The Creative Artists Agency (CAA) announced a partnership with the successful Cool Cats NFT collection. The LA-based talent agency will now represent Cool Cats as the NFT project’s founders explore opportunities to build their brand.
There are no specifics on what the Cool Cats team has planned, but initial reports suggest it wants to use the Cool Cats in film, TV, or print media. The new CAA deal could also help Cool Cats connect with big stars or companies, organize live events, and design branded merchandise.
Cool Cats’ co-founder Evan Luza told reporters the CAA deal will help the profile pic project “transcend” the NFT “niche.” Luza went on to say that NFTs were a “launching platform” to build the Cool Cats brand.
Unlike NFT collections like the Bored Ape Yacht Club (BAYC), Cool Cats doesn’t give NFT holders full IP rights. Instead, people who buy a Cool Cat enjoy “non-exclusive rights” to use their avatars in merchandise or advertising. However, Cool Cats can use the IP rights of its iconic characters in other media ventures.
It’s becoming more commonplace for Hollywood managers to partner with top-tier NFT collections. For instance, the United Talent Agency struck a deal with CryptoPunks and Meebits in the summer of 2021. Also, Madonna’s manager Guy Oseary represents the BAYC and World of Women.
Cool Cats Further Cements its Blue-Chip Status
The 9,999 blue fur Cool Cats have become synonymous with “blue-chip NFTs.” Since Cool Cats launched in mid-2021, they have attracted serious star power as more celebrities joined the club. Just a few big names that have bought into the Cool Cats collection include:
- Mike Tyson
- Reese Witherspoon
- Steve Aoki
- Marc Benioff
Recently, the sports apparel brand Puma changed its Twitter profile pic to Cool Cat #32. Cool Cats has also worked closely with TIME Magazine to launch an exclusive collection of NFTs.
The Cool Cats is one of the few elite NFT collections that has sold one token for over $1 million. In October of 2021, NFT collector Bornadoesntcare spent roughly $1.1 million on Cool Cat #1490. According to Rarity Sniper’s analysis, this zombie-themed Cool Cat is one of the rarest in the Cool Cats collection.
To capitalize on its growing popularity, the Cool Cats team is working on its “Cooltopia” metaverse and Cool Pets NFT collection. Cool Cats has also expressed interest in developing metaverse games and a cryptocurrency called MILK.
More recently, the Cool Cats collection saw a massive spike in demand after it was featured in BAYC founder Yuga Labs’ “Otherside” ad. Viewers could see a 3D Cool Cat avatar alongside other prominent NFTs at the end of this 1.5-minute clip.
After Yuga Labs launched its “Otherside” trailer, all of the NFTs featured in the ad experienced a massive price surge. The floor price for one Cool Cat NFT on OpenSea is currently almost 9.5 ETH (or about $30,000).