CryptoBunnies: China’s Xiaomi Launches CryptoKitties Knock-Off

Xiaomi, one of China’s biggest smartphone makers, has quietly launched its own CryptoKitties knock-off early today.

Dubbed Jiami Tu, (or CryptoBunnies, in translation), the service allows users with Xiaomi accounts to adopt digital rabbits with different designs and built-in scarcity on a blockchain system that stores the transactions for each adoption. However, it’s unclear at the moment whether the company is using a public or private blockchain to support the product.

Xiaomi said in a service agreement that, to start with, it will only issue a limited number of digital pets, starting at 11:00 a.m. Beijing time every day. The amount available daily is as yet undisclosed.

Despite a somewhat subdued launch for the testing phase of the new service, it seems to have seen enthusiastic engagement from users, with all the CryptoBunnies available for today being adopted within an hour of the service starting.

Xiaomi also specifically highlighted that the platform prohibits any fund raising or exchange between fiat and cryptocurrencies through the new digital pet, a move that follows the China’s current ban on initial coin offerings and cryptocurrency trading.

The service marks growing interests from Chinese enterprises in stepping up efforts to develop blockchain applications as a way to test the emerging technology and increase user engagement.

Xiaomi has already joined the Linux Foundation-backed blockchain consortium Hyperledger in bid to utilize blockchain technology to boost the firm’s internet solutions.

The CryptoBunnies launch also follows a similar move by the country’s search giant Baidu, which rolled out a crypto dog service in early February.

CryptoBunnies image via Xiaomi

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Let’s block ads! (Why?)

Source: Coindesk