Generative NFTs, Investing

The Mind-Blowing Math of the Cool Cats / Cool Pets NFT Drop

Hint: It’s a LOT of money, any way you look at it! And that’s a GREAT thing for the franchise.

First of all, I’m a huge fan of the Cool Cats, even if they’ve always lingered slightly beyond my budget. As a web3 coder, I’ve long read their dev’s Medium articles, and have passed them to other devs for inspiration and ideas. As such, I’m fascinated by this Cool Pets drop, and I’d particularly like to have a look at the financial side of things here.

Now, as you probably know if you’re in the NFT space, the Cool Cats are considered a blue-chip resident of the generative NFT rankings. As of this writing, they stand with an 11.42 ETH floor, which puts a minimum valuation on the franchise (solely in terms of minimum price * # of NFTs) at $334 million. (Surely it’s much, much higher, though, as that only uses the floor price and does not consider (a) the fact that almost all of the NFTs are valued above the floor, (b) the strong secondary market, with 82,100 ETH traded to date, and of course (c) the value of the brand itself.)

So, Cool Cats is, and was, a massive enterprise already. I’m sure you’ve seen them, but here’s a Cool Cat, for reference: