CryptoKitties is a #blockchain game on Ethereum developed by Canadian studio Dapper Labs, first released in 2017. The game involves breeding of digital cats to generate progeny that become valued collectibles. A CryptoKitty’s ownership is tracked via a smart contract on the Ethereum blockchain, and the kitties themselves are represented as #NFTs.
The game gained explosive growth upon its release but quickly collapsed in a short time. The highest prices reached for these kitties in fact were mostly touched upon release.
The oversupply of kitties and the consequent loss of profit contributed in the rapid decline of the game.