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ARTICLE · 18 SEPTEMBER 2018

The Rise Of Crypto-Collectibles

Mishcon de Reya LLP
Mishcon de Reya LLP
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Mishcon de Reya LLP

Mishcon de Reya LLP

Founded by Lord Mishcon in 1937, in a one-room office in Brixton, Mishcon de Reya now employs over...

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With Bitcoin's valuation at an average of US$7,000 in August 2018 (its highest valuation was at US$19,8321 in December 2017), everyone is talking about the burst of the 'Bitcoin bubble'

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With Bitcoin's valuation at an average of US$7,000 in August 2018 (its highest valuation was at US$19,8321 in December 2017), everyone is talking about the burst of the 'Bitcoin bubble'. But is US$7,000 the burst of an asset 'bubble'? This all depends on whether Bitcoin is seen as equivalent to Digital Tulip Bulbs or Digital Gold: if you see Bitcoin as a worthless currency with no meaningful value, then you probably see a US$7,257 valuation as a sure sign of the burst of an asset bubble. If, on the other hand, you consider Bitcoin's intrinsic value to be comparable to gold, then you probably attach little significance to its recent valuation.

Whatever your school of thought on crypto-currencies and their usage, crypto-games and crypto-collectibles are on the rise. Last December saw the introduction of CryptoKitties - digital cats, with each one having different attributes, and with users breeding, buying and selling them on Ethereum (an open source,

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