Following fast on the successes of Ape and Punk NFT collections, Okay Bears have become a viral sensation since breaking into the NFT space in April. The NFT collection has so far grossed over 1.4 million in SOL trades. Additionally, its floor price shot up to 254 SOL after making a modest rise from 1.5 SOL mint price.
In this piece, we’ll consider this collection and what makes it so popular.
About Okay Bears
Animal-themed NFTs have become especially popular in the crypto market. The Okay Bears collection has become the latest to impress investors.
Launched in April 2022, the Okay Bears collection is a set of 10,000 algorithmically-generated tokens built on the Solana blockchain. The collection appears to have taken a bit of an inspiration from the wildly popular Bored Ape Yacht Club (BAYC) NFT collection, incorporating bears and giving them different items to keep them distinct.
Okay Bears was built by a team of mostly anonymous developers who sought to create a community on the Solana blockchain. Amongst other things, they hoped that this collection would serve as a common denominator for many team members – and essentially become a springboard for more projects.
After launching at a mint price of 1.5 SOL (about $150 at the time), the collection sold out almost immediately. The collection has since grown in popularity, and it is now available on several secondary NFT marketplaces at much higher prices.
How Many Are Available for Purchase?
As explained earlier, the collection started out with 10,000 tokens.
Every token in the Okay Bears collection is quite similar. It features a portrait of a bear, along with several additions to accentuate the picture. Most of these additions are descriptions of modern-day fashion, with several bears having items like glass, scarves, and beanies.
With these, the Okay Bears collection is a great representation of 21st century contemporary fashion.
Perks of Owning an Okay Bears NFT
The Okay Bears NFT collection offers several benefits to holders.
The first benefit is access to exclusive merchandise. Okay Bears offer easy access to merch for holders. This access allows them to get branded items—either for free or at discounted prices.
Another benefit is The Studio—an initiative that will allow community members with these NFTs to create “Lo-Fi” albums and publish them on streaming channels. “Lo-Fi” music has been considered one of the most authentic and soulful music genres, and holding an Okay Bears NFT allows you the opportunity to get your music career going.
Additionally, Okay Bears producers are developing The Park, a virtual world. Their goal is to create a virtual world filled with the Okay Bears NFTs, with the possibility of holders also forming relationships that last in the real world.
Where to Buy Okay Bears
The Okay Bears NFTs are available on secondary markets. Such as OpenSea and Magic Eden The collection’s data page on OpenSea shows that over 5,000 of these NFTs have been sold, with the tokens having a floor price of 249 SOL.
At the same time, over 1.4 million SOL worth of tokens have already been sold. These are definitely not paltry numbers.
To purchase the NFTs on OpenSea, follow these steps:
- Go to the collection’s OpenSea page and select your desired NFT.
- Click on the “Buy Now” button.
- Connect your wallet to OpenSea. The platform accepts different wallets, including MetaMask, Coinbase Wallet, and more.
- Once you connect your wallet, transfer the asking price in SOL to complete your purchase. Note that OpenSea will charge gas fees for your transaction.
- You should receive your NFT in your wallet immediately.
Conclusion: What’s the Next Step?
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.