Cool Cats Group has received a strategic investment from Animoca Brands. The web3 project behind the NFT Cool Cats collection will use the funds to expand its product offering.
We're so thrilled to announce our strategic partnership with @animocabrands! 🤝https://t.co/6K8Lq2r2py
— Cool Cats (@coolcats) October 5, 2022
Cool Cats and Animoca Brands
Like Yuga Labs’ Bored Ape yacht Club and Cryptopunks, Cool Cats aims 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, CEO of Cool Cats Group, said:
“Yat is one of the foremost thought leaders in web3 and 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 widespread adoption of the open metaverse.
The strategic investment comes on the heels of Cool Cat’s strategic partnership with Animoca Brands’ subsidiary Gamee.
The partnership was part of a strategy to offer more experiences to Cool Cats’ NFT holders, including access to exclusive NFT claims, sweepstakes and community giveaways.
Yat Siu, co-founder and executive chairman of Animoca Brands, commented:
“Ken is one of the most experienced gaming and media executives in the world, and it has been a pleasure to have him as an advisor to the 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 that we believe will unlock the next frontier of gaming couldn’t be stronger.”
Stephen Teglas, CEO of Cool Cats Group, added:
“We are thrilled to work more closely with Animoca Brands and leverage their deep gaming expertise to unlock new immersive experiences for the Cool Cats community.”
Animoca Brands recently raised $110 million at a valuation of $5.9 billion to accelerate its web3 strategy.
The company is looking to back projects dedicated to bringing the mainstream into web3 through gaming, NFT and metaverse experiences.
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