Why crypto collectors are spending thousands on cartoon cats

by Matt Linares

Until recently, the most expensive cat on record, costing $41,435, was believed to be a Bengal called Cato. That was before the appearance of CryptoKitties, a species of blockchain-based digital cat that you can now buy and trade with cryptocurrency.

Every CryptoKitty is unique and stored digitally on the Ethereum blockchain, a popular alternative to bitcoin. The first CryptoKitty was only born a few months ago and the market has ballooned since. The most expensive one to date was sold for the equivalent of $110,707 in December 2017.

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