Regulators have been unsure of how to classify digital collectibles like Cryptokitties. Everyone else has investors or speculators.” However, this uniqueness leads to confusion with regulation. Shirley explained that, “right now, we’ve got what no one else has, which is users. Cryptokitties represent a form of “digital collectibles,” or “cryptocollectibles” which are distinct from cryptocurrencies. In a recent discussion led by moderator SJ Klein, Cryptokitties founders, Dieter Shirley and Alex Shih, discussed their business model, as well its as attendant issues of privacy and regulation.Ĭryptokitties is unique because of its game design. Notes from the TalkĬryptokitties, an online game centered around owning and breeding one-of-a-kind digital cats, is one of the first games to be based on blockchain technology.
They also discuss some of the ethical challenges they've been facing, and best practices for approach.
CryptoKitties is an early pioneer in the space, and, having navigated securities law early on in its release, will share unique insights on classifications. Founding members of the CryptoKitties team, Dieter Shirley and Alex Shih, discuss the unique governance, legal, and regulatory challenges of putting cats on the Ethereum blockchain.
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