Animoca Brands is throwing some of its funding might behind Cool Cats – one of the NFT world’s leading “blue-chip” collections.
Cool Cats Group LLC, the web3 company behind the cartoon-feline-themed non-fungible token collection, has just announced that it’s received a “strategic investment” from Animoca Brands.
The latter is a powerhouse investor in crypto startups, with particular focus on GameFi (aka “play-to-earn” blockchain gaming), advancing digital property rights through NFTs and building the “open metaverse”.
As reported by Stockhead, Animoca Brands recently raised another US$110 million from a host of new investors, pushing its valuation close to a whopping US$6 billion.
Big, then. And how has the Cool Cats NFT trading volume and price reacted on the news? Oh it’s up (at the time of writing). In fact, within 24 hours of the investment news, Cool Cats sales volume registered a 200%+ spike.
So what’s the strategy behind this latest investment you might be wondering? According to Animoca, it’s to help drive Cool Cats’ mission to become the largest global NFT brand and a robust media and content company, including expansion of its gaming offerings.
Considering Animoca’s influence has helped build some of the biggest NFT, gaming and metaverse success stories (e.g. The Sandbox and Sky Mavis/Axie Infinity), this could be the start of a very cool partnership for Cool Cats.
‘Our belief in Cool Cats could not be stronger’
And we were about to say “beginning of a beautiful friendship” but in actual fact, this union is the culmination of a longstanding relationship between Ken Cron, executive chairman of Cool Cats Group, and Yat Siu, co-Founder and executive chairman of Animoca Brands.
“Yat is one of web3’s foremost thought leaders and he has built one of the most important companies in the industry,” said Cron. “Working more closely with Animoca Brands will bring tremendous value to Cool Cats and its community. Our new CEO, Stephen Teglas, and the entire Cool Cats team, couldn’t be more excited to get started.”
We’re definitely feeling the mutual respect in the metaversal room, because here’s how Siu responded to Cron’s glowing appraisal…
“Ken is one of the most experienced gaming and media executives in the world, and it has been my pleasure to have him as an advisor to Animoca Brands’ board of directors for the past two years.
“Cool Cats is a leading example of metaverse native IP based on the principle of decentralised ownership,” continued Siu, adding:
“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.”
Cool Cats keeps it casual with GAMEE
An example of the existing relationship between the two brands materialised in early September, when Cool Cats announced it was partnering with GAMEE – one of Animoca’s subsidiaries.
GAMEE is a casual-gaming platform that connects players, brands, and game creators in its metaverse space. As part of that particular partnership, Cool Cats NFT holders have been able to access exclusive NFT claims, raffles, and community giveaways.
The exploration of blockchain gaming and the metaverse is a natural fit for blue-chip NFT intellectual property – especially character/avatar-based collections. (Think Yuga Labs’ Bored Ape Yacht Club and its developing Otherside digital realm, as a prime example.)
If you’re curious to see how the Cool Cats’ foray into these sorts of areas develops, then keep watching this space.