I just got my first Crypto kitty today since I felt richer with more Steem generated by SBDs.
You can buy them pretty cheaply or you can get really expensive ones. I got a few for below $100 in total and I'm looking to get more. My budget is still very small as it's only for fun.
The only thing you can do with them for now is name them, breed more kitties by siring two kitties that you own, or with another kitty from anyone in the public. You can also sell them or give them to someone else using the Ethereum address. Pretty cool eh?
I think a lot of people are trying to make a gain breeding kitties because you might get a rare one if you're lucky. Those can be sold for a lot.
There's a website that says which traits are rarer, i.e. how many kitties have that trait. I think it's this: https://cryptokittydex.com/