he most recent NFT project to tackle this hurdle is Tron Cool Cats. It is a copycat of the Cool Cats NFT project on the Ethereum blockchain.
Tron is one of the many public blockchains providing a faster and cheaper transaction experience. Following its venture into DeFi, it now appears NFTs are coming to this ecosystem. The Tron Cool Cats venture brings 10,000 unique randomly generated cats to the Tron community.
Cat NFTs Remain Popular
The NFT industry has seen an influx of new projects over the past few months. Profile picture projects, or PFPs, tend to gain a lot more momentum than others. People enjoy the concept of advertising their favorite project by changing their avatars on social media platforms. Interestingly, most of these projects are animal-themed, with cats taking up a prominent space in the industry.
Projects like MoonCatRescue, CryptoKitties, and 24px all focus on bringing tokenized digital cats to the masses. While projects note different degrees of success, they all remain prevalent for the overall monthly trading volume. It is only standard that cat-themed NFTs make their way to other blockchains over time, including Tron.
Whether NFTs can be successful on the Tron blockchain remains to be seen. It doesn’t have the first-mover advantage, although it can prove beneficial for lower minting prices and overall better transaction fees. As more projects come to this ecosystem, collectors will make their way to Tron. Tron Cool Cats is just one example of establishing the Tron ecosystem better among non-fungible token enthusiasts.
Tron Cool Cats Have Arrived
The most recent NFT project to tackle this hurdle is Tron Cool Cats. It is a copycat of the Cool Cats NFT project on the Ethereum blockchain. That version of Ethereum became popular quickly and is still considered one of the top collectibles collections of 2021. Its current price floor is substantially higher than the minting price, confirming the interest in this project
Similar to the Ethereum version, Tron Cool Cats are randomized and unique. There are multiple expressions, outfits, accessories, and other traits to explore. The Tron-based version has the same supply of 10,000, although the minting price is very different. Collectors and speculators can mind a Tron Cool Cat for 1,500 TRX, or $135 at current prices.
Ethereum continues to dominate the NFT industry despite high fees. That seems strange, as high fees don’t benefit collectors, artists, or marketplaces. However, it seems most people will flock to Ethereum for these purposes. If Tron can provide a competitive solution, that narrative may change. The blockchain has seen multiple projects so far, including Tpunks, TronMeebits, and Bored Ape Yacht Club Tron.
What is remarkable is how all of these projects are derivatives of original projects proven to be successful on Ethereum. For the Tron-based Apes, the minting price of 1,000 TRX has yielded a 10x increase in value. Even Tron founder Justin Sun is looking into NFTs. He purchased a Tpunk NFT for $10.5 million to bring a bigger spotlight to Tron’s capabilities in this emerging digital art space.
Seeing existing NFT projects being copied onto other blockchains will undoubtedly rub some people the wrong way. However, no one can deny that, in its current shape, Ethereum is often too expensive to use for NFTs, either as a minter, collector, or flipper. More efficient alternative solutions will emerge over time and provide traders and speculators with the tools they need.
Moreover, the Tron Cool Cats project aims to give back to those who adopt dozens of NFTs. The most cat-loving representatives will earn 10% of the raised value for holding more than 30 or over 150 NFTs of this collection. It is an incentive to give back to the community, although one that will primarily benefit those with big pockets. Even so, the NFT project can prove successful, assuming an active community and ecosystem is surrounding the Tron Cool Cats.
Founder and editor at BTC PEERS. Andrey writes about financial experiments, DeFi, cryptocurrency, and blockchain.