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How often have you bought a pet store gift card with cryptocurrencies? Between occasionally buying a Petco gift card with Bitcoin and the ease with which cryptocurrencies can theoretically support animal rights activists if nonprofits are willing to set up donations, I have wondered why there aren’t more cryptocurrencies for pets. Maybe half the ones I spotted are now inactive, but Catcoin and Bunnycoin at least still have their websites up. Here’s the Top 3 Altcoin Cryptocurrencies For Pets and Animal Lovers.
Catcoin is a pretty straightforward clone of Bitcoin that uses Scrypt. It’s actually hard to tell whether it’s still active or not: I happen to know that the creator of this cryptocurrency dropped out of sight on Bitcointalk for a while and made very little effort to reach out to the cryptocurrency community to make Catcoin one of the serious contenders in the cryptocurrency world.
So, it’s a shitcoin, right? I guess it sort of depends on whether retailers and especially business owners in the pet care niche would be willing to pick up the ball on this one.
At most, it’d be a marketing gimmick: Pet store owners could advertise that cat owners could pay for a cat toy by mining some Catcoin while they’re sleeping, for instance. So obviously this isn’t one to take very seriously unless businesses, or maybe a cryptocurrency developer who is willing to try an Europecoin-style reboot, are willing to pick up the ball.
Bunnycoin seems to be a relatively recent one with a newsletter that was released in June 2017. However, its Twitter feed doesn’t have any real updates beyond late September. As you might expect, the mascot is cute and the cryptocurrency’s stated goal is to “spread love, peace, happiness, and economic freedom worldwide.” So far, its major activity seems to center around raising money for charity.
Ten percent of newly mined Bunnycoins are theoretically designated for donation to charity and users can vote on which charity that the designated fund is donated to. Each vote costs 1 OHare (.00000001 Bunnycoin) and the 10 charities that get the most votes every week gets a cut of the charity fund.
A reputation for being a charitable coin may be helpful for getting the attention of cryptocurrency users who care about making a difference in society. However, as things stand now, the charitable organizations that receive Bunnycoin donations have very little incentive to hodl and a huge incentive to dump the coin.
If you’ve been following cryptocurrencies about forever, you associate this one with the funny Shibe with funny grammar. Dogecoin became popular enough to be integrated into just about every payment processor that works with multiple cryptocurrencies and the community has a history of supporting good causes and sponsoring Olympic teams.
The community does seem to be less active than it used to be, maybe because some of its users have moved on to other cryptocurrencies. It’s been replaced in the top three cryptocurrencies, but this is an example of a cryptocurrency that became popular because its creators made it fun.
Should There Be More Cryptocurrencies For Pets?
That would depend on whether (as mentioned before) businesses might be willing to integrate a pet-themed cryptocurrency into their business model. Blockchain apps are optional but recommended, especially in light of the fact that pet owners might prefer to buy a brand of pet food that isn’t made in China in light of the fact that dog treats from China has been known to make pets sick.
Some pet store chains like Petco and Petsmart might consider creating a “coin” or token that can be used in place of a gift card. Instead of doing an IPO when a business wants to expand, that business might consider doing an ICO with tokens that customers can redeem for an equivalent amount of value in the store later.
However, Dogecoin started out as a joke based on a popular meme featuring a breed of dog known as a shibe and is the only animal-themed cryptocurrency to go big.
That says something about the difficulty of marketing a themed coin in a way that improves the odds of widescale adoption in an environment in which there are a million zillion altcoins and some of them were scamcoins.
The problem isn’t even limited to animal-themed currencies when Earthcoin (for environmental and social causes) is worth, basically, dust and Orbitcoin (for science) has trouble staying listed on payment processor sites like Coinpayments.
If animal themed cryptocurrencies have such a difficult time getting adopted, should altcoin creators just give up? Or should cryptocurrency developers focus on creating new features that businesses in the pet care niche like veterinary clinics and pet supply stores might find useful?
Integrating something like Catcoin and Bunnycoin might be a cute marketing gimmick, but slapping a name and a cute logo on a Bitcoin clone just isn’t enough anymore. If anything, Catcoin could be rebooted as the token that lubricates a blockchain application for veterinarians. Just don’t count on a new animal-themed cryptocurrency going big unless the development team is willing to devote a lot of their own time, energy, and resources to making that cryptocurrency useful to the pet care industry
Thanks for reading!
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