Home » Solana: Okay Bears’ NFTs generate $18 million in 24 hours

Solana: Okay Bears’ NFTs generate $18 million in 24 hours

by Tim

The Solana blockchain has made a remarkable entry in the ranking of the biggest NFT sales volumes in recent days. And for good reason, the new project of the “Okay Bears” launched on April 26 has climbed to the 1st place of the podium with more than 18 million dollars of sales volume on the day.

Okay Bears tops the charts

This is a rare occurrence: non-fungible token projects (NFTs) deployed on the Ethereum blockchain (ETH) have left the top spot to a new project created on another blockchain.

The project is called “Okay Bears”, a profile picture (PFP) NFT representing bears with a multitude of random attributes and mined at 10,000 copies. Launched at a price of 1.5 SOL ($145), all 10,000 copies of Okay Bears were sold on Magic Eden, one of the platforms selling NFTs on the Solana (SOL) blockchain.

The secondary market quickly caught fire, driving up the price of the bears and generating no less than $18.4 million in sales volume on the day of April 26. This new collection was for a time ahead of such titans of the field as the Bored Ape Yacht Club (BAYC) as well as their mutant cousins, even Moonbirds or Meebits.

According to the Open Sea platform rankings, Okay Beards are currently in 3rd place in terms of sales, with a sales volume of 97,386 SOL over 24 hours, or approximately 9.6 million dollars.

This is the first time that an NFT project developed on Solana has taken the top spot in terms of 24-hour sales. However, in global comparison, Ethereum remains the leader with $104 million generated on the same day in terms of NFTs sales volume, compared to $29.1 million for Solana, which however saw its sales volume explode by +216% notably thanks to Okay Bears.

Why such a success

Facing the great leader of the NFTs universe, Yuga Labs, who created the now unavoidable NFTs Bored Ape Yacht Club and who recently acquired the CryptoPunks and Meebits collections, the new projects know that they must ensure a certain quality.

The success of the ‘club’ system, which allows BAYC holders to benefit from a number of advantages including exclusive airdrops, has been proven. Rather than simple NFTs to be exchanged, the community seems to demand concrete projects.

This is what Okay Beards is proposing here via its whitepaper, called “Blueprint” (technical drawing)

We’re not just publishing a roadmap, we’re laying out the blueprint to guide and build a community-centric, world-leading Web 3.0 brand.

The Okay Bears promise, among other things, a “Bear Market”, which will give holders access to exclusive content around the world, conferences or exclusive merchandise through a partnership with Shopify.

A “Gallery” corner will also be set up so that the Okay Bears community can interact directly with the project by submitting fan art. In addition, the project will also serve as an incubator for community initiatives aimed at developing the Okay Bears ecosystem through a licensing and grant system.

In any case, this is a project to follow closely, and one that is likely to be talked about.

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