- The Chinese NFT community is well-positioned as one of the early pioneers to hold large-scale events in the metaverse
- Innocent Cats is a widely hyped project promoted by western influencers like Tyga, Flur, and Andrew Wiggens
- The Chinese community has been aggressively tapping into the entertainment industry
(Reading time: 4 minutes)
Innocent Cats is an Ethereum-based NFT project launched straight after PhantaBear’s success, the project is rumored to be backed by Wilber Pan a well-renowned Taiwanese-born artist who is currently based in mainland China as the mastermind behind the scenes.
The project addresses a big issue with Ethereum; its massive gas fees. Innocent Cats NFT contracts use the ERC721A algorithm created by the renowned Azuki team as opposed to the more common ERC721 or ERC1155. ERC721A is essentially an advanced algorithm that enables the minting (creation) of several Non-Fungible Tokens in just one transaction, reducing the total amount of gas fees.
The Innocent Cats roadmap is already well-established drawing parallels to PhantaBear’s original strategy, which is to hold a metaverse concert featuring famous celebrities. Innocent Cats however is unique and has a specific genre in mind: Hip Hop/Rap.
The project aims to ‘develop and explore the metaverse’, with the capacity of 100,000 attendees (PAX) for its first blockchain music concert.
Disclaimer: Our content is intended to be used solely for informational and educational purposes, and not as investment advice. Always do your research and consider your personal circumstances before making investment decisions. ChineseAlpha is not liable for any losses that may arise from relying on information provided.