Cool Cats NFT Guide: Why Are So Many People Buying Cool Cats?

Cool Cats is an Ethereum-based collection of 9,999 randomly generated NFTs. The project and surrounding community have grown considerably since its launch in July 2021, and the project is often viewed as one of the 2021 “blue-chip” NFT in its early phases.

The 1st Generation of Cool Cats (the team has hinted at enabling the “breeding” of future generations– we’ll get into that below) is limited to the 9,999 originally-released cats, all of which are randomly assembled from over 300,000 feature combinations: a unique body, face, hat, and outfit. 

Cool Cats

Cool Cat holders receive:

  1. Access to the Cool Cat community
  2. Random airdrops 
  3. Access to future Cool Cat events
  4. A non-exclusive license to do anything with their personal Cool Cat NFTs.  

The Cool Cats project also utilizes a “coolness” scale. The bulk of Cool Cats are worth between 3 to 6 points:

  1. Cool: 4,599 cats are between 3 to 4 points
  2. Wild: 3,000 cats are between 5 to 6 points
  3. Classy: 1,750 cats are between 7 to 8 points 
  4. Exotic: 650 cats are between 9 to 10 points 
 CoolCatsNFT site)

Cool Cats rankings (source: CoolCatsNFT site)

There are 66 “super rare” cats that are entirely unique. The remainder of the Cool Cats is all blue with a slew of costumes like knight helmets, TV heads, chef hats, and so on. Cats with completed outfits are considered the rarest, or coolest. For example, a cool cat with a fully assembled pirate costume is considered cooler than one with a pirate body and a beanie head. 

About the Cool Cats NFT Team & Holders

The Cool Cats project was founded by 4 pseudonymous members with interests in art and cryptocurrency. The team includes:

  1. Clon: The Catoonist (https://www.instagram.com/thecatoonist/),  the primary illustrator and originator of the project.
  2. Tom: smart contracts and technical interfaces.
  3. Lynq: building and maintaining the website. 
  4. ELU: Creative direction lead, as well as marketing, project management. 

Of the 9,999 Cool Cats in the collection, 4 cats were reserved for the staff members (one each.) 100 were reserved for future competitions and holders airdrops. 

Since Cool Cats NFT Release Date in  July 2021, Cool Cats have been traded over 22,000 times in secondary markets

As of writing, The vast majority of holders have 1 Cool Cat, and about 30 wallets have 11-15. 3 wallets have over 150+ Cool Cats. In total, there are about 4,800 unique addresses that hold a Cool Cat NFT. 

Perks to Holding a Cool Cat NFT

The Cool Cats project claims to give back 20% of all ETH raised in primary and secondary markets back to the Cool Cats community through contests and raffles. 

Cool Cat holders also get limited edition Cool Cat-related NFTs every month. Additional perks and launches include:

  • A $MILK Token
  • Future Airdrops
  • Cool Cat Breeding

Cool Cats Roadmap

The Cool Cats roadmap currently stretches to Q2 2022. It includes a wide variety of ambitious additions to the Cool Cats project, such as the MILK tokens, adventurer’s guilds and other gamification activations, a voting platform, and a “top-secret project.”

 Cool Cats Discord)

The Cool Cats Roadmap as of Q4 2021 (Source: Cool Cats Discord)

There are limited details on the creatures within the Cool Cats ecosystem, but it seems they hold some combinations of Cool Cat traits. 

 Cool Cat Discord)

An overview of the Cool Cat creature stages (source: Cool Cat Discord)

The $MILK Token

The Cool Cats team announced a $MILK token will be airdropped to all Cool Cat holders. MILK serves as a currency used within the Cool Cats ecosystem. It is rumored to serve some sort of staking functionality, or as a currency within the yet-to-be-released Cool Cats metaverse. 

Preliminary developments of this metaverse have been shared on Discord and Twitter. 

“It’s kind of like the Sims, but for Cool Cats,” says a Cool Cat holder on Discord. “Your Cats can interact with other Cats, change the island they live on, and you’ll be able to use milk tokens to buy gear and clothing. Plus if you know anything about blockchain gaming, they’re laying the groundwork for a game system that will “talk” to other systems, allowing you to move your Cats from metaverse to metaverse.”

Editor note: Our article on bottom-up development explains how cryptocurrency-savvy video game developers are working to build NFTs that can be used and accessed by different gaming environments.

Milk Collaborations: How to Get Cool Cat NFT Airdrops

Milk collaborations are essentially just free NFTs (art and other airdrops) sent to Cool Cat holders. 

Cool Cat airdrops are randomized– the only way to qualify is by holding a cool cat in your wallet. However, it is speculated that some specific airdrops may only be given to wallet addresses that match certain criteria, such as the length of time holding a Cool Cat. 

For example, the team may choose to airdrop all recent Cool Cat buyers some goods as a welcome to the NFT community. Alternatively, long-term holders may be airdropped as an incentive to continue holding the Cool Cat NFT.

These airdrops are generally determined by the team as what’s most fit given the current state of the Cool Cat community.

Breeding: Can You Breed Cool Cats?

There isn’t much information available online about breeding Cool Cats, but it does seem that this feature may be rolled out at some point in 2022.

If you’ve been in the NFT and digital collectible space for a while, you may find some familiarity in the concept of breeding digital cats– Crypto Kitties was the first project to do so in 2017. 

Common speculation on breeding is that holders that have two or more Cool Cats can combine them to generate a Second Generation Cool Cat, which would use shared traits from the parent cats. 

Cool Cats NFT Price

The Cool Cats NFT project saw a significant ramp-up in price and attention in the first week of its launch in early July 2021, going from 0.05 ETH to over 1 ETH in about a week. 

 

Analytics on Cool Cat Prices (courtesy Dune Analytics, user @masroor)

Analytics on Cool Cat Prices (courtesy Dune Analytics, user @masroor)

By August 2021, the Cool Cat average sale price on secondary markets doubled to 2 ETH, closing out around 6.5 ETH by the end of the month. 

The Cool Cat floor price hit a high of 14.5 ETH in September 2021, with the most expensive Cool Cats selling for between 69 ETH to the highest Cool Cat sale of 320 ETH.

Floor price tracker for Cool Cats

Floor price tracker for Cool Cats

How to Buy Cool Cats NFT

Cool Cats can be purchased on secondary markets like OpenSea, or directly from Cool Cat Holders. The easiest, lowest-friction way to buy a Cool Cat is on OpenSea. 

Cool Cats NFT on Opensea

Cool Cats NFT on Opensea

Best Cat NFTs (Other Than Cool Cats)

There are several cat-related projects that are unaffiliated with Cool Cats worth taking a gander at.

  1. Gutter Cat Gang
  2. Stoner Cats
  3. EtherCats

Final Thoughts: Are Cool Cats NFTs Legit + Additional Links

Humans have been fascinated by cats since Egyptian times, and it seems this human behavior hasn’t changed much in the blockchain age. 

The weight and momentum of the Cool Cats NFT project, like all other NFT projects, is carried by its vibrant and active community, which can be found on the Cool Cat Discord and all throughout crypto-related Twitter. 

The post Cool Cats NFT Guide: Why Are So Many People Buying Cool Cats? appeared first on CoinCentral.

Publication date: 
10/17/2021 - 17:19
Author: 
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