Cool Cats Inks Partnership With Animoca Brands

Cool Cats, a popular collection of 9,999 feline-themed profile picture NFTs, has closed a strategic investment from Animoca Brands, the web3 gaming powerhouse.

“We’re thrilled to work more closely with Animoca Brands and tap into their deep gaming expertise to open up new immersive experiences for the Cool Cats community,” said Cool Cats CEO Stephen Teglas.

Blockchain Gaming

Animoca Brands has been a prolific investor in web3 startups with a focus on blockchain gaming. Its portfolio includes stakes in Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, and Star Atlas.

“Cool Cats is a leading example of metaverse native IP based on the principle of decentralized ownership,” said Animoca co-founder Yat Siu. “Our belief in what the Cool Cats team has built, along with our commitment to the NFT space – which we believe will unlock the next frontier of gaming – could not be stronger.”

Yat Siu Purchased Cool Cat 7807 For 18.9 ETH On October 5.

Cool Cats launched in June 2021 and was one of the stars of the NFT bull run. Minted for just 0.02 ETH ($40 at the time), the floor price of the collection multiplied a thousand-fold to above 20 ETH in October.

Like most NFT collections, prices have fallen significantly this year and the floor price currently stands at 3.25 ETH ($4,400), up 20% since the deal was announced.

BAYC Community Council

Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) NFT collection, has announced the creation of a Community Council with “the intention of representing the club at large and providing an avenue for new perspectives.”

The inaugural council consists of seven BAYC holders “with a proven track record of proactively and positively contributing to the club since the start,” and will serve as a conduit between the community and Yuga Labs.

BAYC is the most valuable NFT collection with a market capitalization of $1B. Ape #5911 was sold earlier today for 155 ETH ($200,000).

BAYC #5911

State Of The Market

Secondary sales volumes have finally broken their losing streak, with $123M traded in the week ending October 3. This represents an increase of 8% over the previous week.

Source: Dune Analytics