The Creative Artists Agency (CAA) announced a collaboration with the successful Cool Cats NFT collection. The LA-based talent agency will now represent Cool Cats as the founders of the NFT project explore opportunities to build their brand.
There are no details on what the Cool Cats team is up to, 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, host live events and design branded items.
Evan Luza, the co-founder of Cool Cats, told reporters that the CAA deal will help the profile photo project “transcend” the NFT niche. Luza went on to say that NFTs were a “launch platform” to build the Cool Cats brand.
Unlike NFT collections such as the Bored Ape Yacht Club (BAYC), Cool Cats does not give NFT holders full IP rights. Instead, people who purchase a Cool Cat enjoy “non-exclusive rights” to use their avatars in merchandise or advertisements. However, Cool Cats may use the IP rights of its iconic characters in other media ventures.
It is becoming more and more common for Hollywood executives to partner with high-quality NFT collections. For example, United Talent Agency concluded a deal with CryptoPunks and Meebits in the summer of 2021. Madonna’s manager Guy Oseary also represents the BAYC and World of Women.
Cool Cats further strengthens its Blue-Chip status
The 9,999 blue-haired 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 have joined the club. Just a few big names that have bought the Cool Cats collection are:
- Mike Tyson
- Reese Witherspoon
- Steve Aokic
- Marc Benioff
Recently, sportswear brand Puma changed its Twitter profile picture 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 to have sold a single token for over $1 million. In October 2021, NFT collector Bornadoesntcare spent approximately $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 an interest in developing metaverse games and a cryptocurrency called MILK.
More recently, the Cool Cats collection saw a huge spike in demand after it was featured in BAYC founder Yuga Labs’ “Otherside” ad. Viewers were able to 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 the NFTs in the ad experienced a massive price increase. The reserve price for one Cool Cat NFT on OpenSea is currently close to 9.5 ETH (or about $30,000).