Quick take:
- Cool Cats Group has received a strategic investment from Animoca Brands.
- The blue-chip NFT collection creator will use the funds to expand its NFT offerings.
- The company also wants to ramp up its gaming products.
Cool Cats Group has received a strategic investment from Animoca Brands. The web3 startup behind the blue-chip NFT collection Cool Cats will use the funds to expand its product offerings.
Like Yuga Labs’ Bored Ape yacht Club and Cryptopunks, Cool Cats is aiming to become the largest NFT brand in the world. The company also wants to accelerate the development of its web3 gaming projects, with new product offerings.
Commenting on the strategic investment, Ken Cron, Executive Chairman of Cool Cats Group said: Yat is one of web3’s foremost thought leaders and he has built one of the most important companies in the industry. 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 the leading web3 companies looking to drive the mainstream adoption of the open metaverse.
The strategic investment comes hot on the heels of Cool Cat’s strategic partnership with Animoca Brands subsidiary Gamee. The partnership was part of a strategy to bring more experiences to Cool Cats NFT holders, including access to exclusive NFT claims, raffles, and community giveaways.
Yat Siu, Animoca Brands Co-Founder and Executive Chairman commented: “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.”
Animoca Brands recently raised $110 million at a $5.9 billion valuation to accelerate its web3 strategy. The company seeks to back projects dedicated to onboarding the mainstream to web3 through gaming, NFTs and metaverse experiences.
Cool Cats Group CEO Stephen Teglas added: “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.”
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