Bull-ish Bears

Solana project launches with $18 Million

NFT projects are constant and to be a successful project is indeed the hope of many that come into the space. Solana has made it a lot easier for projects to start and make profit. Before the beginning of this week Solana NFT trades were seeing a new pump but none so big as this past Tuesday.

There have been many projects that have tried to build on the momentum and success of the ETH project Bored Ape Yacht Club with only Solana Monkey Business being close enough to that success. This past Tuesday all of that changed with the launch of Okay Bears. The Avatar series “Okay Bears” released to a trading volume that surpassed all other Ethereum projects, even BAYC.

The similarities between the two projects cannot be denied.

The launch of the project was a fair 1.5 SOL which equates to $145, but the sales on the secondary market soared with the floor of the project now being 187 SOL which is around 17.8K with the current price of solana being 95.17 ( subject to change). With the tracking of the initial launch of the project’s secondary market sales equating to $18.4 million this was reportedly the first tie an NFT project on Solana has beaten out any Ethereum project. Currently the project has a trading volume of over 417,000 ( more than $40 million USD). Solana trading has seen an increase of over 200% this week as well. Currently Okay Bears is sitting pretty at the top of OpenSea’s market-wide sales tracker.

Even with recent sentiment towards 10,000+ collections being rather unfavorable lately the project was able to sell out within a day which ended with the project making a total of $23.1 million by the end of the trading day. There is no benefit to being close minded so the fact that is the openess of the community is what led to the utter success of the project.

Some of the ideas of the project seem to be inspired by the Bored Ape Yacht Club. There are plans for a community area entitled “The Park” which will allow an area for the community to build and grow. To access the park the you must have a bear. There wll be merchandise drops for members , live events, and more exclusive things for members only.

Solana has been looking for its BAYC competitor, in Okay Bears it seems it may have finally found it.

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Solanews

Solanews

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