The new cryptocurrency — which has officially launched as a “fan token” for her supporters and cat fans — takes a piece out of the Dogecoin playbook, which started as an internet meme and rose to value because of its popularity on the internet.
I'm purring like a bobcat rolling in catnip because we just launched $cat on https://t.co/pH2gCNtQGf Rocketing up to #35 out of 117 & thinking of ways to reward those who join our "pride" of big cat lovers! Learn more at https://t.co/FTxA8iVV0V pic.twitter.com/PxFiXJqA5k— CaroleBaskin (@carole_baskin) May 4, 2021
The fan-coin is represented by a “Big Cat Coin” logo that shows what appears to be a bobcat at the center. There are obvious comparisons here to Dogecoin, which uses a Shiba Inu dog as its mascot. The Dogecoin cryptocurrency — which became the fourth-biggest cryptocurrency in the world — has been rising in hype and value in recent weeks.
It’s really unclear what the $CAT fan token will do, though. Baskin’s Big Cat Rescue, the sanctuary for wild animals that Baskin owns, explained it has nothing to do with investments or spending, according to Benzinga.
- “$CAT is not a currency nor investment, but rather is a purr-ency and the first of its kind as a fan token for supporters of Big Cat Rescue,” Baskin’s Big Cat Rescue said in a statement.
According to CNN, Big Cat Rescue plans to sell nonfungible tokens — or NFTS, like NBA Top Shots — and has “future plans include a big cat metaverse for virtual visits with the cats.”