Angry Cats NFT Collection: Should You Buy?

The Angry Cats NFT collection is one of the most popular around. The NFT collection comprises a set of 10,000 different cats that represent a cultural identity. The NFTs were launched on Ethereum (ETH) in September 2022 and are part of the profile picture (PFP) category.

We analysed purchase records of the NFTs and determined that its total trading volume and the number of sales have been exceptional lately.

What is an Angry Cat?

An Angry Cat understands the basic emotion of anger that every human has likely experienced in their lifetime. Angry Cats not only understand this emotion but identify with it and accompany their human companions on their respective journeys, helping them conquer their anger and realise the fruits of their struggle.

Your Angry Cat will stick with you through thick or thin. It will help you fight this emotion and cross all the hurdles life places on your path to success. As the website mentions, "Together with the fighters, we break the rules, meow or never"! Quite catchy.

Built on ERC-721W technology, the implementation complies with IERC721 technology. Bluechip NFT holders will thus receive signature-free whitelisted secure mint solutions in the case of a new launch. Another interesting feature is Build Home, which we will explore later.

First, let us understand the basics of the NFT collection.

Angry Cat basics and analytics

As mentioned earlier, there are 10,000 Angry Cats NFTs. According to OpenSea statistics, the total trading volume at the time of writing is 1,722 ETH, with a floor price of 0.0648 ETH. Currently, 245 NFTs are listed on OpenSea, or around 2% of the total supply, with 17% unique owners of the circulating collection.

The creators of the NFTs receive 7.5% of earnings. To purchase an Angry Cat, hover your mouse icon over the PFP art of your fancy, and click on Add to Cart. Click on the cart icon and complete the purchase. You can complete the payment via crypto or credit/debit card.

Once the payment is complete, you can send the NFT to any Ethereum-compatible wallet. MetaMask is one of the best options available for the same.

When purchasing an NFT, it is important to analyse the short and long-term potential of the collection as a whole and to identify the NFTs with special features that may make them more valuable than others in the future. Angry Cats, for example, has a vibrant community on Discord and more than 60k followers on Twitter!

Source: Twitter (@angrycat_nft)

Talking of Twitter, the collection's recent partnership announcement with Conflux Network made waves. It was one of the Twitter handle's most-viewed tweets of all time. You should gauge the potential of such partnerships, for example, when making an investment decision.

This partnership announcement was one of the primary reasons why the total trading volume of the NFT collection rose nearly 500% between 13 February and 13 March, 2023 (the partnership was announced on 23 February). Total sales increased by over 700% in the same period!

Currently, E16A30 holds the most Angry Cats, with 299 NFTs to this name, or in other words, 2.99% of the total supply. Four other collectors hold three-digit figures from the digital art collection. Another feature of interest is the collection’s Build Home facility. What is it exactly?

Angry Cats: Build Home feature

The Meow Castle program (as the Build Home feature is called) launched on 10 December, 2022. To access the feature, you must first connect the wallet in which your NFT is present. You can now stake your digital collectible to receive staking rewards in the form of W, an ERC-1155 token.

The staking velocity steadily increases with the number of days you stake your NFT for. For one to three days, for example, you will receive 0.02 W per day. This number increases to 0.1 W per day if you stake for 19 days or more.

Rare elements will receive a bonus of up to 18% per day. Bonus traits include Copper Badge, Gold Badge, Patch, Paint, Panda, Cold Machina, Royal Machina, Rainbow Coral, Topless, and a couple of Eye features. The deflation rate of W is 10% every couple of months.

The token can be traded on secondary markets such as OpenSea. Additionally, W holders receive perks such as Angry Cats-related addresses and domains in the future, the opportunity to participate in derivative projects, free use of the paid features of projects it is in a partnership with, etc.

It should be noted that W holders will receive an additional staking income of 30-50%, based on the royalty of other projects obtained through Angry Cats’ investment banking business model (exit, market making, issuance). As always, you must DYOR and ask all the right questions before making an investment decision.

While an Angry Cats NFT is relatively cheap at the moment, you must ask yourself whether it is worth purchasing one or more.