Okay Bears, the wildly popular NFT project launched on Solana blockchain, has just signed an exclusive global licensing agreement with IMG, the global entertainment leader. The agreement will see IMG launch consumer products and experiences for the project.
With a market cap of over $500 million, the community-focused project consists of 10,000 well-dressed bears sold as PFP NFTs. Within 24 hours of its launch on NFT marketplace Magic Eden in April 2022, the project generated more than $18 million in sales – the highest trading volume for any individual Solana-based NFT project, beating even the biggest Ethereum-based projects.
Co-founded by graphic designer Kais and former engineer Suby, Okay Bears has promised merch drops, live events, and brand collaborations for its holders. These brand collaborations, in particular, will be exciting to watch unfold, as the Okay Bears brand message and values are deeply rooted in the community.
Bruno Maglione, president of licensing at IMG, noted that these brand collaborations will reflect the Okay Bears’ values and message. IMG has previously worked with youth-focused brands like Fortnite, Lego, and Angry Birds, and the Okay Bears project marks its first entry into the NFT space. The project has already collaborated with NBA basketball supplier Wilson and Chicago Bulls point guard Lonzo Ball on a 1-of-1 signed NFT in his likeness.