Okay Bears

Brand / PFP
Blockchain: Solana
Collection size: 10000
Mint date: 26th April 2022
Mint price: 1.5 SOL
Current floor price (ME): 1.4 SOL
Total Listed (ME): 1104
Total Sales (ME): 3,458,247.36 SOL
Project verified by
Last review update August 17th, 2023

About Okay Bears

Overview

Okay Bears aims to drive a cultural shift to celebrate the middle ground in a world of increasing polarisation. Winners and losers, good and bad, heroes and villains. Okay Bears wants to remind us that it is okay to be okay and still be capable of building an extraordinary brand.

Holders are granted access to The Park and be part of a community and brand looking to be recognised as a force for good in the world sharing the timely message:

We’re all gonna be Okay.

 

The Collections

Okay Bears

The Okay Bears are a collection of 10K NFTs and form the centrepiece of the project.

 

Bear Drops

The Bear Drops are limited collections that are gifted to the community, typically in recognition of various milestones. Each Bear Drop Coin has an attributed weight (Weight Trait) which indicates the equivalent weight of gold backing the Coin. This physical gold is held by Okay Bears in a vault facility in Australia.

Amounts totalling more than 10 grams of gold can be redeemed for the gold itself. Amounts less than 10 grams can be exchanged for their equivalent gold value in USDC or SOL. Redemption of the gold, or gold value, results in the NFT being burned.

At present, there have been two Bear Drops:

Further FAQs on the coins can be found here.

 

Okay Cares

Okay Cares represents the project’s commitment to be a global community of impactful givers. This is achieved through community auctions of exclusive 1/1 Bears designed to reflect the charity or organisation being represented.

To date, three auctions have been carried out supporting:

  • Lonzo Ball and HEIR to support construction of co-branded basketball courts in Lonzo’s hometown
  • The United Nations Refugee Agency to support emergency efforts following the earthquake in Syria and Türkiye
  • Movember in support of the organisation and men’s health issues

Beyond the auctions, Okay Cares also accepts community donations through charity platform GetChange.

 

Sleep Streak and the Return of Royalties

March 2023 saw the transition of the collection to pNFTs which allowed the project to enforce royalties. In recognition of this, the team committed to giving back 100% of the royalties earned for a month-long period via a raffle. 10 winners were drawn over the month, each earning 10% of the prize pot which ended up being around 580 SOL per winner.

 

Okay+ Campaigns

April 2023 saw the announcement of Okay+, an advertising campaign driven by the Okay Bears brand. Brands have the opportunity to run ad campaigns through the Okay Bears community through either:

  • PFP Campaign
    • Allows holders to alter their PFPs to rep a brand’s accessory and receive a portion of that sponsorship revenue
  • Sponsored Posts
    • Open for anybody with a Solana wallet to opt-in for a marketing campaign and be rewarded for the impressions gained.

The first Okay+ Campaign was launched in July 2023 with watch-maker Col&MacArthur.

Some statistics from the campaign were made available as follows:

 

Utility

Branding

Each Okay Bear entitles their holder to the IP rights (within a series of compliance terms to not bring the project into disrepute). Holders are able to access an IP pack to be utilised in building their own brand.

Several initiatives to keep driving the growth of the brand are outlined in the Blueprint such as:

  • Workshop – partnerships ranging from grassroots communities to larger global brands
  • Studio – priority access to future art, music and NFT drops for an ongoing stream of good vibes
  • Gallery – a place to celebrate both the Okay Bears collection and fan art displays
  • Boutique – production of merchandise, limited edition collectibles and collaborations with existing fashion brands
  • Platform – conferences and presentations exclusive to Okay Bears and partner collection holders as well as supporting other start-up concepts that can grow the Okay Bears brand

 

The Park

At the core of the Okay Bears project is the community space, The Park. Through The Park, the team aim to cultivate a healthy culture where it is okay to be okay and shift away from the more degenerate ‘wen moon’ culture that typifies many communities.

 

Bear Market

The Bear Market is a one stop shop for all Okay Bears related collections hosted on their own website and powered by Magic Eden. It can be accessed here.

 

Badges and Streaks

Badges and Streaks represents the rewards hub for the Okay Bears community. The platform incentivises and rewards holders collecting NFTs, loyalty for holding NFTs and positive representation of the project on social media.

