Okay Bears: A More-Than-Okay Milestone for Solana NFTs

Okay Bears has quickly become amongst the most popular collections of non-fungible tokens based on Solana.

At the time of this writing in July 2022, the collection has also become the most actively traded one on OpenSea, surpassing the likes of the Bored Ape Yacht Club, Azuki, CloneX, and others.

The following is a deep dive on Okay Bears and everything there is to know about the collection.

About Okay Bears

Okay Bears are algorithmically-generated NFTs that was released in April 2022 on the Solana blockchain. With a total of 10,000 bears initially priced at 1.5 SOL each, the collection has taken over the Solana NFT market with an alluring culture shift that focuses on good vibes.

The purchase price for the Solana PFP NFT(profile picture NFT) bears was equal to almost $150 in American currency at the time of minting. As of late July 2022, each of the bears was worth about 102 SOL, or $4,386. Two reasons why the Solana PFP NFT bears were so successful at the time of their release were the hype the creators built, and the innovative design of the project’s blueprint, which we’ll cover later in more detail.

Outstanding Features

The Bear Market

In a clever and perhaps somewhat coincidental wordplay (because we’re amid a crypto bear market in May 2022), the Bear Market represents “an ecosystem of web 3, web 2, and IRL (in-real-life) sales channels, exclusive for Okay Bears holders, built through robust partnerships with industry-leading brands.”

Some of these channels include:

• Magic Eden (a marketplace on Solana)
• Token-Gated eCommerce – access to exclusive merchandise through a Shopify integration for holders only.
• IRL Okay Bears Pop – this represents real-life activations by means of flash pop-up stores in cities throughout the world and at certain conferences.

Workshop

The workshop is where work gets done. The team says that it would keep on building the Okay Bears brand through any means, including community engagement and public awareness projects, while practicing corporate social responsibility.

To this point, there’s an ongoing acronym within the cryptocurrency space that means “we are all going to make it” – WAGMI. Okay Bears took another approach to it and created the WAGBO version, meaning “we are all going to be okay.”

Used as a kind of a slogan for the brand, WAGBO is quickly catching steam.

Studio

Holders will get priority access to future collections, and community lo-fi, as well as a place to connect with other holders while also seeing potential art drops and so forth.

Centered around objectives outside the realm of visual art, Okay Bears also put together a collection of lo-fi mixtapes made by its community and published on Spotify.

The Park

The Park is a digital space – a middle ground in the Okay Bears universe, where everyone from the community can get together. It consists of a Discord channel that has no OG roles in a bid to promote equality and the various social platforms of the brand.

Gallery

This one is pretty self-explanatory. The Gallery represents the collection of 10,000 non-fungible tokens that are at the core and forefront of Okay Bears.

Beyond that, the team also plans to feature a curated page of fan art while also doing real-life pop-up exhibitions.

Boutique

The Boutique is where holders can access crafted real-life merchandise, collectibles, swag, and prints. This is exclusive to the Okay Bears brand and its holders.

Platform

Okay Bears also plans on hosting events and conferences in a bid to connect industry participants, thought leaders, and holders. Moreover, they plan on launching an incubator that invests in community initiatives through “The Honeypot.”

Analytics

According to Open Sea, Just looking at the top-performing projects last 24h you can start seeing the trend that I’m about to talk about. We’ve got Okay Bears on the top1, an NFT collection that took Solana by storm.

Okay Bears trading volume since the last 30 days reached 95484.53 SOL, ranked 2nd after Primates project along with Avg Price of 112.20 SOL per NFT Okay Bears

As per the picture above. The trading Volume of Okay Bears project mainly comes from Market Place Magic Eden. Most recently, on July 18, 2022, with a trading volume of 2,822 SOL traded on Magic Eden.

Verdict

The Okay Bears NFT collection appears to be doing quite well—especially with NFT enthusiasts and potential investors. This collection has the potential to be a bestseller and prove that the Solana blockchain is just as good a home for NFTs as Ethereum.

Of course, the market will also love to see how its developers plan to bring several of their additional goals to fruition. From The Studio to The Park, there’s quite a lot to be excited about if you hold an Okay Bears NFT.

If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.

DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.

Issac

Coincu Ventures