What’s all the Rage with Cool Cats NFTs collection?

Mike Tyson, Reece Witherspoon and Steve Aoki are among the Cool Cats NFT community and the creators of the NFT collection were just signed by the high-profile talent agency CAA.

It seems that everyone in the NFT sphere is starting to associate themselves with the Cool Cats NFT project. So, what is so special about having a Cool Cat NFT?

If you’re into your Profile Picture (PFP) NFTs, then you will know about Cool Cats. They are a collection of 9,999 randomly generated NFTs, which exploded onto the Ethereum blockchain in July 2021.

Each Cool Cat has a variety of traits; including over 300,000 possible combinations for the unique body, hat, face, and outfit attributes.

Having been minted for 0.02 ETH originally, the floor price for a Cool Cats NFT is currently 9.25 ETH (about $31 k) and they’ve been endorsed by various big-name celebrities.

Cool Cats endorsement

One of the biggest names to purchase a Cool Cats NFT was ‘Iron’ Mike Tyson. Tyson showcased his Cool Cats NFT as a profile picture on his Twitter account just eight days after the launch.

Since that moment, the Cool Cats ecosystem has been expanding and evolving constantly. The current trading volume for Cool Cats is among the all-time great NFT collections, at 95.4k ETH (over $320 million).

Cool collaboration

The Cool Cats team announced a huge collaboration with Time Magazine in August 2021. For this collaboration, they minted 400 NFTs of their iconic cats reading Time Magazine, based on four different designs.

To obtain one of these Cool Cats X Time NFTs, you had to enter a meme competition run by Time Magazine, and 392 of those NFTs were reserved for Cool Cats holders exclusively.

Furthermore, the president of Time, Keith Grossman, tweeted that the collaboration had happened because the Cool Cats community “exudes positivity and optimism” as well as being “family-friendly” and able to “connect cross-generationally.”

Why be a Cool Cats holder?

The Cool Cats NFT community has been incentivized by the creators since the beginning. Indeed, founders Tom Williamson (xtremetom), Rob Mehew (Lynqoid), Evan Luza (ELU), and Colin Egan (clon) pledged 20% of all ETH raised from the primary Cool Cats sale back to the community.

Besides, Cool Cat owners are always getting perks and rewards within the community and wider ‘Cooltopia’ ecosystem.

Additionally, Cool Cats holders have been consistently empowered by the project. Namely, the ‘non-exclusive license’ gives holders the power to use their NFTs in any way they please. By the same token, the Cool Cats team are able to use any of their 9,999 NFTs, should they need them for marketing, merch, etc.

Cool Pets and $MILK

Initially, the announcement of a new Cool Cats play-to-earn project sent the community into raptures. As a result, the floor price of the Cool Cats NFTs skyrocketed.

Cool Cats NFTs launched their Pets in January 2022 and $MILK became the currency of Cooltopia. The Pets is a collection of 19,999 randomly generated NFTs, of which 9,999 were reserved for Cool Cats holders. Meanwhile, the remaining 10,000 NFTs were used for the Cool Pets mint event.

In this game, you raise and nurture your Pets and earn $MILK by sending your Pets on ‘quests’. Cool Cats holders automatically earn $MILK over time or you can earn the currency by completing quests.

It takes time to raise your Pet. For instance, your Pet must pass through four stages: egg, hatching, hatched, and final form. You advance through these stages by purchasing pet items, which you then use to interact with your Pet. To purchase chests containing your Cool Pets items from the Cool Shop, you will need $MILK tokens.

Hence, you need $MILK tokens if you want to interact with your Cool Pets and thrive in Cooltopia. This currency resides on both the Ethereum and Polygon blockchains. Ethereum-based $MILK tokens are used for out-of-game purchases, while $MILK tokens on Polygon are used for in-game purchases. 

The Cooltopia and beyond

There’s never been a better time to be a Cool Cat NFT holder. For example, Cool Cat holders are always given priority in the expanding ecosystem. Moreover, if you own a Cool Cat NFT, it now commands an impressive price on the secondary markets.

If you’re the proud owner of a Pet, you’re probably building up a nice stash of $MILK tokens. The question remains, what does the future have in store for Cooltopia? The answer to that lies in the vision of the Cool Cats team.

They said of the Cooltopia: “The aim is to create the most accessible gamified NFT experience; to be a place where having a Cool Cats NFT grants you evolving access to games, tokens, community events, collaborations, and more.”

Therefore, you can expect more rich, fun, and interesting experiences as a valued member of the Cool Cats NFTs community. Indeed, with so many exciting developments in the works, you can expect to see Cool Cats maintain their prominence in the NFT market this year. 

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