Badges

Badges serve primarily as a collector’s item to recognise your holdings. Badges start being earned for holding a particular fur bear and go up in tiers as you hold more bears of the same fur trait.

 

Streaks

Streaks allow holders to show their loyalty and rep the community on social media. Through streaks, holders accumulate tickets for regular raffles to earn prizes ranging from NFTs to real-life items like iPhones, Apple Watches and even Rolex watches!

There are three streaks that holders can participate in:

  • GM – through the rewards hub, holders share their gm wishes on Twitter using the template provided
  • Rep – rewards holders who rep their Okay Bear as their Twitter PFP
  • Sleep – rewards holders who do not have their bears listed for sale

 

 

Art
Team
Team Members Role
Powered by

Kais

Suby

Peter

Adam

Dada

Imad

  • Chief Operations Officer

RLX

Mandy

Sasa

  • Creative Director

Moony

  • Illustrator

Rama

  • Concept Artist

Teeq

HB

  • Designer

DD

  • Designer

Shoevan

  • Software Engineer

Devid

AR Man

  • Animator

Bec

Elie

Drims

Chad

Mr. Burns

Elsa

  • Designer

Erwin

  • Animator

GG

  • Game Developer

Warbucks

Review

Initial Thoughts

For a long time Okay Bears has flown under the radar for me. I think my initial disinterest was due to the massive hype surrounding the launch and the subsequent pump pricing me out followed by the inevitable dump as price stabilised. Furthermore, I never saw huge amounts of content or engagement on social media, especially with specific details about what the project was doing and most of what I did see was centred around the ‘wen wristband’ phase. That could also be down to the Twitter algorithm to be fair. In more recent times I’ve started to understand and therefore value brand plays significantly more and as one of the OG Brands on Solana, it was inevitable that I would dig deeper into Okay Bears.

As I started to look into the project, it made much more sense.

 

The Brand

The brand is centred around bringing positive vibes and reassurance to a world of increasing cynicism and polarisation. Socially, we are swinging between opposite ends of the spectrum and bringing focus back to valuing the stabilising middle ground is a wonderful sentiment. This is reflected in their Discord community which I found to be a very pleasant experience. Most channels I’m in can be characterised by fast-paced nonsense which I will put on mute very quickly. The quality of the community in Okay Bears is something I am happy to make time for.

This is a stark contrast to common perceptions of crypto communities as immature, money-hungry and often outright toxic. With this in mind, it makes sense that Okay Bears doesn’t engage as aggressively with the Web3 audience as some other projects do because it’s just not the target audience. Their approach is significantly more grounded.

The target audience is therefore the broader Web2 environment in trying to present an alternative approach and representation of the crypto space that the wider community can get on board with. It does however mean that the growth will likely be more of a slow burn as we overcome the frictions involved with adoption but I do believe the potential is there.

For me personally, my entry into the project is more based on wanting to be a part of the community and the movement as opposed to financial gain. The initial hype and flippers have come and gone.

 

NFT NYC

The NFT NYC announcement was an interesting. For me personally, I found it to be very bullish and a demonstration of the team’s ability to network and connect with Web2 brands. A lot of the Web3 community evidently disagreed as we saw a fairly decent sell-off and the floor drop almost 50%.

The way I see it is this is a demonstration of the disconnect between what Okay Bears is about and the general mentality of the Web3 community. Most of the dumpers were people who FOMO bought Okay Bears expecting partnerships with the likes of Coca Cola, or expecting instant returns to the holders. This is a clear fundamental lack of understanding of what the project is about. As I said before, Okay Bears is about being a part of a cultural movement, not the rocket to the moon (as much as we’d love that to happen). It’s a slow burn but where DeGods have mastered the playbook on creating hype, Okay Bears are focusing on organic growth through their capacity for networking.

 

Badges and Streaks

Badges and Streaks offers a fun way to reward holders without potentially crossing any legal boundaries or having to deal with sustaining token value. It has been set up very well to incentivise and reward behaviours that the project wants to encourage. My only gripe would be I’m not a fan of the ‘GM’ streak as repetitive posting on Twitter eventually becomes meaningless to the audience when they see the same thing all the time. Granted, it would be much more difficult to have an automated rewards system AND incentivise more quality posting than just a ‘gm’.

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