Vintage CryptoKitties and the Quest for Authenticity

Abstract

This paper presents the case of the blockchain-based game Cryp-toKitties (Axiom Zen, 2017), more specifically, one particular way of making game tokens potentially more valuable by labeling them 'vintage'. Firstly, I show how the meaning of 'vintage' was collectively constructed by the community of players and negotiated online until it was acknowledged by the owners of the game. Secondly, I measure the influence of the 'vintage' label on the game market in the first six months of 2018. I base my measurements on open market data available through such services as KittyHelper, Etherscan and the Chrome plug-in CKBox. I conclude that 'vintage kitties' did not acquire surplus market value even after they became a publicly recognized part of the game: breeding them resulted in losses for the majority of players. However, their retro aesthetics inspired creativity of many players and signified the social status of "the new rich".

Embracing Nostalgia: The Irresistible Allure of Vintage Treasures Over Brand-New Alternatives

“…As a result of their pre-digital design, many vintage objects are incompatible with modern hardware and interfaces. Future innovation might involve retrofitting dated products with smart technology so they can communicate with contemporary systems while keeping their classic charm to close this gap [25].…”

“…For instance, safety measures and sophisticated navigation systems may be installed in vintage vehicles. Another common limitation of vintage product is scarcity [25]. The quantity of vintage things that are in good condition is decreasing over time, which raises their uniqueness and price.…”

A First Glance at the NFT Quebec Gaming Scene

“…As most in-game NFTs are generated by algorithms, there is a percentage of them that are less likely to be reproduced because they are, by design, not generated often or because they have special features. This characteristic allows the gamers who own a rarer NFT to profit more while trading (Serada, 2021).…”

Adopción de NFT como arte digital

“…Initially these new digital assets, native of the blockchain technology, arrived like a game in the shape of the phenomenon called crypto kitties (Serada, 2021), nonetheless it opened the door to a new potential for the blockchain technology, the art market, giving birth to the new concept of virtual art galleries like Open Sea (Brambilla-Hall & Lee, 2021;Kay, 2021). This evolution is relevant because more than a technological leap, represents a technology adoption revolution.…”

“…The application of NFTs (Non-Fungible Token) focused initially on gaming, which shifted later to the field of arts (Serada, 2021) and allow to reorganize the art market with economic relevant benefits for clients as well as artists, who are given the opportunity to expose their works to a world market through NFT platforms (e.g. Opean Sea, Mintable).…”