Blockchain News

CryptoKitties is holding a charitable blockchain auction to aid the wildlife

In what is becoming something of a norm in the crypto space, the CryptoKitties is holding a charitable blockchain auction for a computerized cat by the name Honu. The funds raised through the initiative will be used to aid the wildlife and the oceans.

CryptoKitties is the latest startup to join the social good bandwagon with the likes of Robo advisors having already added a socially responsible investing option.  Also, a company like Uber has already launched a community-based initiative.

The popular game is holding a charitable blockchain auction for Honu, a computerized cat, and the raised funds will be given to the wildlife and oceans cause. The startup uses the Ethereum blockchain to create virtual cats that users can purchase with some going for as much as $100,000. The created breeds are then used to create more cats.

CryptoKitties came about in 2017 benefiting from the increase in interest in crypto assets. The startup was able to raise over $12 million in investor funding as many users jumped at the chance of collecting “Collectible cats” with investments  from the likes of Union Square Ventures and Andreessen Horowitz

In a blog post, Fred Wilson who is an early cryptocurrency investor and a partner at Union Square Ventures says:

“I am excited by the potential of cryptocurrencies and crypto goods to change, and hopefully improve, the way we raise funds for charity.”

The Honu initiative is a nice a good one but it’s not the first one to happen within the crypto space. Last month, the CEO of Coinbase crypto exchange launched GiveCrypto. org a platform that would raise money in cryptocurrencies and be used to help the needy around the world.

What do you think of CryptoKitties launching a charitable blockchain auction to aid the oceans and the wildlife? Share your thoughts in the comment section below.

coinmag

Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology.

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