Cool Cats Creator Forced Out After Animoca Brands Acquires Majority Stake, Sparking Community Backlash

One of the most recognizable NFT brands in Web3 is entering a new chapter—but not without controversy. Animoca Brands and Coin Operated Group have acquired a majority stake in Cool Cats, giving the new ownership group control over the project’s future direction. As part of the transition, Colin Egan, better known throughout the NFT community as “Clon,” revealed that he has been forced out of the company after spending more than 13 years creating and developing the Blue Cat character that became the foundation of the Cool Cats brand.

The announcement immediately ignited widespread discussion across X, with collectors, artists, and longtime supporters questioning what the removal of the project’s original creator means for one of Web3’s most recognizable intellectual properties. Many community members argued that while ownership of the company may have changed, the creative identity of Cool Cats has always been inseparable from the artist who first brought the character to life.

The Artist Behind Cool Cats Leaves the Project

In a statement shared on X, Clon confirmed that he is no longer part of Cool Cats following the acquisition by Animoca Brands and Coin Operated Group.

According to the artist, the board’s new direction left no place for him within the organization despite spending more than a decade illustrating and evolving the Blue Cat character long before Cool Cats became one of the NFT market’s flagship collections.

His departure marks the end of an era for a project that helped define the profile-picture (PFP) NFT movement during the 2021 bull market.

Community Compares the Move to Disney Removing Walt Disney

Reaction from the NFT community was swift.

Many collectors expressed disbelief that the creator responsible for Cool Cats’ visual identity would no longer be involved in its future. Some users compared the situation to The Walt Disney Company removing Walt Disney from the company he founded, arguing that the brand’s artistic soul cannot easily be separated from its original creator.

Others questioned whether future artwork and storytelling could maintain the same authenticity without Clon’s direct involvement.

Across social media, supporters overwhelmingly described Clon’s artwork, personality, and community engagement as the qualities that transformed Cool Cats from a simple NFT collection into a beloved Web3 brand.

Animoca Brands Plans a New Direction

Following the acquisition, Animoca Brands is expected to integrate Cool Cats more closely into its expanding digital ecosystem.

The company has outlined plans to connect the project with its broader Mocaverse network while leveraging partnerships across gaming, entertainment, digital identity, and intellectual property licensing.

Animoca has become one of the largest investors in Web3, backing hundreds of blockchain companies and NFT projects worldwide. Supporters believe its resources could significantly expand Cool Cats’ global reach, while critics worry that increased corporate oversight may come at the expense of the project’s original creative vision.

A Familiar Challenge for NFT Projects

The controversy reflects a broader issue emerging across the NFT industry.

As successful collections mature into larger businesses, many projects transition from founder-led creative studios into professionally managed intellectual property companies. Venture capital investment, acquisitions, licensing agreements, and corporate governance often introduce new priorities that can differ from the artistic motivations that originally attracted collectors.

While these changes may create new commercial opportunities, they also raise difficult questions about ownership, creative control, and preserving a community’s culture.

Collectors Worry About Losing the Brand’s Identity

For many longtime holders, the concern extends beyond leadership changes.

Collectors often purchase NFTs not only because of financial potential but because they connect with the artist, the story, and the community surrounding a project. When the original creator departs, supporters frequently question whether the collection can maintain the authenticity that originally gave it value.

Several community members noted that Clon’s distinctive artistic style became synonymous with the Cool Cats brand, making his departure feel less like a management change and more like a complete shift in the project’s identity.

Whether the broader community embraces Animoca’s vision may ultimately depend on how successfully the company balances commercial expansion with preserving the creative culture that made Cool Cats successful in the first place.