According to CoinDesk, the animated cat brand Simon’s Cat is set to launch a memecoin in collaboration with Floki, BNB Chain, and DWF Labs. The token issuance is expected on August 8. A portion of the supply will be airdropped to FLOKI token holders, while another portion will be distributed to users who trade Simon's Cat with the Floki trading bot.

Simon's Cat memecoin is officially linked to the mainstream Simon's Cat brand and is the first major cat memecoin on the BNB Chain. The brand, which earned $5.8 billion in revenue last year, is backed by its intellectual property. The memecoin will be issued using Floki’s TokenFi launchpad, a platform that helps traditional internet brands tokenize into Web3 projects and allows users to launch any cryptocurrency without writing code.

Simon’s Cat is an animated series about a hungry house cat and its adventures, boasting over 20 million followers across YouTube, Facebook, and Instagram. The series mainly consists of videos and memes about the cat. The impending memecoin's supply will be airdropped to FLOKI token holders, and a separate portion will be distributed to users who trade Simon's Cat with the Floki trading bot, thereby accruing value for the FLOKI token.

Floki lead developer B highlighted the potential of the cat memecoin sector, noting its current market cap of $2.9 billion compared to the dog memecoin sector's $36 billion market cap. B emphasized that Simon's Cat will be the first major cat memecoin on the BNB Chain, distinguishing it from other major cat memecoins based on Solana and Ethereum blockchains. The main Simon's Cat brand is expected to promote the memecoin across its social media channels, including YouTube, Facebook, Twitter, and Instagram.