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- Not Okay Bears is a brand new Ethereum NFT venture that makes use of reversed paintings from Solana’s Okay Bears venture.
- Okay Bears is among the hottest latest tasks throughout the complete NFT house.
Early within the development of Solana’s NFT ecosystem, it was widespread to discover apparent knockoffs of high Ethereum tasks like CryptoPunks and Pudgy Penguins. Now, Okay Bears—the hottest latest Solana NFT venture—has been successfully copied and pasted onto Ethereum in what some observers on Crypto Twitter have hailed as a “full circle” second for Solana.
Not Okay Bears is an Ethereum-based NFT profile image venture that launched earlier immediately, with 10,000 cartoonish bear illustrations with a wide range of randomized traits. If the imagery seems awfully acquainted, that’s as a result of it’s the identical paintings from Okay Bears on Solana—simply reversed in order that the bears are dealing with left as an alternative of proper.
Name it a knockoff, a by-product, or a parody—but it surely’s additionally successful, to this point. The ten,000 NFTs had been all shortly minted this morning at 0.02 ETH (about $41) every except for the primary 1,000 of them, which had been free to mint.
The as-yet-unrevealed creators donated about 20% of the Not Okay Bears mint funds (35.8 ETH, or $73,000) to the Psychological Well being Impression Index Fund through The Giving Block, according to a tweet from the crypto charity platform.
Now they’re promoting on secondary marketplaces like OpenSea, the place they’re buying and selling in droves as the ground value—or value of the most affordable out there NFT—is rising shortly. As of this writing, the Not Okay Bears begin at practically 0.1 ETH (about $200), or 5 occasions the unique mint price. OpenSea exhibits about $930,000 price of secondary buying and selling to this point.
Granted, that’s nonetheless a fraction of how a lot an Okay Bears NFT prices on Solana: the most affordable out there on main Solana market Magic Eden is listed for 243 SOL, or $13,400. An NFT acts like a deed of possession to an merchandise, and sometimes represents issues like digital paintings, profile photos, and collectibles.
Okay Bears has but to publicly touch upon the launch of Not Okay Bears, not to mention whether or not it plans to do something in regards to the venture—reminiscent of, for instance, issuing a DMCA takedown discover to marketplaces. That kind of transfer has been controversial when previous tasks have tried it, reminiscent of the unique creators of the CryptoPunks, Larva Labs.
Decrypt reached out to the creators of Okay Bears for remark, however didn’t instantly hear again. Nevertheless, distinguished members of the Solana neighborhood look like taking it in stride.
Notable NFT collector fxnction tweeted, “ETH dropping a Solana by-product can be a full circle occasion lmao.” Solana co-creator Anatoly Yakovenko quote-tweeted it and added, “Woot! We did it!”
Elsewhere on Twitter, followers of each Ethereum and Solana are buying and selling barbs in regards to the two chains and their respective qualities, usually to hilarious impact. And the creators of Not Okay Bears kicked it off with the official venture description on OpenSea, which reads, “Bears on the blockchain that really works.”
Okay Bears launched in late April and has shortly grow to be one of the vital worthwhile NFT tasks on Solana, to not point out one of many best-selling tasks to this point on the community. In line with CryptoSlam, the venture has generated practically $95 million price of buying and selling quantity to this point.
Over the previous 24 hours, it’s the best-selling venture with practically $5 million price of secondary buying and selling quantity, in line with CryptoSlam—increased than any Ethereum venture, together with heavy hitters just like the Bored Ape Yacht Membership and CryptoPunks.
Solana NFT buying and selling on the entire can be on the upswing, with CryptoSlam displaying a 57% rise over the past 24 hours to $12.4 million, whereas Ethereum NFT buying and selling is down 22% throughout the identical span to $21 million.
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