Cat-themed NFTs seem to be trending, even in an ongoing bear market. The first notable example of this was the Cool Cats NFT collection, which saw its value soar 14% following a strategic investment from Animoca Brands. Now, another feline NFT collection, Angry Cat , is enjoying unexpectedly positive numbers against the tide of these volatile market conditions.
The founder of Angry Cat NFT is a well-known Chinese entrepreneur who founded the W+ Startup community, providing young people with opportunities and tools to realize their ideas. Through his strong social influence, Chris Defi seeks to accelerate crypto adoption by providing young entrepreneurs with job opportunities in the sector.
Angry cat @angrycat_nft is a cultural identity. A clean collection of 10,000 different cats to build an interesting brand and cat-city. pic.twitter.com/BYO8jnZmfs— NFT Hunter (@NFTs_Hunt) October 10, 2022
Angry Cat NFTs Are Smashing It on Coinbase
According to the beta version of Coinbase NFT, the 24-hour trading volume of the Angry Cat NFT collection has surged 334%, raking in 110 Ethereum (ETH). The vexed kittens even surpassed popular NFT projects like QQL Mint Pass, YOLO Bunny, Moonbirds, Pudgy Penguins, Azuki, and The Chimpsons. However, the rallying collection still trails Yuga Labs’ top hits—Otherdeed for Otherside and Bored Ape Yacht Club (BAYC), which have 24-hour trading volumes of 139 & 245 Ethereum (ETH) respectively.
The Angry Cat NFT collection has particularly made a name for itself on the largest of NFT exchanges, OpenSea. Meowna Lisa sold for 0.20 of Ethereum (ETH) on the secondary market, while the cheapest regular piece from the Angry Cat NFT collection is listed for 0.292 Ethereum (ETH), which converts to approximately $373,2735 USD at current exchance rates.
China Loves The Angry Cats
Interestingly, the Angry Cat collection has especially found its place among the Chinese audience, where cats feature prominently in pop culture. It is no secret that combining cats with the internet is a recipe for success, however, with that comes extra competition for NFT artists, who may struggle to become noticed if their cat-themed NFT project lacks certain unique qualities. Moreover, it appears that the younger generations in China & Japan strongly relate to the emotions portrayed in the Angry Cat NFTs, leading to the project receiving a substantial amount of attention on social media in those regions.
我的生气猫猫cos吧，不说一模一样，简直毫无关联哈哈哈@angrycat_nft @skipperfund#angrycat #NFTCommuntiy pic.twitter.com/ecrr4njzEV— Vvicky绵绵🍑 (@Vicky9999991) October 11, 2022
On the Flipside
- The trade volume of the NFT market has plummeted an eye-watering 97% from its 2022 pinnacle.
Why You Should Care
The creation and publication of socially relatable, high-quality NFT projects could serve to significantly increase the speed of crypto adoption around the globe.
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