You may have heard of Pokemon Go, the game where you hunt for virtual Pokemon characters in the real world. You may have also heard of Bitcoin, which uses encryption and technology known as a blockchain to create a public ledger. Now if you combine the cryptocurrency technology of Bitcoin with the augmented reality of Pokemon Go, you get the game CryptoKitties.
People are using digital currency to buy virtual cats, pushing up the price of particularly rare virtual cats much like the Beanie Baby craze pushed prices of ordinary toys into the thousands. If you thought digital currencies like Bitcoin had no purpose, now you can see that there is a purpose in buying virtual cats using digital money.