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Cryptocelebrities is a new virtual game that is based on the blockchain technology. In the first 24 hours since its launch the game saw nearly one million dollars worth of Ether transaction, claims one of the game’s developers in an email.

Built on Ethereum, this game uses blockchain technology to let players buy, sell and trade celebrity smart contracts, like collectibles.

Each personality is linked to one, and only one, smart contract token on the game’s blockchain. Celebrity smart contracts can be seen on the Ethereum blockchain, and they can be bought with ether (Ethereum’s token). Each time a celebrity smart contract is purchased, its value automatically doubles.

The starting price for any celeb smart contract is 0.0001 ether. After the first sale, the prices becomes 0.0002. A couple of transactions later, the contract can be valued at thousands of dollars and more.

Vitalik Buterin, the creator of Ethereum, is the most expensive smart contract at the moment, having a price of over 20 ETH, which is about 20,000 USD. This smart contract has been traded 31 times.

The second most expensive celeb contract if Satoshi Nakamoto, Bitcoin’s anonymous creator, is worth more than 16 ETH, about 16,000 USD.

According to the game’s website, celebs themselves can trade smart contracts. If they provide an endorsement, they earn a percentage of each sale of their contract.

CryptoCelebrities is still in beta mode,as the game’s creator was trying to keep things on the low down prior to its big release on January 25th.

CryptoKitties was the first game that introduced the cryptocollectible concept in December 2017. The prices for rare kitties can go well over US $100,000.

For a while, CryptoKitties was the largest decentralized app on the Ethereum blockchain, constituting for more than 13%of the network’s transaction.

The craze for digital kitten got to a point in which initial coin offerings (ICOs) could not be launched due to the network being congested by the sale and trading occurring on CryptoKitties.

 

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