In this post I want to move the attention to our well known ethereum blockchain. The reason are smart contracts! Among numerous things being built with many apps without some great usability or you can’t really apply them, CryptoKaiju offers something that is usable this time. We all know about ICOs where people raised money like they could and we need to wait to see the projects come to life and to see if they are going to pick any track in the future.
You’ve probably also heard about cryptokittens, well CryptoKaiju is some kind of contactable items but far different from CryptoKittens, stay with me while I explain the concept below. The basic concept is that they are producing the collectible toys that can are fully traceable by the blockchain which means you can look at it’s history record and see what does it say about which toy.
Their first toys were a success as they were all sold within first 40days from the moment they were available to the public to buy these toys. Of course since these toys are limited edition they have already started to pay off as they are being sold for over 200$ and not to mention that their first price was only 55$ per one toy. Even after they were sold people were still contacting the company if they have some toys left! After their first toy they have decided to lunch another one which at the time of writing has toys in the stock.
Are they just some meaningless toys? How they are connected to the blockchain?
Every toy has NFC tag and every toy is digitally unique. Every toy is contains it’s own ERC-721 token that is not fungible which makes each figure unique in front of the etheruem blockchain. To ensure that there are no fakes nor duplicates each token has metadata around the figure written with themselves.
It is great to see that more companies/startups are looking into this option to tag things and use blockchain to say what is unique. Or yet maybe even keep track of the item how it moved in the past. For instance if we look at unique masterpiece paintings held in museums around the globe there is a known fact that at least 10%+ are faked. Why is that? Because there is a lack of ability to check if this painting is original. What blockchain provides here is a unique set of value that if used in the right way can help us distinguish real from fake or yet teal from duplicate items.
If you are type of person that loves collecting things I am sure you will adore these little fellas - toys!
Link to the official website can be found here https://cryptokaiju.io/