NFT Project Okay Bears Signs Licensing Deal With IMG

IMG has been appointed as the exclusive global licensing representative to launch consumer products and experiences for the Solana-based PFP project.

Sep 20, 2022 at 1:00 p.m. UTC

Updated Sep 20, 2022 at 3:22 p.m. UTC

(Okay Bears via Magic Eden, modified by CoinDesk)

Rosie Perper is the Senior Editor for CoinDesk Learn, focusing on crypto explainers across blockchain, cryptocurrency, NFTs and DAOs. She has previously worked across breaking news, global finance, tech and culture, and holds a small amount of BTC and ETH.

Follow @rosieperper on Twitter

Project name: Okay Bears
Project type: PFP (profile picture)
Original mint date: April 26, 2022
Original mint price: 1.5 SOL (approximately $150 at the time).
Runs on: Solana

Okay Bears, a successful non-fungible token (NFT) project launched on the Solana blockchain, is teaming up with global entertainment leader IMG to launch consumer products and experiences.

The deal places IMG as the exclusive global licensing representative for the community-focused project, which consists of 10,000 well-dressed bears sold in the form of PFP NFTs. The project made $18 million in sales within 24 hours of its April 2022 launch on NFT marketplace Magic Eden - generating more trading volume than any individual Ethereum project. This is significant because many of the most popular NFT projects to date have minted on the Ethereum blockchain.

Co-founded by graphic designer Kais and former engineer Suby, the project has promised merch drops, live events and brand collaborations for its holders, who rally behind the message "We're All Gonna Be Okay." Bruno Maglione, president of licensing at IMG, said that the Okay Bears' "brand message and values" will be reflected in future creative collaborations and products.

IMG has previously worked on licensing deals with youth-focused brands like Fortnite, Lego and Angry Birds. Meanwhile, the NFT project recently collaborated with NBA basketball supplier Wilson and Chicago Bulls point guard Lonzo Ball on a 1-of-1 signed NFT in his likeness.

Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.