A fast-rising NFT project announced a collaboration with one of the most well-known magazines of all time in a move that could bring continued validation to the non-fungible tokens space.
What Happened: Cool Cats, an NFT project of 9,999 blue cats that launched earlier in 2021, is collaborating with TIME magazine.
“Wow, what a crazy TIME to be alive. We are honored and privileged to announce a limited edition drop with one of the most iconic and well-respected companies out there, TIME magazine!” the Cool Cats team said in a blog post.
The partnership comes with the help of TIME magazine President Keith Grossman vocally supporting the Cool Cats and other NFTs. Grossman said cats were in the DNA of TIME and he wanted to collaborate.
“This community exudes positivity and optimism,” Grossman tweeted. “Cool Cats are family friendly and connect cross-generationally, which is important when you have TIME For Kids.”
TIME is owned by Marc Benioff, the founder and CEO of Salesforce.com Inc CRM.
Meme Contest, New Cool Cats: As part of the collaboration, a contest is launched where users can submit memes that highlight the partnership. The memes have to be family friendly, and feature no political or religious views.
Memes will be voted on by the Cool Cats team with the eight best getting a new Cool Cat.
A total of 400 new collaboration Cool Cats will be released featuring the four founder cats. One hundred of each of the Elu, Clon, Xtremetom and Lynoid cats will be released.
Eight will go to the meme contest winners and 392 will be raffled off to Cool Cat holders who entered the contest.
Anyone can enter the meme contest but you will have to own a Cool Cat for a chance at the other 392 new Cats. Users are asked to share their Cool Cat ID in the form of CC1234 in their meme posts. Use the hashtag #coolcatsTIME for the posts.
The meme contest runs from August 13 through August 20.
Rising Demand, Valuation: Cool Cats launched earlier this year with a mint price of 0.02 Ethereum ETH/USD each.
Cool Cats has over 17,000 followers on Twitter Inc TWTR and over 8,700 members in its Discord.
The floor price, or cheapest listing, for Cool Cats is 1.6 ETH at the time of writing, a large return from the mint price. Over 3,700 people own a Cool Cat.
Cool Cats rank fourth in 24-hour transaction value of $3.1 million on CryptoSlam. Cool Cats have had trading volume of $7.3 million in the last seven days, ranking ninth on the list. Over the last 30 days, Cool Cats rank 12th with $18.4 million in volume, up 103% from the previous 30 days.
Cool Cats plans on additional generations launched in the future along with a breeding element. The company recently launched a merch store for Cool Cat holders.
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