{"id":8373,"date":"2022-09-24T06:58:10","date_gmt":"2022-09-24T10:58:10","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=8373"},"modified":"2022-09-24T06:58:10","modified_gmt":"2022-09-24T10:58:10","slug":"blue-chip-nfts-101-cool-cats-lands-on-its-feet-and-does-it-in-style","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/09\/24\/blue-chip-nfts-101-cool-cats-lands-on-its-feet-and-does-it-in-style\/","title":{"rendered":"Blue Chip NFTs 101: Cool Cats Lands On Its Feet And Does It In Style"},"content":{"rendered":"

Do the Cool Cats still have Blue Chip status? The collection fell on hard times lately, but so has any other NFT project out there. We\u2019re in a bear market, after all. A Hollywood agency manages the Cool Cats project, they had the coolest exhibit in NFT NYC<\/a>, and collaborated with TIME magazine in a weird NFT drop. Still, the collection\u2019s floor price is down to levels not seen since the project\u2019s conception.<\/p>\n

The Cool Cats started spreading good vibes in July 2021. It\u2019s a PFP collection consisting of 9.999 unique cats assembled from various traits that could form 300K possibilities in total. The ecosystem expanded in two major ways a while ago. They launched their secondary collection, the Cool Pets, and their own token, $MILK. The new coin is the blood that powers the gamified experience that the collection\u2019s creators have been releasing.<\/p>\n

pic.twitter.com\/GcpXtb5Vt8<\/a><\/p>\n

\u2014 Mike Tyson (@MikeTyson) July 9, 2021<\/a><\/p>\n\n

Speaking about those, the core team are: the smart contract programmer Tom Williamson<\/a>, web developer Rob Mehew<\/a>, creative director Evan Luz<\/a>a, and illustrator Colin Egan AKA The Cartoonist<\/a>. The unofficial fifth member of the band is Mike Tyson. A few days after launch, the eternal heavyweight champion changed his Twitter profile picture to a Cool Cats and that propelled the collection when it needed it the most.\u00a0<\/p>\n

The Relationship Between Cool Cats And CAA<\/p>\n

The Cool Cats went Hollywood on March 2021. In a move unprecedented at the time, the creators signed with leading talent agency CAA. In a press release from the time<\/a>, the partners explained the deal in detail:<\/p>\n

\u201cLeading entertainment and sports agency Creative Artists Agency (CAA) has signed Cool Cats, producers of the widely known Cool Cats and Cool Pets NFT collections. In collaboration with the gamified NFT company, the agency will identify and create opportunities for Cool Cats characters across an array of areas, including licensing and merchandising, animated content, brand partnerships, live events, publishing, and more.\u201d<\/p>\n

So, there\u2019s serious money and interests behind the cats. Why are they fading away into the background, then? Is it just an effect of the bear market?\u00a0<\/p>\n\n

ETH price chart for 09\/24\/2022 on OkCoin | Source: ETH\/USD on TradingView.com<\/a>
\nCool Cats \u2019 got utility<\/p>\n

First of all, Cool Cats holders get their NFT\u2019s property rights. That means, they can produce commercial projects with their NFT\u2019s images. Cool Cat owners also get access to the project\u2019s Discord server, and priority for all of the exclusive Cool Cats events and mints. Holders can stack their\u00a0 NFTs and get yield in $MILK.<\/p>\n

Another benefit is access to Cooltopia, a project they define<\/a> as \u201ca gamified ecosystem built on interactivity and utility, community rewards and growth, collaboration with brands, and much more.\u201d Another self-definition<\/a> has Cooltopia as a \u201cplace where having a Cool Cats NFT grants you evolving access to games, tokens, community events, collaborations, and more.\u201d\u00a0<\/p>\n

Plus, there\u2019s the Cool Pets side project. A reward to NFT holders and a way for newcomers to enter the ecosystem at a lower price point. The Cool Pets collection has 19,999 units. Every holder got a pet for free and the general public bought the other half. The Cool Pets first come as an egg image that hatches and reveals the final NFT. The pets are divided into four elements: Fire, Water, Air, and Grass.<\/p>\n

The $MILK token<\/p>\n

The $MILK is an ERC20 token on the Ethereum and Polygon blockchains. It\u2019s the oil that greases Cooltopia\u2019s gamified economy. According to the documentation<\/a>:<\/p>\n

\u201c$MILK is the key to all sorts of functionality and fun in the Cool Cats ecosystem, from buying Battle or Housing chests to going on quests.\u201d\u00a0
\n\u201c$MILK is also how you\u2019ll enhance and evolve your Cool Pets.\u201d
\nThis one describes the NFTs staking-like mechanism: \u201cYour Cool Cat is earning $MILK just by being cool (the $MILK claiming clock begins as soon as the contract is deployed), and that $MILK will accumulate over time.\u201d<\/p>\n

Controversy And Suspicion<\/p>\n

There might be something strange going on with this project. In April, the newly-appointed CEO stepped down after just three months. There was never a credible explanation given. The collection just tweeted<\/a>, \u201cChris Hassett has stepped down as CEO. We thank him and wish him the best moving forward.\u201d Is there problem brewing in the Cool Cats headquarters?\u00a0<\/p>\n

And then there\u2019s the price. At its height, in October 2021, the Cool Cats floor price was around 26 ETH. Almost a year later, the floor Cool Cats<\/a> are trading for 2.9 ETH. That\u2019s not all, the Cool Pets<\/a>\u2019 floor price is currently at\u00a0 0.18 ETH. Are those Blue Chip numbers? Even though we\u2019re basically in the middle of a crypto winter, the collection seems to be falling off a cliff\u2026\u00a0<\/p>\n

