In case you missed it, the Not Okay Bears NFT Assortment completely took over the NFT house this previous 24 hours. The gathering turned the highest assortment on OpenSea and LooksRare in a matter of hours. On the time of writing, OpenSea has delisted the undertaking and the NFT neighborhood is taking sides.
Who’s Not Okay?
The Not Okay Bears is principally an Okay Bears knockoff on Ethereum. The unique undertaking builds on the Solana blockchain and has been top-of-the-line promoting collections there. Beforehand, we solely see Solana knockoffs of Ethereum tasks. I assume issues are completely different now?
Just like the left dealing with apes earlier, the Not Okay Bears are left dealing with Okay Bears. Apart from the 10k PFP NFTs, the project website can be just like the unique web site. At present, the undertaking has a flooring value of 0.085 ETH on LooksRare with a buying and selling quantity of greater than 233 ETH. Within the face of delisting threats, the workforce is at the moment growing their very own market to maintain the ball rolling.
Are we okay with Not Okay Bears?
Because the Not Okay Bears undertaking started to climb the NFT leaderboards, among the neighborhood members expressed their disgust and frustrations. As an example, BAYC and MAYC proprietor @BombNFTs cash the undertaking as ‘the whole lot unsuitable with this house’. The person feels that the neighborhood shouldn’t reward a undertaking with stolen artwork and near no effort in any respect. The undertaking can be not doxxed and has no roadmap. From the appears to be like of it, many are on this camp.
Then again, the undertaking neighborhood continues to be raging over the OpenSea delisting. They’re demanding a solution as to why the 0xApes Trilogy and the Bored Ape Solana Membership are nonetheless stay on OpenSea whereas their undertaking just isn’t. These copycat tasks not solely commerce on OpenSea, however are verified tasks. Due to this fact, it isn’t stunning that the Not Okay Bears are usually not okay with this.
One of the best factor to come back out of the Not Okay Bears is the donation in direction of the Psychological Well being Impression Index Fund. After the undertaking offered out, the undertaking rapidly despatched 35.8 ETH to help psychological well being consciousness. Subsequently, The Giving Block matched this donation by way of their #CaringWithCrypto marketing campaign. All in all, the spinoff NFT undertaking introduced in additional than 70 ETH to help this trigger. That is VERY OKAY in my books.
Nevertheless, one may argue that 35.8 ETH is barely a small portion of the mint funds. If the undertaking is certainly a money seize, there are nonetheless loads of ETHs to run away with. To this point, Okay Bears is but to launch any statements or take any actions.
The market has loads of copycats and derivatives, in all sizes and styles. That are okay and which aren’t? I don’t suppose there’s a blanket reply for now. So, which facet are you on?
The journalist is a writer and digital nomad. Loves thinking, learning, and writing about all things Web3, particularly its impact on major creative industries.