Okay Bears - The Branding bet on Solana
An overview of the history of Okay Bears, and a look into the future.
At the time of writing, the Solana market cap is $9.09 billion with a 24-hour volume of $875 million. The price of SOL is $24.29 and its market dominance is 0.84%. The Total Crypto Market Cap is $1.08T, down 0.83%. The Solana NFT transaction volume surpassed 1,067,000 SOL, closing in on $26.6M in the last 7 days.
Summary
Introduction
The Brand
IMG Deal
OKAY.xyz
Project Analysis
Statistics
Conclusion
Introduction
The Okay Bears collection beat the expectations of its launch and conquered several remarkable achievements for Solana NFTs such as becoming the fastest collection to reach one million $SOL traded volume. Comprised of 10,000 clean-looking digital assets, the Solana-based NFT collection has carved a path of excellence in the NFT landscape.
As one of the most popular NFT collections in the Solana ecosystem, Okay Bears quickly gained notoriety, attracting attention from other major blockchain communities, such as Ethereum. It was arguably one of the best ambassadors for the Solana NFT ecosystem at a crucial time.
The simple, clean, family-friendly quality of its art, coupled with the teams’ strong communication and branding strategy, set the stage for a highly successful pre-mint phase, leading to a post-mint growth explosion. It was the fastest NFT collection to reach one million $SOL volume traded in the Secondary Market.
Okay Bears founders Kais and Suby have repeatedly shown a focus on creating a family-friendly, mass-appeal NFT collection that is accessible to a wide range of both Web2, and Web3 audiences.
While many NFT traders focus on short-term gains, the Okay Bears collection represents a long-term investment in the construction of a global brand, according to the team. Its past success and present success are a testament to the power of community, quality art, clear vision, and communication.
In today’s newsletter, we will look at Okay Bears’s history and future, as well as provide the most updated data and statistics on the project.
Statistics
Although the NFT floor price was once at over $10K (408 $SOL at current prices), Okay Bears continue to show resilience and growth over time.
With a total floor value of $10 million, the collection boasts a highly favorable holder distribution of 46%.
There are on average 10% to 12% of the Bears listed, higher than the average Top 10 project by Market Capitalisation.
The collection remains a top performer, consistently ranking among the top 10 Solana collections by daily volume. This can be attributed to its community, whose participation drives a total volume of 2.8 million $SOL.
IMG Deal
Okay Bears are the only NFT project on Solana partnered with IMG, one of the leading talent management agencies in the world. The deal opens up numerous possibilities for deals with other companies and brands, all over the world.
For reference, IMG has partnered with other global brands such as Fortnite, Angry Birds, and Lego.
OKAY.xyz
Although the information available to the public is very limited, Okay Bears have hinted at some of the utilities and meaning of their new experiment, OKAY.
OKAY is a bridge between Web2 and Web3, with the goal of onboarding traditional brands into NFTs and Crypto.
Holders will be rewarded with digital, physical, and co-branded “phygital” drops as well as access to exclusive mints from well-known brands. The team will share more about OKAY every two weeks, from now to April, with a reveal at NFT NYC.
Announcements are rolling out every two weeks between now and April, with a grand reveal at NFT NYC, according to the team.
Project Analysis
Founders Coins
The second collection is the Founders Coins, a total of 10,000 NFTs backed by real gold. Secondary Royalties earned on this collection are donated to Okay Cares, a charity initiative voted by the community.
BoomBox
Boombox is a collection with a similar approach to the Founders coins, however, it is much smaller in supply, with only 1001 NFTs.
Okay Cares
Okay Cares is a community-centric collection of 1/1 NFTs that are auctioned for charity. So far, the two auctions for Lonzo Ball Bear and Movember Bear generated 440 $SOL for charity.
Conclusion
The Okay Bears roadmap may be less attractive to short-term traders, and more attractive to longer-term investors looking to place bets on the major NFT Brands on Solana.
It is important to note that throughout almost a year of existence, the community has been there all the way.
Okay.xyz may be the catalyst to push the Okay Bears brand to the next level.