Animoca Brands Invests in Cool Cats NFT Collection, Sparking Market Activity

Animoca Brands, a prominent player in crypto gaming and investments, has taken a financial stake in Cool Cats, the pastel-themed NFT collection that surged during the 2021 boom. The undisclosed investment grants Animoca and Coin Operated Group majority control of Cool Cats Group, integrating the project into Animoca's Mocaverse ecosystem—a Web3 identity and gaming initiative.

Market data shows a 400% spike in trading volume for Cool Cats NFTs following the announcement, with floor prices briefly rallying. Despite the uptick, the collection's $22 million market cap remains a fraction of its peak valuation. The partnership builds on prior collaborations between Animoca and Cool Cats in 2022.

"We share a vision for a future where Web3 fuels creativity and community," said Ken Cron, Cool Cats community member and CEO of Coin Operated Group. The MOVE signals Animoca's continued bet on NFT utility amid broader market stagnation.