Carole Baskin, known from the Netflix series Tiger King, has launched a crypto currency. The proceeds are to flow into animal welfare projects.
The crypto market is one token richer. The sale of the “Big Cat Rescue Token” – CAT for short – started on May 4th. The project’s patron is Carole Baskin, who became famous for her not undisputed appearance in the Netflix series “Tiger King”. So the project is sure to be of media interest. Has Dogecoin found a worthy meme coin successor from the hands of the notorious animal rights activist?
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CAT Token: Everything, just no investment
Big Cat Rescue is a non-profit organization initiated by Baskin that is dedicated to protecting big cats. This also explains the primary benefit of CAT: the financing of animal welfare projects. The token is not intended as an investment, Baskin explains in one Blog post:
$ CAT is neither a currency nor an investment, but rather a purr-ency and the first of its kind as a fan token for supporters of Big Cat Rescue.
Purr-ency is a combination of “currency” and “purr”, which can best be translated as “purring currency”. The word creation already suggests: Anyone who has speculated on a Dogecoin alternative is more likely to get the cat in a poke with the CAT token.
At least if you expect returns from CAT. The coin definitely has an incentive for animal lovers. “Investors” receive a range of bonuses, including a Premium Clubhouse membership, discounts, exclusive access to new goods – including NFT – “and much more”. It remains to be seen whether this requires its own cryptocurrency. In terms of marketing, the project has done its homework.
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Social tokens instead of donation bags
CAT can therefore be classified in the “Social Token” category. The term, which is not quite selective, includes those cryptocurrencies that are not issued by companies, but usually by more or less famous public figures and that establish a kind of bonus system. Buyers receive certain preferential rights and exclusive offers.
One platform that forms the breeding ground for all kinds of social token curiosities is Rally, on which CAT is for sale. Crypto-entrepreneurs and those who want to become one can create “Creator Coins” there. Particularly active communities are rewarded via a reward system with rally tokens (RLY). Getting started with CAT can still “pay off” in an indirect way.
The token sale is also getting off to a good start. At the time of going to press, there are over 134,000 CAT tokens in circulation, priced at around $ 15 each.