TIME magazine and Cool Cats are coming together for a limited edition NFT drop! Cool Cats is an NFT project that debuted last month. The randomly generated cartoon cat avatars quickly surged in popularity, marking 45x gains in July.
The project is now collaborating with the iconic TIME magazine for NFTs as well as a meme competition. TIME has already ventured into the NFT space and sold three NFT covers in March this year.
TIME x Cool Cats NFT drop
“Wow, what a crazy TIME to be alive,” Cool Cats wrote in a blog. “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 project further noted that TIME president Keith Grossman “likes the cats so much” that he approached Cool Cats for a collaboration. Back in July, Grossman had tweeted, “I love these Cool Cats – they are in TIME’s DNA!”
The collection features the four founder Cool Cats and TIME front cover. It will include a total of 400 pieces. This means that a hundred each of Elu’s cat, Clons’ cat, Xtremetom’s cat, and Lynoid’s cat NFTs will be part of the drop. On each artwork, a Cool Cat can be seen reading a TIME magazine.
All about the Meme competition
As part of the upcoming NFT drop, Cool Cats and TIME are also holding a meme competition, which started on August 13. It will end at 12pm EST on August 20.
“We love seeing the community getting creative and we want to extend that creativity into this historic collaboration with a Cool Cats and TIME orientated meme competition!” Cool Cats wrote.
Anyone can enter the competition and there will be a total of eight winners. The winners will get a randomly selected NFT from the new collection. The remaining 392 NFTs will be put in a raffle and given to participants who own Cool Cats. While the first eight NFTs can go to anyone, the remaining pieces will only go to Cool Cat holders.
Participants can submit their entry to the Twitter competition thread, using the hashtag #CoolCatsTIME. Those who are Cool Cat holders should also include their NFT’s id in the tweet. All the entries should be centred around Cool Cats and TIME.
Furthermore, all entries must be family-oriented. The competition does not allow hate speeches, religious themes, fudding, and political themes. Moreover, the competition’s aim is to keep things “fun and creative”.
While the NFTs were meant to be dropped on Polygon, currently there are some security concerns surrounding Polygon. As a result, the Cool Cats team is still deciding whether to continue with Polygon or choose Ethereum.
Meanwhile, TIME is not the first magazine to hop on the NFT bandwagon. For example, Fortune Magazine’s first NFT sale this month had fetched over $1.3 Million. The collection included 256 identical NFTs of the magazine’s cover and three special edition NFTs.