Dapp Market confused after record 600 ETH cryptokitty sale

in #news6 years ago (edited)

On September 4, 4:21 AM UTC, a record Dapp sale was made on the Ethereum blockchain.
Whereas record prices are usually met with high spirits within the Cryptokitty community, there is currently confusion surrounding this sale, which seems to have no basis in any of the accepted benchmarks of value within the game.
Say hello to the world's highest priced digital cat.

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Kitty #896775 was bought off of the market for .00196 ETH the day before, the only cryptokitty on that account, then relisted for 600 ETH, before being purchased by this account

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On the surface it appears to be money laundering, but it would have involved a sizeable transaction fee paid to Cryptokitties and would be a very high profile way to do a discreet transaction that could have been less noticeable if payed out over multiple smaller transactions spread out over multiple Dapps.

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The previous highest price for a cryptokitty was 253 ETH for a "Founder" kitty (one of the original 100 kitties created) and the most recent high price for a kitty was the 203 ETH payed for the one of a kind "time traveler kitty" at an art auction held for charity.
https://www.artmarketmonitor.com/2018/05/13/rare-art-labs-holds-140000-cryptokitty-auction/

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When all other record sales on this Dapp were based on rarity/scarcity, having what is known within the community as a "shit cat" go from being sold at floor prices to record prices a day later, has definitely turned the concept of value within the Dapp community on its head.

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Wow ! possible money laundering through cryptokitties

It sure looks that way. Hacked wallet money getting washed etc.

It sure looks that way.
Hacked wallet money getting
Washed etc.

                 - corpsvalues


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Man, etherium is doing terrible right now. I dont hold the coin but I feel terrible for the project. Coins like this that fail on a big scale some how damages crypto's reputation. I know, its not the industries' fault but i cannot stop to think that it creates doubts even you say that "its normal coz its one of the natures of crypto".

I have no doubts with steemit though, I even think that steem is soooo undervalued right now.

It's really hard to value any crypto at this stage of adoption right now there is going to be a lot of massive fluctuating while markets figure out what normal and value mean for these projects.

Cryptokitties 🤣🤣 looks like a joke

LOL oh I assure you it's deadly for-real. Digital beanie babies FTW

Right thoughts you have @corpsvalues, and set them cool

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