& # 39; CryptoKitties & # 39; based on Ethereum believes that Asian players are "Killer & # 39;


With huge sums of money and public attention to blockchain technology and cryptocurrencies, there remains the issue of the latest "killer app" or an app that drives immensely the adoption and creates value in the real world.

The Chinese Gamble Quel Paid-Off

"CryptoKitties", a collector's game Ethereum believes that the answer to the definitive "killer app" is in the Far East, according to TechCrunch.

Related: CryptoKitties Retains with Ethereum and Goes Open-Source

Famous both for creating a blockchain application and for blocking the network Ethereum in December 2017, the team behind "CryptoKitties "He has extensive experience in the blockchain market to validate his decision strategy, since the latter is an Asian expansion.

For those who do not know, "CryptoKitties" is a blockchain game focused on reproducible and collectible digital cats that enterprising users can "swap" Last month, for example, CryptoSlate reported that two users made over $ 100,000 exclusively exchanging digital cats.

In addition, the company has begun to infiltrate the Japanese, Korean and Chinese game markets in hopes of capturing the attention, and ETH, the Asians obsessed with gambling

"CryptoKitties" is managed by Axiom Zen , based in Vancouver, which also released a third-party application called Kittyverse, an open source digital asset licensing platform and an investment fund focused on gaming cryptocurrency products.

The co-founder explains the strategies

Benny Giang, a co-founder of "CryptoKitties" who recently launched the application in Hong Kong, China and Taiwan, led the expansion plans. To avoid the repetition of the December 2017 network jam, Giang initially released the iOS app to 5,000 players after reviewing several WeChat accounts.

Related: How Two Boys Made $ 100k Digital Cats on Ethereum, Merit of Digital Collectibles

Benny notes that blockchain-based games in Asia are a "huge unused market", but they face increasing competition. The reasons are clear: Asian markets have substantially improved compared to their US or European counterparts, the cryptocurrency regulations are better structured and developed, and the number of players in Asia eclips other continents.

The Chinese market is probably the most developed for blockchain and, with the exclusion of cryptocurrencies, related applications. However, "CryptoKitties" is facing competition in the Chinese market; The Internet giant Xiaomi, which recently launched an IPO on the Hong Kong stock exchange, has launched a collectible rabbit game called "CryptoBunny", last year

In addition, the search engine giant Baidu , nicknamed "Google Chinese", has also launched "CryptoPuppy" this year, enjoying a significantly larger market share and participants than a startup like "CryptoKitties."

Remaining culturally relevant

Giang and his team made a fundamental difference in their strategy before entering the Asian market – it is

Citing the Uber disaster in China, Giang noted that the market had to be penetrated with local partnerships, be available in Mandarin or Cantonese and focus on market with Chinese culture in mind. [19659008] In January 2018, Axiom Zen collaborated with Animoca Brands in Hong Kong to enter the Taiwan and Hong Kong markets and introduce local popu characters such as Doraemon, Garfield and Ultraman. Axiom Zen has also created a Chinese website, provided customer support services in the local language and hosted numerous gifts.

Using these strategies, Giang gained support from local communities and used a traditionally guided and community approach to win the hearts of Asian players. By creating a sustainable user base, instead of a fly-by-night operation in millions, the company was able to separate itself from other cryptocurrency projects.

Despite getting a negative press after users quickly lost interest in the game, "CryptoKitties" raised $ 12 million in a series A round led by A16Z and Square Ventures in March 2018. Part of that money was allocated for Asian expansion, with the remainder assigned to manage American and Russian players.

Cover photo by Dan Gold on Unsplash

Disclaimer: The opinions of our writers are exclusively their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate approve any projects that may be mentioned or linked in this article. Buying and exchanging cryptocurrencies should be considered a high-risk activity. Please do your due diligence before taking any action related to the contents of this article. Finally, CryptoSlate assumes no responsibility in case of loss of money by trading cryptocurrencies.

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