Will the Cool Cats land on their feet?<\/p>\n

Featured Image: screen shot from the collection’s site<\/a> | Charts by TradingView<\/a><\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Do the Cool Cats still have Blue Chip status? The collection fell on hard times lately, but so has any other NFT project out there. We\u2019re in a bear market, after all. A Hollywood agency manages the Cool Cats project, they had the coolest exhibit in NFT NYC<\/a>, and collaborated with TIME magazine in a weird NFT drop. Still, the collection\u2019s floor price is down to levels not seen since the project\u2019s conception.<\/p>\n

The Cool Cats started spreading good vibes in July 2021. It\u2019s a PFP collection consisting of 9.999 unique cats assembled from various traits that could form 300K possibilities in total. The ecosystem expanded in two major ways a while ago. They launched their secondary collection, the Cool Pets, and their own token, $MILK. The new coin is the blood that powers the gamified experience that the collection\u2019s creators have been releasing.<\/p>\n

pic.twitter.com\/GcpXtb5Vt8<\/a><\/p>\n

\u2014 Mike Tyson (@MikeTyson) July 9, 2021<\/a><\/p>\n

Speaking about those, the core team are: the smart contract programmer Tom Williamson<\/a>, web developer Rob Mehew<\/a>, creative director Evan Luz<\/a>a, and illustrator Colin Egan AKA The Cartoonist<\/a>. The unofficial fifth member of the band is Mike Tyson. A few days after launch, the eternal heavyweight champion changed his Twitter profile picture to a Cool Cats and that propelled the collection when it needed it the most.\u00a0<\/p>\n

The Relationship Between Cool Cats And CAA<\/p>\n

The Cool Cats went Hollywood on March 2021. In a move unprecedented at the time, the creators signed with leading talent agency CAA. In a press release from the time<\/a>, the partners explained the deal in detail:<\/p>\n

\u201cLeading entertainment and sports agency Creative Artists Agency (CAA) has signed Cool Cats, producers of the widely known Cool Cats and Cool Pets NFT collections. In collaboration with the gamified NFT company, the agency will identify and create opportunities for Cool Cats characters across an array of areas, including licensing and merchandising, animated content, brand partnerships, live events, publishing, and more.\u201d<\/p>\n

So, there\u2019s serious money and interests behind the cats. Why are they fading away into the background, then? Is it just an effect of the bear market?\u00a0<\/p>\n

ETH price chart for 09\/24\/2022 on OkCoin | Source: ETH\/USD on TradingView.com<\/a>
\nCool Cats \u2019 got utility<\/p>\n

First of all, Cool Cats holders get their NFT\u2019s property rights. That means, they can produce commercial projects with their NFT\u2019s images. Cool Cat owners also get access to the project\u2019s Discord server, and priority for all of the exclusive Cool Cats events and mints. Holders can stack their\u00a0 NFTs and get yield in $MILK.<\/p>\n

Another benefit is access to Cooltopia, a project they define<\/a> as \u201ca gamified ecosystem built on interactivity and utility, community rewards and growth, collaboration with brands, and much more.\u201d Another self-definition<\/a> has Cooltopia as a \u201cplace where having a Cool Cats NFT grants you evolving access to games, tokens, community events, collaborations, and more.\u201d\u00a0<\/p>\n

Plus, there\u2019s the Cool Pets side project. A reward to NFT holders and a way for newcomers to enter the ecosystem at a lower price point. The Cool Pets collection has 19,999 units. Every holder got a pet for free and the general public bought the other half. The Cool Pets first come as an egg image that hatches and reveals the final NFT. The pets are divided into four elements: Fire, Water, Air, and Grass.<\/p>\n

The $MILK token<\/p>\n

The $MILK is an ERC20 token on the Ethereum and Polygon blockchains. It\u2019s the oil that greases Cooltopia\u2019s gamified economy. According to the documentation<\/a>:<\/p>\n

\u201c$MILK is the key to all sorts of functionality and fun in the Cool Cats ecosystem, from buying Battle or Housing chests to going on quests.\u201d\u00a0
\n\u201c$MILK is also how you\u2019ll enhance and evolve your Cool Pets.\u201d
\nThis one describes the NFTs staking-like mechanism: \u201cYour Cool Cat is earning $MILK just by being cool (the $MILK claiming clock begins as soon as the contract is deployed), and that $MILK will accumulate over time.\u201d<\/p>\n

Controversy And Suspicion<\/p>\n

There might be something strange going on with this project. In April, the newly-appointed CEO stepped down after just three months. There was never a credible explanation given. The collection just tweeted<\/a>, \u201cChris Hassett has stepped down as CEO. We thank him and wish him the best moving forward.\u201d Is there problem brewing in the Cool Cats headquarters?\u00a0<\/p>\n

And then there\u2019s the price. At its height, in October 2021, the Cool Cats floor price was around 26 ETH. Almost a year later, the floor Cool Cats<\/a> are trading for 2.9 ETH. That\u2019s not all, the Cool Pets<\/a>\u2019 floor price is currently at\u00a0 0.18 ETH. Are those Blue Chip numbers? Even though we\u2019re basically in the middle of a crypto winter, the collection seems to be falling off a cliff\u2026\u00a0<\/p>\n

Will the Cool Cats land on their feet?<\/p>\n

Featured Image: screen shot from the collection’s site<\/a> | Charts by TradingView<\/a><\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-8373","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/8373","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=8373"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/8373\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=8373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=8373"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=8373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}