A year ago—practically centuries in crypto time—investors were pouring billions of dollars into promising projects building dapps. They invested via initial coin offerings, in which blockchain company founders raise money, crowdfunding-style, by selling digital tokens. Prices for coins, including Ether, Ethereum’s own crypto-token, were soaring. Many of their fans believed blockchains and cryptocurrencies were going to swiftly displace traditional financial intermediaries, upend monopolistic internet companies, and decentralize the web.

    Then came CryptoKitties.

posted by kleinbl00: 280 days ago