Venture Capital
CryptoKitties became a sensation after it debuted in November as a collectible game built on top of a blockchain and the Ethereum cryptocurrency. Now the Axiom Zen game studio is spinning it out as a separate company, and it has raised $12 million funding for this endeavor. The idea behind CryptoKitties is to make blockchain technology accessible and relevant to everyday consumers. Andreessen Horowitz and Union Square Ventures led the round. CryptoKitties don’t come with a cryptocurrency themselves. Rather, the company calls them cryptocollectibles, which use blockchain technology to authenticate ownership of a particular CryptoKittie character.