Cryptokitties raises $12 Million from Coinbase investors and others

CryptoKitties a blockchain based game built on ERC-721 tokens, allows players to collect, breed and sell various types of virtual cats which are unique.CryptoKitties became a viral sensation growing to such an extent that it disrupted the Ethereum network causing a network congestion and network traffic for all the users of Ethereum blockchain.

CryptoKitties raised $12 Million recently by ventures capitalists led by Andreessen Horowitz and Union Square Ventures both of which have stakes in Coinbase.

Other notable investors like Naval Ravikant (CEO of Angel List), Mark Pincus (founder of Zynga) and Fred Ehrsam (founder of Coinbase) also participated.

CryptoKitties was launched in November 2017 as a project inside Axiom Zen. It is safe to say that CryptoKitties has been one of the most successful blockchain products till now where some of the virtual cats were sold for millions of dollars worth of Ether. The most expensive was priced at around $55.8 Million.

“We’re super excited about the potential of Cryptokitties and crypto-collectibles,” Gharegozlou told Business Insider.

Union Square Ventures Tweeted:

Announcing our investment in @CryptoKitties https://t.co/7KvKAUcmb1 pic.twitter.com/3bobI4cMxy

— USV (@usv) March 20, 2018

Sources:

CryptoKitties raises $12M from Andreessen Horowitz and Union Square Ventures

Cryptokitties, which is like Beanie Babies on the blockchain, just got $12 million from Andreessen Horowitz

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