Bursting Tech Bubbles Before They Balloon

IEEE Fellows take a hard-nosed look at what technology is--and isn't--on the horizon

15 min read

IEEE Fellows Survey

As our population ages and needs more care, there will be fewer young people to provide it. But don’t expect to fill the personnel gap with humanoid robotic nurses, say a majority of the more than 700 IEEE Fellows surveyed in a joint study by the Institute for the Future (IFTF) and IEEE Spectrum.

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The Spectacular Collapse of CryptoKitties, the First Big Blockchain Game

A cautionary tale of NFTs, Ethereum, and cryptocurrency security

8 min read
Vertical
Mountains and cresting waves made of cartoon cats and large green coins.
Frank Stockton
Pink

On 4 September 2018, someone known only as Rabono bought an angry cartoon cat named Dragon for 600 ether—an amount of Ethereum cryptocurrency worth about US $170,000 at the time, or $745,000 at the cryptocurrency’s value in July 2022.

It was by far the highest transaction yet for a nonfungible token (NFT), the then-new concept of a unique digital asset. And it was a headline-grabbing opportunity for CryptoKitties, the world’s first blockchain gaming hit. But the sky-high transaction obscured a more difficult truth: CryptoKitties was dying, and it had been for some time.

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