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The minimum price of a Cool Cat NFT is now $33k… and rising

The floor price of the Cool Cat NFT collection has increased by 30% to more than 10 Ethereum in the past week as buyers continue to flood into the burgeoning NFT space.

Cool Cats have long been a favourite in the NFT space due to their vibrant artwork and friendly, engaging Discord and Twitter communities, with many holders choosing to use their Cool Cat as a profile picture (PFP).

The collection is now the third generative PFP collection – a collection that typically has 10,000 unique NFTs – to reach the 10 ETH price floor milestone behind CryptoPunks and Bored Ape Yacht Club, which are considered to be the leading ‘blue-chip’ projects in the NFT space.

Cool Cats Developer ‘xtremetom’ celebrated the milestone on Twitter while other members of the Cool Cats team comedically celebrated with a commemorative “milk chug“.

Data from OpenSea shows that Cool Cats has reached almost 7k ETH in volume in the past seven days and has now overtaken Bored Ape Yacht Club (BAYC) in the weekly rankings.

Additional data from Coingecko also shows the growth of Cool Cats over the course of the past 30 days, with the floor price – the minimum an NFT can be bought for – increasing from 2.8 ETH on August 27 to the current floor price of 10.75 ETH ($33k).

A number of record sales have also been seen in the past week for the highly collectable TV Heads. The record purchase of a Cool Cat was made by crypto wallet provider and prominent NFT collector CoinUnited who bought one of nine incredibly scarce ‘hidden cats’ for 110 ETH.

Cool Cats have attracted a number of high-profile buyers – including Steve Aoki, who purchased a Bob Ross TV head cat, and Mike Tyson.

Leading NFT investor and “Cool Cats Maxi’ Farokh also owns a collection of 17 Cool Cats, including two TV Heads and his highly sought-after Afro Rainbow Unicorn cat, which he proudly wears as his PFP.

He also recently called Cool Cats “the Pokémon of Web3”, referring to their collectable nature and important role in onboarding and attracting new buyers to the Web3 and NFT spaces.

The upcoming introduction of NFT verification on Twitter also brings an added incentive to Cool Cat holders – access to the Cool Cats community through verifiable ownership and the opportunity to ‘flex’ their rare cats in a friendly, engaging environment.

The collection also continues to spawn derivatives including the 24px collection and Cool Cats Collabs – a set that teases an upcoming collaboration with TIME Magzine.

The president of TIME Magazine, Keith Grossman, has been a long-time supporter of Cool Cats and even wears a teaser PFP that features a group of Cool Cats on the front of the magazine.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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