Cool Cats has partnered with Creative Artists Agency (CAA) in order to make the shift from solely NFTs to wider licensing and merchandising. This follows other blue-chip NFT projects such have Bored Ape Yacht Club, Cryptopunks and World of Women, who have made a similar move in recent times.
About the CAA Move
Currently, holders of Cool Cats hold a non-exclusive license to use their images for many commercial purposes, including creating merchandise. Although, the creators of Cool Cats still own the overall intellectual property and can also use the images.
Now, the Cool Cats project has signed a deal with CAA in order to explore any potential licensing and merchandising opportunities. This may, in the future, include things such as animated content and brand deals, among many others.
Cool Cats artist ‘Clon’ told The Hollywood Reporter that “The world we’re building is full of imagination and full of things to explore, it’s going to be more of an experience, rather than just a JPEG.”
This deal between Cool Cats and CAA is not dissimilar to the deal that Larva Labs, the creators of Cryptopunks and Meebits signed with United Talent Agency (UTA) last August in order to bring the NFTs to other entertainment mediums. Since the sale of Cryptopunks and Meebits to Yuga Labs, it is unconfirmed what will happen to this deal.
Alongside Cool Cats, CAA has also signed a deal with the anonymous NFT collector, 0xb1. Further, they have deals with A-list celebrities like Beyonce and Shakira.
About Cool Cats
Cool Cats is an NFT project, which now has blue-chip status, that was launched in July 2021. The first generation of NFTs consists of 9,999 Cool Cats, and they have since released more secondary collections under the Cool Cats name. At first, the project gained a lot of popularity in July, when former boxing superstar, Mike Tyson changed his Twitter profile picture to Cool Cats #2724. His page has over 5 million followers. At this time, the floor price was around 1-1.5 ETH.
Cool Cats have been praised hugely since their launch, and it is classed as many people’s favourite NFT collection. Currently, at the time of writing, the project’s floor price on OpenSea is 9.39 ETH, or $29,000.