People are paying thousands of dollars for Crypto Celebrities in Blockchain

Anything can be placed on the blockchain with a little ingenuity, even Hollywood celebrities. Cryptocelebrities is Cryptokitties this week, an intelligent trading game based on contracts that benefits from digital shortages. Only one copy of each celebrity is released, forcing operators to spend thousands of dollars to capture "celebrities" like Satoshi Nakamoto and Emma Watson.

On paper, a game like Cryptocelebrities sounds as silly as last month's great crypto game, Cryptokitties. Like its feline predecessor, Cryptocelebrities rewards the first users who obtain the best digital properties and then sell them for profit.

Blockchain-based collector games like these create a FOMO level that can make assets change hands for thousands of dollars. At 4 pm EST on Tuesday, January 23, the Cryptocelebrities site was temporarily disconnected, which is believed to be due to the high demand.

While the Cryptocelebrities project seems an effective scoundrel, both in the current craze for blockchain games and in the celebrities themselves, it has some interesting features.

One of them is that the verified celebrities control the royalties of the trade of their image and win a part of the profits. It's hard to imagine that people like Clint Eastwood or Donald Trump use Ether to verify their block chain counterparts, but it's a bold concept. Vitalik Buterin and Satoshi Nakamoto (represented here simply as a question mark) also count.

Do not get too attached

Anyone who wants to buy a celebrity with their current owner can do so, and there is nothing the owner can do to stop the sale. As the Cryptocelebrities website explains: "When someone else matches the current price, they will automatically snatch their smart contract." You will lose the card, but you will receive up to double the amount you originally invested in ETH. "

If you buy a contract for 0.2 ETH, another player can take it from you. Once that happens, you will receive 0.4 ETH automatically! Most contracts are doubled in price with each transaction until they reach 1 ETH.

Like other blockchain games, smart contracts that control ownership can be decentralized, but celebrity images reside in a centralized database.

If Robert Pattinson or Woody Allen's agent intervenes and puts pressure on Cryptocelebrities to remove his image, merchants could keep an empty card. At this time, Woody Allen is worth 1.05 ETH, but would anyone be willing to pay a higher amount if their image was not associated with the smart contract?

Currently, Vitalik Buterin is the most talked-about celebrity, with a price set at 20 ETH, followed by Satoshi Nakamoto and Angelina Jolie with 13 ETH each. While it is hard to imagine that the pair ever shares a red carpet, in Cryptocelebrities they are shoulder to shoulder.

Such is the popularity of the site that recently added celebrities can change hands a dozen times in the first hour, as operators rush to complete their Metamask transaction before the competition.

At the time of publication, the user mfs7772 is the whale Cryptocelebrities, with 24 expensive contracts under his custody, including Nicole Kidman and Vitalik Buterin.

It is easy to write these primitive games as ephemeral and frivolous, which undoubtedly they are, but they do a fascinating study of human psychology, at the same time as they demonstrate the concept of digital scarcity and the theory of the fool in action.

Source: news.bitcoin.com