NFT
Cool Cats was one of many hottest profile image tasks to come back out of the late 2021 NFT market growth, however costs declined sharply final yr as collectors’ gripes piled up. Right this moment the founders behind the challenge unveiled a brand new path ahead with refreshed branding—and future growth past Ethereum with customizable, full-body avatars.
“With our new strategic course and rebrand, we wish to convey to the group and the broader Web3 area that Cool Cats is right here to remain,” Cool Cats Group CEO Stephen Teglas informed Decrypt. “We’re not simply constructing for the following yr, or the following 5 years—we’re planning for the long run.”
Cool Cats and Cool Pets NFT holders had been airdropped a free Fracture NFT at this time, which co-founder and Head of Content material Robert Mehew described as “dynamic NFTs that allow a brand new storytelling expertise by way of digital collectibles.” The Fracture NFTs will evolve as holders full missions throughout the Cooltopia recreation, and ultimately unveil potential rewards.
New PFP. New Chapter. Similar Blue Cat.
See you at our City Corridor streaming LIVE on YouTube tomorrow Feb 1 at 3PM ET: https://t.co/EDXbg2QrFU pic.twitter.com/m4AmFhSD9i
— Cool Cats (@coolcats) January 31, 2023
However the upcoming Explorers NFTs will signify a bigger growth of the Cool Cats challenge later this yr, together with customizable full-body avatars that can be utilized throughout a number of blockchain networks and introduced into varied supported apps and platforms.
Particulars are nonetheless scarce on the total extent of the Explorers performance, nevertheless it sounds much like what fellow Ethereum NFT challenge Doodles simply did with Doodles 2. That challenge not solely bridges over to a special blockchain, Move, however turns the acquainted profile footage into absolutely featured avatars that may be tweaked and outfitted with digital attire.
Ethereum NFT Hit Doodles Will Launch Doodles 2 on Move Blockchain
A Cool Cats consultant informed Decrypt that the Explorers NFTs will work throughout a number of layer-1 blockchains and layer-2 scaling networks, together with some that aren’t Ethereum Digital Machine (EVM) appropriate. These platforms can be revealed within the coming months. Cool Cats has beforehand used Ethereum sidechain community Polygon for particular version NFT drops and a cellular recreation.
“Our purpose is to take away as a lot friction as attainable,” a rep mentioned relating to the motion of Cool Cats avatars throughout blockchains. The crew additionally plans to work with group members to develop property for use with the Explorers.
Right this moment’s bulletins had been paired with a rebranding of the Cool Cats challenge throughout social media and advertising and marketing supplies, which is able to correspond with new narrative content material centered on Blue Cat, the challenge’s predominant character.
“Our new emblem contains a forward-facing cat, a nod to our give attention to constructing for the long run,” Cool Cats co-founder and Inventive Director Colin “Clon” Egan informed Decrypt.
An instance of the refreshed Cool Cats branding. Picture: Cool Cats
Cool Cats costs surged in late 2021 as the broader NFT market surged, pushing the ground worth—or the worth of the cheapest-listed NFT on a secondary market—leaping to just about 14 ETH (over $48,000) that October. The challenge signed with main Hollywood company Inventive Artists Company (CAA) in March 2022 to discover media and licensing offers.
What Occurred to Cool Cats? The Rise, Fall, and Way forward for the Ethereum NFTs
However Cool Cats costs crashed final yr amid management departures, blended reactions to Cooltopia, and gripes that the founders weren’t doing sufficient to help the challenge. As of this morning, forward of the bulletins, the ground worth sat at simply 2 ETH based on information from NFT Worth Flooring. That’s lower than $3,200 value, given the depressed worth of Ethereum.
Thus far, Cool Cats has generated about $377 million value of secondary market buying and selling quantity, per information from CryptoSlam, whereas the Cool Pets spinoff assortment has added over $105 million to that tally. Cool Cats collaborated with Time journal in 2021 for limited-edition NFTs, as effectively, and at this time introduced a advertising and marketing take care of {hardware} pockets maker Ledger.
Will a refreshed look, gamified reward NFTs for present homeowners, and a larger-scale avatar push throughout a number of chains assist Cool Cats reaffirm its “blue chip” standing after an up-and-down yr? Teglas believes that going greater and broader is vital to rising Cool Cats into an leisure model that may attain past the Web3 trustworthy.
“We finally consider that scaling Cool Cats’ model consciousness and onboarding extra members into the model is likely one of the handiest methods for us to ship on the expectations of our group,” he informed Decrypt.
