Seed equity continues to draw in millions in the world of crypto, and now OpenSea have become the latest to cash in. Names including, amongst others, Foundation Capital, Founders Fund, Stable Fund and Blockchain Capital, all participated in raising money for what has been dubbed “ebay for cryptokitties”, generating $2 million for the new trading platform. But what’s the point?
When cryptokitties dropped last year, it became so popular that it briefly froze the entire Ethereum network, such was the volume and frequency of transactions. The game annoyed many, but was applauded at the same time for showing the fun side of blockchain while at the same time showing off a potential use within the world of blockchain for the trading of non-fungible items.
But it isn’t just cryptokitties anymore. In fact, it’s raining both cats and dogs – and computer game skins, if you take a look at Wax as an example. And OpenSea are hanging their hat on crypto game developers, as they look to incorporate purchasable items such as cryptokitties in new games, such as KittyRace – a game in which you can race the cryptokitties you have for the chance to win ETH.
All of this indicates one thing for fans of crypto gaming; the best is yet to come. OpenSea have promised that their platform will allow for trading of multiple types of crypto-commodity, meaning a new level of flexibility for people who are looking to have a bit of fun, while at the same time potentially making a bit of money.