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Soon after its launch, Not Okay Bears took over the NFT space. In fact, the collection became the top collection on prominent NFT marketplaces OpenSea and LooksRare within hours. However, after millions of dollars in sales, OpenSea has delisted the knockoff of the Solana-based non-fungible token (NFT) collection, Okay Bears.
In brief, Not Okay Bears are a knockoff of Okay Bears on the Ethereum blockchain. In fact, it is quite similar to the left-facing Bored Apes or CryptoPunks. Describing it as “Bears on the blockchain that actually works,” the project had Solana and Ethereum supporters teasing each other.
Moreover, the OpenSea delisting has sparked outrage among holders who are now unable to trade on the largest NFT marketplace. In fact, Not Okay Bears holders are even more furious as other derivative collections continue to remain listed on OpenSea.
Meanwhile, the pseudonymous creators donated 20% of the minting funds, 35.8 ETH, to the Mental Health Impact Index. Subsequently, The Giving Block matched the 35.8 ETH donation through their #CaringWithCrypto campaign. All in all, Not Okay Bears brought in over 70 ETH (about $150,000) to support mental awareness.
Finally, unauthorized copies of larger projects are quite common on Ethereum. Currently, Not Okay Bears has a floor price of 0.034 ETH, with a 293 ETH trading volume on LooksRare. Also, before getting delisted on OpenSea, Not Okay Bears had a 24-hour secondary sales volume of $6.3 million.
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All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.
Bishal is a freelance writer and a digital nomad. He loves thinking, learning, and writing about all things crypto, particularly its impact on major industries. Stay tuned as he brings you more news from the fast-paced world of NFTs.
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