Partnership brings together the internet’s favorite things: NFTs and cats
NFTs, or non-fungible tokens, are unique digital tokens that have taken the world by storm, shooting to popularity in the art world but soon spreading to industries such as music and film.
Recently, the publishing industry jumped on the bandwagon, with Time magazine entering into a partnership with Cool Cats, a collection of randomly generated NFTs on the Ethereum blockchain.
NFTs are not new for the magazine. In March, it auctioned three NFT covers on the cryptocurrency marketplace SuperRare, which sold for over $430,000.
As part of the new partnership, Cool Cats will provide 400 new NFT pieces. Cats have been in Time’s DNA, Keith Grossman, the company’s president, said on Twitter.
“Wow, what a crazy time to be alive,” Cool Cats said in a statement.
It added: “We are honored and privileged to announce a limited edition drop with one of the most iconic and well-respected companies out there, Time magazine.”
The new Cool Cats will feature cats reading the magazine.
The collaboration will feature a meme competition, with Cool Cats and Time picking the eight best memes. Winners will be guaranteed a randomly selected collaboration NFT from the four shown below.
“We love seeing the community getting creative and we want to extend that creativity into this historic collaboration with a Cool Cats and Time orientated meme competition,” Cool Cats said.
The remaining 392 pieces will be raffled off to Cool Cat holders who entered the competition.
Once each winner has been verified as a Cool Cats owner, they will receive a random NFT from the collection.
Published By : Arab News