Post
Topic
Board Speculation (Altcoins)
Re: The Historical NFT Speculation & Appreciation Thread
by
dragonvslinux
on 18/02/2023, 12:29:25 UTC
With CryptoKitties, the problem is there are so damn many of them. Apparently now slightly over 2 million in all. It was actually the first NFT I ever bought, in 2018, I wanted to see what the fuss was all about. I recently recovered it -- turns out it had been sitting on their marketplace unsold for about 4 years.  Cheesy  am just keeping it now for sentimental value.

Well yes, basic kitties, or shitty kitties as I prefer to call them, are more or less worthless given the ever increasing supply. Baring in mind CryptoKitties was intended as an NFT game by breeding them, rather than a collectable. However they did reach $10 in 2021, even 0.025 ETH in 2020, but this was due to gas costs on opensea increasing, meant it was cheaper to "adopt" via uniswap rather than buy on the open market for breeding purposes. At least that's what it looked like once the kitty vault was established.

As I said, unless they are limited edition - like Gen0's that are currently worth $100 / 0.058 (after a 2021 high of $1K / 0.3 ETH), which in dollar terms I think is actually a fair value, even if by Ether value they continue to make new lows - then these NFTs have no real value overall. By comparison the ones I got were some "Purrstige" X-mas edition, but even some of these LE collections are only worth 0.01 at floor, compared to others around 0.05 (Gen0 price). Still worth a lot more than basics, but with zero volume.

Overall CryptoKitties was an interesting experiment, but after all the LE traits like special edition / exclusive / fancy / whatever were released, collectors simply lost interest. My only reason for not selling the ones I had for 50-100x what I paid for them, when they reached around 0.5 ETH, was also sentimental value to be honest! Especially since I started with it cost me around $20 / 0.2 Ether in total, and ended up at the peak with a collection worth 2 ETH.