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From seashells to art to Beanie Babies, people have always liked to collect things. Blockchain has created a collectible that is completely different, one that is provably unique through mathematics and computer programming. What happens when the digital crypto collectible is combined with the physically rare?
The problem with a collectible like a Beanie Baby is that you must trust the manufacturer to make only a limited number of a rare character or not lie about how many are made. The problem with a crypto collectible is that you can’t hold and see it in your hands; it’s completely abstract. CryptoKaiju tries to combine the physically rare and the digitally unique in its collectible toys.
What is CryptoKaiju?
CryptoKaiju are physical, vinyl toys shaped like characters such as a cartoon Ethereum logo or a Bitcoin in a dinosaur costume. These toys have a tamper-resistant tag or device in its foot that links it to an Ethereum smart contract, which proves that the toy is the only one in the world. The link between the smart contract and the toy is what makes each of these collectibles so special.
Who Invented CryptoKaiju?
CryptoKaiju was founded by Oliver Carding and the project is a collaboration between members of CoinJournal.net, KnownOrigin.io, and BlockRocket.
Did you know?
In the first generation of CryptoKaijus, there are hand-written descriptions for each of the characters that reference pop culture, tech, and cryptocurrency.
A brief history
- December 2018 - the first generation of these collectibles, called the Genesis Batch, is launched, selling out 50% of the stock in the first week.
- March 2019 - the second generation, called the Jaiantokoin, is launched in both Ethereum and Bitcoin styles.
What’s so special about it?
The reason that CryptoKaijus are provably rare is because they use the ERC-721 token standard on Ethereum. This token standard is a way to create non-fungible tokens (NFTs), which are tokens that are completely unique or special. There can only be one of each NFT, and each NFT is linked to the physical CryptoKaiju toy. When you buy or trade for a CryptoKaiju, you are also taking possession of the NFT and can verify its origin, source code, and whether it is truly the only one.
If either the toy is lost or tampered with or you lose possession of the NFT, then you don’t really own the complete CryptoKaiju anymore.
Did you know?
CryptoKitties also uses the ERC721 token standard to create non-fungible tokens (NFT) in their massively successfully crypto-collectible game.
What else is different?
Like with CryptoKitties, each CryptoKaiju also has unique characteristics or traits, with some traits being rarer than others. The ERC-721 smart contract or NFT connected to each CryptoKaiju has information about its special variations and unique characteristics.
How is CryptoKaiju produced?
The “soul” of a new CryptoKaiju is born every time a new NFT is minted or created. The digital or NFT version of the collectible is produced via an Ethereum smart contract that outlines the following fields: name, birthdate, batch, color, two traits, and a description. When the manufactured CryptoKaiju toy is infused with its NFT, then it's ready to go off into the world.
How do you get hold of CryptoKaiju?
Available CryptoKaijus can be purchased on their website and bought using cryptocurrency or fiat. However, the fun part is to trade them with other people, which can be done via NFT-trading sites like OpenSea. CryptoKaijus are unique from other NFTs in that they are not solely digital. Each CryptoKaiju is a digital NFT, and a physical toy, so when you trade make sure that you get both.
What can you do with CryptoKaiju?
Besides trading, you can scan the tamper-resistant tag at the bottom of the CryptoKaiju’s foot with a smartphone or tablet in order to see the CryptoKaiju on the Ethereum blockchain along with all of its unique characteristics and traits.
The CryptoKaiju is still very new with only two batches of their collectibles released so far, but the team plans to have a whole range of different designs based on a variety of crypto projects. Collaborations and partnerships with artists and events are also in the works and they are open to more ideas for the project from users.