Crypto-collectibles are a new form of unique digital asset. Advocates believe the crypto-collectibles will rise in value, like a piece of fine art or unique sculpture.
Others are more doubtful regarding the prospective value of a unique digital asset. But the market is very young, and Magic: The Gathering and Pokémon cards hold tremendous value, so why not?
Wondering where to start? Here are five crypto-collectible series for you to check out.
The first place to check out is CryptoKitties.
CryptoKitties is one of the original crypto-collectibles, allowing you to collect and breed unique digital kitties. Each cat has an exclusive set of “Cattributes” which defines various features of the cat. For instance, some of the primary Cattributes define things like fur and body type, fur pattern, eye shape, eye color, and so on. CryptoKitties also have dominant and recessive genes and can come with “wild” genes, too.
The most expensive CryptoKitty sale came home for 600 ETH—around $172,000 at the time of purchase. Dragon, the CryptoKitty in question, wasn’t even particularly rare or carrying an amazing set of Cattributes. But it certainly caught the eye of someone! Before that, the most expensive CryptoKitty sale was for Founder Cat #18, one of the original CryptoKitties, for 253 ETH, or $110,000 at the time of asking. (What is Ethereum, anyway?)
However, the average value of each CryptoKitty trade has decreased dramatically. Since investment firms Andreessen Horowitz and Union Square Ventures plunged $12 million into CryptoKitties, the number of CryptoKitty transactions plunged by over 98%, with the average price falling to around $5 per kitty.
The best way to describe Etheremon is “Pokémon on the Ethereum blockchain.”
In Etheremon, you capture and battle “Mon.” Etheremon’s have between one and three of the elemental types, including Leaf, Iron, Fire, Mystic, Combat, Dragon, and so on. Your Etheremon also has six main stats, which form its Battle Power. Etheremon’s can also transform when they reach a certain level, while other Etheremon’s can lay eggs which hatch into Etheremon’s of the same kind.
Like other collectible monster games, not every monster is unique. There is a hierarchy of Etheremon that creates scarcity, dictating the price of individual assets. If you can level your Etheremon up, you will have a valuable crypto-collectible on your hands!
Decentraland is a virtual city comprising individual and unique plots of LAND. You can buy, build, traverse, and later, monetize your LAND. Decentraland is an Ethereum-based virtual world. Each plot of LAND is fully ERC-721 compliant. Plus, you can build further unique crypto-collectible digital assets into your plot to increase its rarity, and perhaps its value.
If you purchase several Decentraland LAND plots, you can merge them into a district. Districts have a higher land value, plus you can give your district a theme. For instance, there is crypto district, an in-app marketplace, space allocated for a Decentraland University, a Fashion Street hoping to attract “top fashion brands,” and many more.
The plan for Decentraland moving forward is that each district and plot of LAND will have a series of unique buildings and experiences. Users can enter Decentraland, move about Genesis City, and make purchases, play games, and more. In the Decentraland example below, the highlighted red portion of the map is for sale. The 30 parcels of LAND are on sale for 3,000,000 MANA—over $150,000 at the time of writing.
Crypto-collectibles aren’t just land, kitties, and monsters. If Etheremon is Pokemon on the blockchain, then Gods Unchained is Magic: The Gathering on the blockchain. Others have referred to it as Hearthstone on the blockchain, while it also takes the moniker as the “first on-chain eSport.”
A collectible card game is a perfect match for crypto-collectibles, with the bonus that you cannot lose your Gods Unchained cards. You can unpack new cards, battle other users, and attempt to build a powerful deck full of rare and sometimes unique cards.
The most expensive Gods Unchained card sale so far was for a Mythic Hyperion that sold for 146 ETH—over $60,000 at the time. The most expensive trading card sale ever, for a Magic: The Gathering first edition Black Lotus card, completed just days before the Mythic Hyperion sale. The Black Lotus card sold for over $87,000, showing that the Gods Unchained marketplace already has some weight behind it.
CryptoPunks is a true representation of crypto-collectibles. The first non-fungible token, CryptoPunks was a core inspiration for the ERC-721 token that underpins most crypto-collectibles, digital assets, and other unique crypto tokens.
What makes a CryptoPunk unique? Well, there are only 10,000 CryptoPunk tokens, and each one is different; no two are alike. As one of the original crypto-collectible series and one that maintains a decent turnover of assets, CryptoPunks remains a popular crypto-collectible digital asset. Furthermore, CryptoPunks are simple. You buy one, and you either own it, or you don’t. Conversely, other crypto-collectible series use games to entice new customers and to enhance the rarity of existing assets.
What’s Your Favorite Crypto-Collectible?
The crypto-collectible market is still finding its feet. Detractors cannot understand why a digital asset that is part of a game holds a value. But the same is true for a 1st edition mint condition Charizard, or as you have seen, a nearly mint condition Black Lotus.
Once you have a fanbase invested in the progression or development of a collectible series, who knows what someone might spend on a single card, kitty, punk, or otherwise.
Want to know more about non-fungible tokens? Find out if non-fungible tokens are worth your time and money.
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