CryptoKitties has been one of the record-breaking crypto game in the history due to its popularity with the gamers and non-gamers in the crypto world. But these cute little kitties seems to bring a lot more than we expect after the published blog of an engineer stating that he made over $100,000 out of trading CryptoKitties.
Ivan Bogatty, an engineer working as a General Partner in a hedge fund cryptocurrency company, made a terrible luck out of his investment on the famous game. He explained on his blog via Hackernoon what he did in order to win the large amount of $100K out of playing CryptoKitties.
Before CryptoKitties overloaded the Ethereum network, Ivan was one of the early users of the game. He, accidentally, found the game when he was using Ethereum and made an intriguing look to it. Ivan, then, called his Russian friend Oleg Ostroumov to look more with the network and that started their journey towards trading.
“While the CryptoKitties game was merely a curiosity for me, Oleg immediately spotted a lucrative investment opportunity. First, we were clearly among the earlier entrants. Second, the game looked like it had all the precursors of going viral, similar to Pokemon Go, and was in the early stage of a hockey stick explosion” Ivan posted.
Moreover, his investment of $5,000 for a 20% equity stake of Founder Cat #4, made the beginning of his lottery game. Due to the hype of the crypto game, Ivan decided to re-listed the Kitties at 250 ETH which is 5 times from his $5K purchase.
Although Ivan knows that he is about to enter an unpredictable way for investment, this doesn’t stop him from buying more various Founder Cats. However, along the way, he made sure that once CryptoKitties are out of the business, he will be getting his money back out of his thorough observation of CryptoKitties’ status in the market.
On December 6, Ivan’s founder kitties begun to be pushed out of the rack and this made him decide to sell his Founder Cat #4 to his friend. Yet, all of sudden, his Founder Cat #4 immediately ran to the top as the second top sale on CryptoKitties’ leaderboard. With this sudden change, Oleg and Ivan come up with an idea to create more income with their Cryptokitties.
Luck and patience create the great rhythm of Ivan’s crypto adventure and these two qualities made him won an enormous amount of money. Of course, he was guided by the imaginary kitties at the end.
“Yes, there is absolutely no guaranteed intrinsic value or price floor for imaginary Kitties. Nevertheless, one can still play this game and even win. And of course, it was practically impossible to predict where the top of the bubble would be, although we came pretty close” he explained.