There are few universal truths in crypto. One, however, is that the market is expanding at an incredible pace. Whilst Bitcoin remains far and away the most valuable crypto, there are more alt-coins in circulation now than it is physically possible for anyone to keep up with.
And amongst the hundreds of alts out there – over three thousand according to CoinGecko – there are some pretty fascinating cryptocurrencies that don’t get a lot of publicity on their own. Here’s an outline of some of the more fascinating ones among them.
Garlicoin started out in the most literal terms as a joke. It was conceived when a Reddit user posted that he would create a “garlic cryptocurrency” if he received enough up-votes. Sure enough, in true internet meme fashion, he got his votes, and thus Garlicoin was born.
Despite describing itself openly as the cryptocurrency “you never thought you needed and probably don’t,” at one stage it breached a market cap value of $1 million. As a result, the coin has since been taken with at least some degree of seriousness with plenty of examples on offer in which Garlicoin has actually become the object of a number of controversies surrounding its mining process, possible price inflation, and the subject of long debates about its future utility. At the time of writing, it remains a functional cryptocurrency, with a trading price of $0.0026.
Similar to Augur, Ethorse is designed as a cryptocurrency to facilitate interaction with betting markets but which provides a specific focus on horse-racing. Whilst handy tips for horse racing events are broadly available online, the motivation for Ethorse is to implant smart contracts into the betting ecosystem in order to guarantee player deposits, provide open-source transparency on payouts and create a rewards mechanism for leading tipsters, all secured by the blockchain.
Gambling is arguably an industry that makes a natural fit for blockchain disruption, and has seen dozens of high profile projects emerging over the last twelve months to compete in the space.
Yes, that Cthulhu (pronunciation: “Kay-Thoo-Loo”) – the devastating cosmic monster from the horror fantasies of H.P. Lovecraft. Another crypto which has emerged on the back of a cultural meme with references seeping into South Park and True Detective, the Cthulhu mythos has gone mainstream so it is perhaps not too much of a surprise that it has inspired a manifestation in crypto.
The Cthulhu Offerings cryptocurrency literally frames itself as a sort of monetary offering to the great monster whose second coming – as the rumour goes – will wreak havoc at some point in the future although his wrath can be assuaged with a bribe. Currently trading at $0.0041 with a circulation at just under 2.5 million coins, Cthulhu Offerings has a current market cap of just under $10,000, which will likely do little to calm the wrath of any cosmic entity, never mind Cthulhu.
Unobtanium is the most famous cryptocurrency on this list, and many may simply recognise it by its crypto ticker UNO. Unobtanium itself is a fictional construct of sorts that pops up now and then in science, fiction and engineering to represent the quality of something that is rare or difficult to obtain.
Accordingly, the UNO coin has been minted in limited supply – the number of UNO in circulation will never exceed 250,000, but it will be 300 years before the last UNO is minted. See it as king of crypto platinum to Bitcoin’s gold. Or that’s the idea, anyway. This cryptocurrency has actually become a reasonably significant player on the market, with a market cap exceeding $12 million and a trading price of just over $60 at the time of writing – thanks in part to its rarity, no less.