CryptoKitties Raises $12 Million in Series A Funding

Wildly-popular Ethereum application CryptoKitties has raised $12 million in a funding round led by venture capital firms Andreessen Horowitz and Union Square Ventures (USV).

Announced on Tuesday, the series A funding round also featured personal investments from major tech figures such as Coinbase co-founder Fred Ehrsam, AngelList CEO Naval Ravikant, and Zynga founder Mark Pincus.

Developed by Canada-based venture studio Axiom Zen, CryptoKitties is a decentralized application (DApp) that runs on the Ethereum network and allows users to collect, breed, and trade digital cats. These felines are constructed as ERC-721 tokens, making them digital collectibles that are uniquely identifiable and provably scarce.


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