Cool Cats NFT collection’s creator, received a strategic investment from venture capital company Animoca Brands, which it will use to expand its product offerings.
Cool Cats Group, the Web3 project behind the blue-chip NFT collection of the same name, announced on Wednesday that it had received a strategic investment from venture capital company Animoca Brands. The funds will go towards expanding Cool Cats’ NFT offerings and gaming products.
Animoca Brands is the perfect partner in accelerating it’s global expansion since the company has built a reputation for advancing digital property rights for gaming and the open Metaverse. The partnership will push their mission to become the most prominent global NFT brand and a rich media and content company.
Cool Cats and Animoca’s Partnership
Cool Cats’ mission to become the largest NFT brand globally may seem like a far-fetched idea, considering there are other established brands like Yuga Labs’ Bored Ape Yacht Club and CryptoPunks. Still, with a huge company like Animoca Brands backing up its endeavors, realizing that mission and accelerating the development of its Web3 gaming projects and new product offerings is attainable.
The strategic partnership between Cool Cats and Animoca Brands is the culmination of a long-lasting relationship between Ken Cron, Cool Cats Group’s Executive Chairman, and Yat Siu, Animoca Brands’ Co-Founder and Executive Chairman.
“Yat is one of web3’s foremost thought leaders, and he has built one of the most important companies in the industry,” said Cron. “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.”
Animoca Brands is one of Web3’s leading companies with a mission of its own—driving the mainstream adoption of the open Metaverse.
The strategic investment follows a September 1 announcement from Cool Cats that it was collaborating with GAMEE, an Animoca Brands subsidiary. GAMEE is known to have built a virtual casual gamine space that brings players, brands, and game creators together. Cool Cats’ collaboration with GAMEE is meant to offer more experiences to holders of the NFT, such as access to exclusive NFT claims, raffles, and community giveaways.
“Cool Cats is a leading example of Metaverse native IP based on the principle of decentralized ownership,” said Siu. “Ken is one of the most experienced gaming and media executives in the world, and it has been my pleasure to have him as an advisor to Animoca Brands’ Board of Directors for the past two years. Our belief in what the Cool Cats team has built, along with our commitment to the NFT space—which we believe will unlock the next frontier of gaming—could not be stronger.”
Just recently, Animoca Brands closed a strategic funding round of $110 million. The pooled funds were from a consortium of new investors, bringing the company’s valuation to $5.9 billion. The company plans to use the raised funds to accelerate its Web3 strategy by supporting projects focused on onboarding the mainstream to Web3 through NFTs, Metaverse experiences, and gaming.
The company has been consistent at work in delivering legitimate digital ownership of users’ virtual assets and advancing the open Metaverse, particularly with a focus on GameFi opportunities, like play-and-earn. Its partnership with Cool Cats will help both companies bring unique and captivating gaming experiences to their respective communities and the broader gaming community.
“We’re thrilled to work more closely with Animoca Brands and tap into their deep gaming expertise to open up new immersive experiences for the Cool Cats community,” said Cool Cats Group’s CEO, Stephen Teglas. “Many within our community already enjoy Animoca Brands’ properties, and we can’t wait for Cool Cats holders to realize the value of our deepened relationship with Animoca Brands. We look forward to sharing announcements over the coming weeks and months as we roll out our partnership.”
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