The Cool Cats NFT collection has 9,999 randomly generated variations of the Blue Cat NFTs. Each NFT consists of a range of distinctive characteristics. With over 300,000 combinations each NFT in the collection is unique.
With a similar ranking system to CryptoPunks, there are different types or tiers of Cool Cats NFT. These are Wild, Classy, and Exoctic. Cool Cats that belong to these tiers are worth a lot more points. Of course, there is a basic tier known as “Cool”. About half the collection has this trait and is worth three or four points. In this article, we will answer some FAQs about Cool Cats NFTs.
1) When Did the Cool Cats NFT Collection Come Out and Where to Buy Cool Cats NFTs?
The collection was minted on July 1, 2021, at a cost of 0.02 ETH. This was equal to roughly $50 USD at the time. The NFT collection is available on OpenSea for purchase. As of September 2nd, the floor price of and entry into the Cool Cats NFT collection is around 2.3 ETH.
Even with markets down I'm still super hyped I was able to lock this #coolcatsnft down for the long haul. Only 1 of 2 bearded prince in the entire collection! What #NFT are you still hyped on? pic.twitter.com/zmpGlnHygt
— beardking.eth (@Cloud102Crypto) August 29, 2022
2) The Cost Is High – But Why Are the Cool Cats NFTs Expensive?
The Cool Cats NFT collection was launched just after the Bored Ape Yacht Club. So from a historical point of view, this is significant. Originally the NFTs were priced at 0.06 ETH but only a few hundred were sold. The team lowered the price and the collection sold out in about eight hours.
Shortly after the project began to explode across the NFT ecosystem. Mike Tyson of all people changed his Twitter profile picture to a Cool Cats NFT. Many more celebrities followed. This caused a ripple effect and crystallized the collection and its prominence.
3) Cool Cats NFT Ecosystem
The ecosystem of Cool Cats NFT has many moving parts:
- Cool Pets NFT: The team behind Cool Cats NFT wanted to do reward holders. They did so by offering a free Pet. In addition to this, the team also offered something for newcomers. This explains why the supply of Cool Pets is around 19,999 NFTs. 9,999 Cool Pets were allocated for Cool Cat NFT holders. The other remaining 10k went to the public. Minting for the Cool Pets NFT was on 1st February 20222. Cool Pets NFT is a gamified experience. They have a tokenized economy driven by $MILK. Owners of Cool Pets undertake quests to acquire $MILK for items that affect the final form of their NFT.
- Cool Cats Marketplace: known as the Cool Shop. The Cool Shop is an in-game market where you can sell items and purchase supplies using $MILK. This is where owners may easily monetize or expand their collections. The marketplace allows buyers to buy, sell, and trade items.
— Cool Cats (@coolcatsnft) August 30, 2022
4) $Milk Token Outlook
On the other hand, the Cool Cats gamified environment is more interactive thanks to the $MILK token. Owning a Cool Cat NFT allows you to automatically receive $MILK. This is the currency that powers Cooltopia’s economy and provides utility. Here are some uses cases for $MILK:
- Users have ways to earn and spend $MILK and the token can be used for activities all across Cooltopia. The activities are separated into two distinct parts. These are buying items from the Cool Shop and going on quests. Players can purchase a Chest from the Cool Shop. The Chest contents are unknown till opened but contain either pet supplies or items that help players progress through Cooltopia.
- The $MILK token is continually accumulating and can be redeemed at any time. The team behind Cool Cats has provided another way to earn $MILK. This is done by sending Cool Pets on quests. The amount of $MILK earned depends on the evolutionary stage of the Cool Pet.
Stay tuned for more details soon. 🙌🏽 pic.twitter.com/85PcNj9wS3
— Cool Cats (@coolcatsnft) August 30, 2022
5) Who Created the Cool Cats NFT Collection and How Did the Cool Cats NFT Start?
The Cool Cats team is passionate about crypto, art, and making cool stuff. There are four members of the core group. There is Tom Williamson, a blockchain and smart contract expert. The manager and web developer is Rob Mehew. The creative director is Evan Luza, or ELU. The illustrator is Colin Egan, also known as “The Catoonist.
Moreover, from a young age, Colin always drew cartoon characters. In high school, Colin likes to draw cats and it was a Blue Cat he drew. All cats within the Cool Cats NFT collection derive from this Blue Cat.
6) Cool Cats NFT Community and Roadmap
The Cool Cats NFT discord server is a buzzing place to be. There is a real sense of community and engagement. With constant new offerings for holders, Ask Me Anything sessions, private streams, quizzes, and council votes there is a lot going on.
Also, three of the latest drops have included a summary of discord announcements via emails, a free Cool Cats comic, and early access to a clothing line in collaboration with The Hundreds. Looking at the roadmap there is much more to come. A metaverse named Coolverse, presence at NFT NYC, and something called Paper Cats is on the cards.
Finally, the drop mechanics around Cool Pets and the gamified experience that the team created is a testament to their vision and commitment. No doubt they will continue moving forward pushing boundaries. Collaborations are plenty, the art is cute and relatable. Cats took the web2 world by storm and there is no doubt that this is the most recognized and original NFT cat collection.
However, speculators want to continue to scrutinize the collection. Perhaps they are waiting for the next big Cool Cats NFT announcement and as yet have not had one. Everyone loves a comeback story and is waiting on the collection to push further afield.
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