What are Cool Cats?
Summary of Cool Cats NFTs
- Cool Cats are a collection of 9,999 randomly generated non-fungible tokens depicting a blue cartoon cat.
- The team responsible for the creation of Cool Cats hopes to increase NFT adoption and awareness while boosting NFT utility across the space.
- The collection sold out within hours of the team dropping the initial floor price; famous owners include Mike Tyson and Steve Aoki.
- The value of Cool Cats is driven by the rarity of individual cats and their potential for increased utility within the NFT ecosystem.
Cool Cats are non-fungible tokens (NFTs) representing 9,999 hand-illustrated cats, each with an algorithmically generated set of traits.
Each cat depicted within the series has its own unique set of features, a combination of some of the hundreds of different traits found in the collection. Trait combinations, including different body shapes, facial expressions, clothes and accessories, help to ensure that no two cats in the collection are the same.
The success of the first generation of Cool Cats NFTs led to a frenzy of community involvement and trading activity. The Cool Cats team seeks to deliver several new features in upcoming versions of the collection.
The second generation of Cool Cats is expected to feature NFT breeding (similar to CryptoKitties), which allows users to create new NFTs based on the hereditary traits of parent NFTs.
Who created Cool Cats NFTs?
The primary character of the Cool Cats NFT collection, Blue Cat, was created 10 years ago by artist and project founder Clon (short for Colin). While little else has been revealed about the primary members of the Cool Cats team, the remaining founders go by the names Xtremetom, Lynqoid and Elu.
Cool Cats NFTs were first introduced on July 1, 2021, with the intention of inspiring a community to steer the project into the future. The first hour of the launch did not receive the level of interest the Cool Cats team had initially hoped for.
After only a few NFTs were bought in that first hour, the creators slashed the Cool Cats mint price from 0.06 ETH to 0.02 ETH. They even refunded collectors who had minted Cool Cats NFTs at the original, higher price. The community soon embraced this dedication to the project, sales picked up speed and the Cool Cats collection sold out completely within eight hours.
Days later, Mike Tyson changed his Twitter profile picture to a Cool Cats NFT. Then a collaboration with Time Magazine depicted a series of Cool Cats posing with copies of the famous periodical. Cool Cats NFTs went on to become one of the most popular NFT collections of 2021.
What makes Cool Cats NFTs unique?
The team is building on the brand’s popularity by incorporating new gaming mechanics and features into Cool Cats NFTs. In the first quarter of 2022, Cool Cats launched the Adventurer’s Guild. Collectors can earn the project’s native social token, MILK, by completing quests with their Cool Cats NFTs. MILK is an ERC-20 cryptocurrency token that can be exchanged for randomized prizes.
An additional 19,999 NFTs were created under the moniker Cool Pets in February 2022. The Cool Cats team also plans on developing more gaming features and ways for collectors to interact with their NFT companions.
The aesthetic simplicity of Cool Cats NFTs differs from the hyper-detailed visuals of some other collections. The Cool Cats collection is rendered plainly, reminiscent of Saturday morning cartoons. With little more than a cartoonish head and shoulders, it may be this nostalgic simplicity that contributes most to the collection’s popularity.
Why buy Cool Cats NFTs?
While decorating your social media profile with a Cool Cats NFT may earn you some serious internet cred, there are a number of other reasons to add one or more of these friendly felines to your collection.
The appeal of Cool Cats is not limited to their on-screen aesthetics. Some collectors hold Cool Cats with the expectation of earning future rewards such as additional spin-off collections in the form of eggs and community rewards like MILK tokens. Others may look forward to participating in more gamified aspects of Cool Cats, like NFT breeding and new mini-game adventures.
What makes Cool Cats NFTs valuable?
Part of what makes a Cool Cats NFT valuable is its unique combination of traits. Common items adorning each cat, like beanies and hats, are given a lower rarity value than less common ones like computer heads and ape outfits.
Perks and increased functionality are expected to be introduced in future generations of Cool Cats NFTs. Eggs, for example, are one such addition to the collection. Cool Pets, which hatch from these eggs, use Cool Cats as a springboard for a new, gamified NFT experience allowing owners to raise their own digital pet.
Cool Cats NFT rarity
A vast majority of Cool Cats belong to one of four groups, ranked by rarity using a point-based “coolness” system:
- Cool: 3-4 points, 4,599 cats
- Wild: 5-6 points, 3,000 cats
- Classy: 7-8 points, 1,750 cats
- Exotic: 9-10 points, 650 cats
The Exotic 2 tier includes rare Cool Cats, representing less than 150 NFTs of the 10,000 in the collection. There are also 66 super rare Cool Cats and a further 9 one-of-one Cool Cats which are the rarest and most desirable in the collection.