In an unexpected twist, cats may be the next big thing in cryptocurrency, thanks to a new game that uses Ethereum.

Called Cryptokitties, the game allows players buy, sell and breed unique cartoon kittens. According to Bitcoinist, the object of the game is to acquire cartoon kittens, each with a specific set of attributes, and then try to generate kittens with rare attributes by “breeding” them with other cats in their stable. Players looking to breed desirable kittens can acquire or sell kittens on a marketplace for the game that’s exclusively transacted on the Ethereum blockchain.

The Ethereum blockchain differs from the one used by bitcoin in that it supports contracts, so the kittens are booked as digital assets recorded and transacted on the Ethereum blockchain, including the transfer of the digital kitten between users.

While that may sound somewhat technical, the game itself, launched Nov. 28, has surged in popularity. Some estimates suggest that the game’s transactions now account for 4 percent of all transactions on the Ethereum blockchain, with that number continuing to grow. Figures from Kittysales indicate that total sales of the digital kittens now total 20,615 as of 8:30 pm EST today, involving the transfer of 3,384.56 ETH worth a total of just over $1.6 million.

If the idea of breeding and selling cats on a cryptocurrency platform sounds a bit like an elaborate joke, in part it is meant to be. Elsa Wilk, CryptoKitties’ marketing director, said that “our approach to brand and marketing is, in part, a tongue-in-cheek critique of the ICO market today,” referring to the boom in initial coin offerings by sometimes dubious companies. But Wilk added that it’s also meant to provide education to the broader public via a fun, interactive game, and so far it appears to be starting to achieve that purpose.

Given the explosive growth of ICOs, complete with various scams and tulipmania-style investment along the way, a game that utilizes tradable kittens is certainly no worse, and perhaps arguably better, than many of the ICOs that have attracted investors to date.

Image: Cryptokitties