There is always a need for a “must have app” that can kick-start massive adoption of crypto and blockchain technologies. Just like gaming consoles drive sales and early adoption by offering platform exclusive games that are simply irresistible, Cryptokitties might be the game that does the same for cryptocurrencies and blockchain.
Cryptokitties is a cute game about purchasing, selling, and breeding adorable cats. Each kitty is unique and cannot be replicated. The game is now venturing into Asian markets, namely China, Korea, and Japan. That might play an important role in introducing a huge audience to blockchain technology.
Just in March 2018, Andreessen and Union Square Ventures invested $12 million into Cryptokitties. A chunk of that investment directly went into expanding the furry creatures into Asian markets. Till now, U.S and China are the biggest markets for Cryptokitties while Russia comes in the third place.
“We think digital collectibles is one of many amazing things that blockchains enable that literally could not be done before this technology emerged. We also think digital collectibles and all of the games they enable will be one of the first, if not the first, big consumer use cases for blockchain technologies.” Fred Wilson of Union Square Ventures said while explaining the thought process behind the $12 million investment.
Axiom Zen owns the Cryptokitties and has been steadily growing the brand into various markets. They are also keen on taking lessons from the failure of Uber in China. The San Francisco and Vancouver based studio aims to avoid the same fate as Uber by integrating local talent and culture into their brand. A step that is as valuable as it is necessary.
Asia Is a Crypto Gaming Goldmine
Gaming has been booming in Asia for a long while, crypto games, however, are simply waiting to be explored in a market that is ripe for it. Benny Giang, a co-founder of Cryptokitties is in charge of Asian expansion. He believes there is a lot of untapped potential in the market that is simply waiting to be scouted further.
The Chinese market is particularly enticing because there is an already blockchain educated audience there. Asia is generally ahead of the Americas when it comes to the awareness of blockchain and cryptocurrencies. There are a high number of gamers in Asia as compared to other markets. This unique intersection combined with developed regulatory markets is a perfect concoction for Cryptokitties to thrive in.
The road ahead is not without hurdles for Cryptokitties. Just like clockwork, there are copycats that are pawing at the success of the original blockchain cats. Xiaomi, a popular smartphone manufacturer came up with Cryptobunny. A huge search engine in China, Baidu, also came up with their own version called Crytodog.
However, we will see the reach of Cryptokitties in upcoming years. As a western company looking to venture into the Asian market, there are bound to be several impediments that may hinder the progress. Only time will tell if Cryptokitties turns out to be the “killer app” we’ve all been waiting for.