Okay Bears is quickly becoming one of the most popular NFT collections on Solana. Bull or a bear – here’s what you need to know about it.
Okay, Bears has quickly become amongst the most popular collections of non-fungible tokens based on Solana.
At the time of this writing in May 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.
Okay Bears is a collection of 10,000 non-fungible tokens released on the Solana blockchain back on April 26th at a price of 1.5 SOL each (worth $150 on the day of the mint).
In a convincingly attractive and enjoyable way, the project’s manifesto hints at the team’s true intentions behind the collection – namely, to create a relaxed and vibrant community where the focus is on progress, “good vibes,” and acceptance.
In a bid to release more than just a roadmap, the team has created the so-called blueprint for the Okay Bears community:
As seen in the above image, the Okay Bears ecosystem is made of a few different avenues, each one with its own intention. Let’s break it down.
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:
The workshop is where work gets done. The team says that it would keep on building the Okay Bears brand through many 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.
Holders will get priority access to future collections, 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 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.
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.
The Boutique is where holders can access crafted real-life merchandise, collectibles, swag, and prints. This is exclusive for the Okay Bears brand and its holders.
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.”
Staying true to the Web3 paradigm, the founders of Okay Bears are anonymous. According to the official website, the team consists of 12 people.
Kais and Suby are the project’s co-founders. They also have digital artists, illustrators, concept artists, full-stack developers, motion designers, game developers, a writer, and a software engineer working on Okay Bears.
While having an anonymous team was considered very risky a while back, NFT communities have learned to embrace that, and most of the popular projects had unknown founders. For example, BAYC’s team was completely anonymous well after the collection exploded in popularity and before they eventually got doxxed. Azuki’s team remains almost entirely anonymous as well.
Okay Bears, much like other popular NFT collections, present drawn characters consisting of multiple traits. Each trait is limited, thus creating the possibility for extremely rare combinations. The characters themselves are bears.
The traits are divided into the following categories:
Here’s what the top 6 rarest Okay Bears NFTs look like:
The number one rarest bear has a rarity of 0.0000000001562%.
Meanwhile, here’s are a few of the common ones:
The art seems relatable, and given that it’s main purpose is to serve as a profile picture (pfp), it’s easy to understand why the project received so much hype over the past weeks.
The project minted out on April 27th, 2022. The sale was over in an instant, and the mint price was set at 1.5 SOL.
Since then, both the popularity and the floor price of the collection have skyrocketed. At the time of this writing, the floor price sits at 250 SOL which presents an ROI of around 16,500% in less than a month.
Magic Eden and OpenSea are the two most popular marketplaces to buy Okay Bears NFTs. In any case, you will need to connect a Solana-based wallet, and the most popular choice by far is the Phantom Wallet.
The process of buying an NFT is fairly straightforward, but if you’re new, you can read our comprehensive guide on how to buy and sell your first NFT on OpenSea.
Once you have your wallet connected, you will need to find the official collection. To do so, just type in “Okay Bears” and navigate to the collection with the blue checkmark on it. From there, you just need to find an NFT that you like, hit the Buy button, and you’re done.
Georgi Georgiev is CryptoPotato’s editor-in-chief and a seasoned writer with over two years of experience writing about blockchain and cryptocurrencies. Georgi’s passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn’t looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn
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