declined significantly. The number of monthly CryptoKitties transactions decreased in June by 98.4% compared to its peak of 80,500 transactions in December 2017, according to data from Bloxy.
This week, Roham Gharegozlou, CEO of Dapper Labs (the company spun off to work on CryptoKitties), and Benny Giang, Dapper Labs’ head of Asia, joined Laura Shin‘s “Unchained” podcast to discuss the current state of the game. They touched on:
- CryptoKitties as a platform for gaming — instead of just breeding them, users retain ownership and when other game developers use CryptoKitty code for their games, the cats can be used elsewhere (i.e. CryptoKittes racing)
- User experience issues for people using Metamask and having to pay gas prices
- Where they are seeing a 99% drop-off rate in their acquisition funnel and more
Enjoy and stay tuned for more reporting on the state of decentralized applications.