Cool Cats Claws at Mainstream Strategy, Rebrands to Expand Audience Beyond Web3
The popular NFT collection wants to make its brand mainstream through storytelling, entertainment and partnerships surrounding its beloved Blue Cat character.
Popular non-fungible token (NFT) collection Cool Cats is undergoing a rebrand with the effort of expanding the collection’s reach beyond Web3 and into mainstream audiences.
In a town hall meeting with community members Wednesday, the founders of the collection laid out their plans for becoming a global brand and utilizing the intellectual property (IP) of the collection to tap into new types of content. With its Blue Cat character as the center of the collection, users will be able to experience its metaverse Cooltopia in new ways that expand beyond its dedicated collector audience.
“This rebrand ultimately signifies a new strategic direction for Cool Cats, one that is focused [on] on-boarding the next wave of members into the Cool Cats community and scaling our brand presence both within and beyond Web3,” Colin Egan, co-founder of Cool Cats told CoinDesk.
Cool Cats is implementing a series of partnerships to broaden their audience such as deploying a float in the famous Macy’s Thanksgiving Day Parade. It’s also teaming up with crypto wallet provider Ledger to create Web3 content via its education platform Ledger Quest, and has additional activations planned involving holograms and gaming.
Additionally, Cool Cats is rolling out a new series of features to enhance engagement among token holders. Some of these include a “Cool Score,” to incentivize collectors to interact with the community and “fracture” NFTs that allow users to partake in storytelling through digital collectibles.
“Whether you're using our PFPs or you're attending one of our events, or you're wearing merch, that is the emotional feeling that we want to enable for everyone in our community,” Jaclyn Woo, director of marketing and strategy at Cool Cats, told CoinDesk. “It's an acknowledgement to our community and our Web3 roots, our communities, the core reason why we're here today, and as we grow and we evolve, we want to continue crafting stories and building products.”
In March 2022, Cool Cats signed with big-three Hollywood talent group Creative Artists Agency to begin to expand beyond NFTs. According to data from secondary marketplace OpenSea, the collection currently trades at a floor price of 2.3 ETH, or about $3,770 with a 117,056 ETH trading volume, or about $191,972,00.
Its derivative collection Cool Pets, which allows users to mint and evolve fictional characters to experience Cooltopia, has a 0.12 ETH floor price, about $190, and trading volume of 30,640 ETH, or about $50,251,240.
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