Volume for the NFT collection is up 93%
Cool Cats, one of the newest Ethereum-based NFT collections, is steadily gaining traction. In the past seven days, the collection saw an increase in volume of more than 93%, reaching upwards of $6 million.
While the number of traders and sales has dropped, the value of NFTs sold over the week managed to push the collection to fifth place in the overall ranking.
An important achievement for the cats is that the collection managed to surpass both NBA Top Shots and Sorare in the DappRadar Rankings. Despite major sports events like the Copa America, Euro 2020 and the NBA Finals, the sports-based NFT collections did not manage to attract enough volume to stay in the top five.
For the moment, established high-grossing collections like Axie Infinity and CryptoPunks still hold their positions. However, Cool Cats is exhibiting remarkable metrics and could have the potential to surpass some of the top performers. Of course, as a rather new collection, this might just be the effect of the initial spike in interest and FOMO. Yet, there have been some high-level endorsements for the collection, including that of Mike Tyson. Tyson recently changed his Twitter profile picture to a cat NFT.
What are Cool Cats?
Cool Cats NFTs rank in a point system with the most common worth three points and the rarest worth ten points. Each cat comes with a combination of unique characteristics regarding its body, hat, face, and outfit.
The first generation of cats consists of 9,999 randomly generated NFTs out of more than 300,000 possible combinations. Cool Cats have a lot of combinations with four different customizable characteristics. The NFT collection is based on the principle of CryptoPunks where different attributes determine the rarity of each NFT.
The project’s creators have ambitious plans for the future of the project. In the next drops, Cool Cats will be equipped with breeding capabilities. Not only that, future plans include custom NFT airdrops and staking opportunities. Of course, as Cool Cats is a relatively new project, these features are still in development.