Cool Cats receives a strategic investment from Animoca Brands

Blue-chip NFT collection Cool Cats received a strategic investment from Animoca Brands. The project will use the funds to develop a Metaverse experience and accelerate the project’s global expansion. 

Animoca Brands is a Hong Kong-based gaming and Metaverse developer. The company works on the extension of digital property rights backed by NFTs and the development of an open Metaverse. Yat Siu, the Co-Founder and Executive Chairman of Animoca Brands, had this to say about the collaboration: 

“Our partnership will extend beyond games into all areas of the Open Metaverse by expanding the utility and increasing interoperability and culture we couldn’t be more excited to work together with the great Cool Cats team to help grow the space together!”

The Executive Chairman of Cool Cats Group, Ken Cron, who has been developing a longstanding relationship with Yet Siu, is also thrilled about the partnership, as he said that “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.”

The original Cool Cats collection, which features 9,999 profile-picture-styled NFTs, was first launched in July 2021. The project has been gaining volume after every significant announcement and reached a total of 113K ETH of the trading volume. 

It’s worth noting that after Animoca Brands’ announcement was released, the average price of the sales raised from 2.5 ETH to 3.6 ETH, with the number of sales going up from eight on October 5 to 52 on October 6. The current floor price of the Cool Cats collection is 3.29 ETH  (approximately $4.494 at the time of writing). 

Notably, this is not the companies’ first partnership—in June this year, Cool Cats announced the development of special pixelated 3D avatars for Animoca Brands’ subsidiary, The Sandbox Metaverse. In September, Cool Cats partnered with Animoca’s gaming subsidiary GAMEE to release a Hexa-based numbered tile game, “Cool Cats Combinations,” on the Arc8 gaming platform.