NBA's Curry crypto cats a win for ASX firm

An ASX-listed firm is set to benefit as one of the world's best basketballers becomes the first sports star to partner with Ethereum-based game CryptoKitties.

Stephen Curry themed 'CryptoKitties'.

Fans will be able to breed a virtual cat version of basketball star Steph Curry. (AAP)

Basketball star Steph Curry has partnered with CryptoKitties as the blockchain-based game expands into celebrity collectables, and ASX-listed Animoca Brands is in line for a slice of the revenue.

Fans will be able to breed a virtual cat version of the two-time NBA MVP as CryptoKitties - one of the first successful attempts at creating a digital collectables market - releases its first celebrity characters.

And Animoca is entitled to 30 per cent of net revenues generated via the CryptoKitties mobile app in China, where Curry's jersey is one of the best selling from the NBA.

Shares in the ASX-listed mobile games firm rose as much as 12 per cent on Tuesday following the announcement of the deal.

Targeting a similar market to that which can value collectables such as Pokemon cards in the hundreds or thousands of dollars, CryptoKitties involves collecting and trading digital characters.

But because it is blockchain-based, counterfeits are difficult and ownership transparent.

Owners can buy, sell and charge sire fees for their creatures using cryptocurrency ether - with the average sale price at 1200 AEST on Tuesday at about 0.141 ETH ($145).

But trading can go much higher, with the first CryptoKitty ever created selling in December for 247 ETH ($149,000 at the time).

CryptoKitties' popularity when it was launched on the Ethereum blockchain last year contributed to an all-time high number of transactions on the blockchain and slowed it down significantly.

Curry comes in three flavours - Steph Fur Three, #30 Furry and Chef Furry - and each cat features the player's signature facial hair and the colours of his Golden State Warriors team.

The reverse auction for the first CurryKitty started at 100 ETH ($103,075).


Share

2 min read

Published

Source: AAP



Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world