CryptoKitties Raise $15 Million
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CryptoKitties Raise $15 Million

Dapper Labs, the CryptoKitties creator has managed to raise $15 million that will be used to expand to other regions. The platform has less than 500 active users translating to $75,000 per user. The creator of CryptoKitties is hopeful that the games and other friendlier applications of blockchain on the platform will enhance its adoption.

Dapper Labs Raises About $75,000 Per CryptoKitties User

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Google, Samsung, and other venture capital firms have helped Dapper Labs to raise about $15 million for its products CryptoKitties. According to a press release, Dapper Labs claims that they are the first and most successful consumer application that uses blockchain. However, this claim is debatable as there were other consumer blockchain products even before the end of last year.

CryptoKitties is among other card style gaming sites that support the use of true digital ownership that is associated with products using blockchain technology. The platform uses the technology in its collectible breeding cat games where the users are supposed to pay using Ethereum. The creator of this product is optimistic that the use of blockchain technology on the games and other areas will boost the adoption of the platform.

The platform is among the most popular dApps on Ethereum. However, the platform has not managed to mobilize many users. At the time of writing this article, DappRadder confirmed that the platform had just 378 users in the last 24 hours. The first funding was led by Axiom, the company from which Dapper Labs was branched. This means in the two funding rounds, the company has raised almost $75,000 per its active user.

Dapper Labs To Enhance The Use Of Blockchain Through Games

In a press release, Dapper Labs said that CryptoKitties has facilitated 3.2 million transactions worth millions of dollars. The company claims that no other consumer blockchain application apart from Cryptocurrency exchanges has more users than CryptoKitties. According to the press release, whereas many blockchain projects go for ICO when raising funds, the company chose to demonstrate a product that has more uses of blockchain apart from Cryptocurrencies.

CryptoKitties was launched in 2007 and has helped users without knowledge about blockchain to get into the technology through games. Gaming and education are known to enhance the adoption of technology. Such products are expected to have a major impact on increasing the popularity of blockchain. The technology is mainly used in Cryptocurrencies and most people do not know it could be used in other areas.

Funds To Be Used In Expansion

According to Dapper Labs, the funds recently raised will enable the company to expand to other areas. The company is already planning to open a branch in the US, which will be operated by executives who previously worked in known companies such as Disney and Unity.

The firm will also open another branch in Canada that will be run by former staff at companies such as Zynga, Hasbro, EA Sports among others. The funds will also help the company to expand its user-friendliness. This is expected to make the website more user-friendly and enhance the interaction between the company and its customers.

November 2, 2018

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Samantha Mitchell


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