These early versions featured cats of the latest version that were thought to have been lost forever in “forgotten wallets”, making the rush even more massive. That was until a week later, on March 19th, another group of NFT Archaeologists discovered the very first versions of these cats on contracts that were published prior to the official ones. However, unlike CryptoPunks and their 10000 unique punks, the total amount of Cryptocats available is only 625, so the community that formed around it is way smaller than the CryptoPunks one, and the hype/marketing surrounding it quickly vanished. What made them so popular so quickly is that not only they’re one of the oldest digital tokens ever, but they also are the very first fork (made using the same source code) of the famous Cryptopunks, with some of the cats designed by John Watkinson from LarvaLabs (CryptoPunks co-creator). Their rediscovery by NFT “Archaeologists” -modern-day archaeologists who search for older, forgotten art tokens- sparked a huge rush with over $1 Million spent in a matter of hours by people trying to get their hands on a precious digital feline.
Until March 11th and the widespread craze for NFTs in the cryptosphere, a significant portion of these cats NFTs were patiently awaiting their adoption, dormant on the Cryptocats website, just like Mooncats and Cryptopunks before them. This story is the story of how old digital assets get valued by the public, and why there is more to it than actual art quality and ownership issues. Cryptocats are digital art tokens (NFTs) made in 2017 that are hosted on the Ethereum Blockchain -one of the main crypto networks- and sparked interest recently with the huge NFT Market growth these past few months.
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