The Nifty License is the first blockchain standard for licensing digital assets in third-party applications, showing CryptoKitties and other blockchain distributed applications are platforms – not just products
- CryptoKitties unveils KittyVerse platform, with dozens of games, projects, and tools already being built
- CryptoKitties delivers standard for blockchain ownership with updated Terms of Service and open-sourced license for creators: the Nifty License
- CryptoKitties reveals Nifty Kitty Program to invest in KittyVerse projects leveraging the Nifty License
VANCOUVER, June 27, 2018 /CNW/ - CryptoKitties announced the KittyVerse platform today, with dozens of tools, games, and other projects already in development.
Via the KittyVerse, a player's CryptoKitty—a digital asset with ownership secured via blockchain technology—can now race, have literal catfights, and collect cryptocollectibles of their own. CryptoKitties updated their terms of service today to give third-party creators freedom to leverage CryptoKitties' assets.
"Decentralization empowers a unique development environment," says CryptoKitties' co-founder Bryce Bladon. "Once a concept proves viable, third-party creators can build on top of it and access an existing user base. Everyone's a stakeholder, and every new experience results in new ways to use your CryptoKitty."
Also revealed was the Nifty Kitty Program, CryptoKitties plan to financially support third-party developers who build on the game's platform. Creators can submit their project to the program on CryptoKitties' official website, https://www.cryptokitties.co/kittyverse.
"Much like how we launched CryptoKitties with a practical product and sustainable revenue model instead of holding an ICO, we want to promote the growth of a community with a sustainable revenue motive rather than an ecosystem fund," says CryptoKitties' co-founder Mack Flavelle.
CryptoKitties' "Nifty License" allows blockchain creators to use and build on the licenses' foundation for any experience they create using the ERC-721 token (colloquially referred to as an NFT, or non-fungible token). CryptoKitties co-founder Dieter Shirley authored the original ERC-721, and the game pioneered the token as the standard for non-fungible assets.
With over 800,000 CryptoKitties currently in existence, the collectible cats have sold for prices ranging from six dollars to six-figures. CryptoKitties formed an independent company after receiving US$12M in investment led by Andreessen Horowitz and Union Square Ventures in March, 2018.
"Blockchain can add so much value to everyday consumers' lives, but has been entirely inaccessible until CryptoKitties," says Roham Gharegozlou, co-founder and CEO of CryptoKitties. "Our vision is to make decentralization meaningful to billions of people — games and delight are how we plan to make it happen."
CryptoKitties captured the public's imagination when it launched in 2017, maintaining its position as the most-used dapp (decentralized app) on the Ethereum network, with peak usage accounting for over a quarter of network traffic. Over 1.5M wallets and US$25M+ have been transacted via CryptoKitties. The digital cats showcase how blockchain technology can be used beyond cryptocurrency.
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