Ethereum has enjoyed dominance and success in NFT sales for quite a while, but Solana’s new profile-picture NFT project, Okay Bears, managed to top all of the previous Ethereum NFT campaigns.
With 10,000 unique profile pictures, the big day for Okay Bears was Tuesday, April 26th. That’s when Solana’s NFT marketplace Magic Eden initially announced the collection for 1.5 SOL ($145) a piece. The secondary trading that followed made the price skyrocket and generated $18.4 million in trading volume in just 24 hours, thus beating Ethereum’s VeeFriends ($13.1 million), Meebits ($11.9 million), and Imaginary Ones ($10.1 million).
Solana Made History
Tuesday was marked with all-time highs for Solana, as it had the most unique fee payers, the highest volume of NFTs traded, and the highest number of smart contracts carried out. Starting at $145 for a piece, the cheapest Okay Bear went to approximately $5K just before selling out.
According to Magic Eden, the official marketplace, Okay Bears is a “clean collection of 10,000 diverse bears that will transcend the internet into the real world.” Tiffany Huang, the general manager of content and marketing at Magic Eden, explained: “It’s a new era of growth for Solana. Communities will ultimately pick winning collections regardless of chains.”
After celebrating a successful launch day, Solana announced their long-term plans in relation to Okay Bears NFTs, which have a strong resemblance to Ethereum’s previous NFT project, Bored Ape Yacht Club. The perks include the upcoming Bear Market (an exclusive marketplace), member-only NFT drops in the near future, and additional benefits that are yet to be revealed.
Record-breaking 24 hours. This is a celebration of the entire Solana blockchain. We didn't get here alone, and we don't intend on moving forward alone either.— Okay Bears (@okaybears) April 27, 2022
The Bear Market is now under construction in partnership with @MagicEden.
Let's make the bear market bearable. pic.twitter.com/AhLjz0NNXS