Okay Bears and Anthony Edwards Join Forces for Charity
This week, Okay Bears announced an NFT collaboration with NBA star Anthony Edwards and HEIR
Summary: Okay Bears has announced a collaboration with Anthony Edwards and HEIR to create an NFT project for charity. The project will involve the creation of a custom, Edwards-inspired Okay Bear, which will fund a charitable cause to be chosen by the NBA star. A Solana-based NFT collection, Okay Bears has quickly built a massive following in the NFT space. And the larger intersection between sports and crypto has been gaining momentum in recent years as well, with NFTs becoming an interesting option for sports fans who want to own a piece of memorabilia from their favorite athletes. The collaboration between Okay Bears, Anthony Edwards, and HEIR offers just the latest example of how sports and NFTs can intersect in positive ways.
Okay Bears announced this week via tweet that it has joined forces with NBA star Anthony Edwards and fan engagement platform HEIR to create a custom Okay Bear based on the Minnesota Timberwolves star. The collaboration will help raise funds for a charitable project to be chosen by Edwards. Here we discuss the larger Okay Bears project, Anthony Edwards's career, the new NFT collaboration between them, the increasing intersection between sports and crypto, and how sports may continue to overlap with the NFT industry moving forward.
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The Okay Bears Project
Okay Bears is a Solana-based NFT collection that has taken the NFT world by storm over the past year. Consisting of 10,000 different bears that form an online community, Okay Bears quickly evolved from being a new and unknown project to one of the industry's most recognized collections within just a couple of months. This was due in part to its distinct and innovative branding, which included low-fi artwork and OK gestures, along with the hashtags #WeAreAllGonnaBeOkay and #WAGBO. Each Okay Bear is algorithmically produced with an embedded utility, such as merch drops, live events, and outdoor marketing.
Okay Bears began its mint on April 26th, 2022, at a price of 1.5 SOL—which was $147 at the time. The project began selling its first batch of 7,400 NFTs to allowlist users, before selling its second batch of 2,500 NFTs to the public.
When Okay Bears first announced its mint date on Twitter, an almost immediate buzz followed. Because there were far more collectors than available public NFTs, a flood of secondary transactions ensued, which significantly raised the floor price. This was perhaps the first time any Solana NFT project outperformed any single Ethereum project in terms of daily trading volume—though it wouldn’t be the last. OpenSea recorded about 187,500 SOL (equivalent to around $18.5 million then) in secondary transactions in the 24 hours following the initial minting of the 10,000 bears.
Anthony Edwards's Career
Meanwhile, Anthony Edwards is a versatile athlete who has taken the basketball world by storm in his own right. His career trajectory has already proven remarkable, as he was drafted first overall by the Minnesota Timberwolves in 2020 after a successful season at the University of Georgia. Despite the many challenges presented by the COVID-19 pandemic, Edwards quickly established himself as a key player on the Timberwolves roster, averaging 19.3 points per game throughout his rookie season and earning recognition as the NBA Rookie of the Year.
Edwards has proven equally visible off the court. He has a significant social media following and uses his platform to promote social justice issues, particularly related to racial equality. He has demonstrated his talents outside of basketball by acting in Hustle with Adam Sandler in 2022 as well. And his 2023 playoff run has further cemented his place as one of the most exciting players in the NBA. With his signature combination of talent and charisma, Edwards seems well-poised to continue making an impact for years to come.
The Okay Bears, Anthony Edwards, and HEIR NFT Collaboration
The NFT collaboration between Okay Bears, Anthony Edwards, and HEIR will entail the creation of a custom, Edwards-inspired Okay Bear, which will then be auctioned off to fund a charitable project to be chosen by Edwards.
Okay Bears has already set its own precedent in collaborating with an NBA player for charity. In 2022, Okay Bears also teamed up with Michael and Jeffrey Jordan-founded HEIR and Chicago Bull Lonzo Ball. The project, according to Okay Bears, “raised over $18K to refurbish two community basketball courts in Lonzo's hometown.”
In reference to its growing NBA (and other) collaborations, Okay Bears also stated: “Why are we doing this?… At @okaybears we believe that the step to first connect with established names and brands across industries… Not everyone plays ball, but everyone knows a good cause (and good art) when they see it.”
As such, the new collaboration between Okay Bears, Anthony Edwards, and HEIR offers yet another example of how NFTs can be used for social good. And the auction of the custom Okay Bear will not only raise funds for a worthy charitable project but also provide an opportunity for fans to own a unique piece of digital art inspired by an exciting NBA star. This collaboration also showcases the versatility of NFTs and how they can be used to bridge the gap between sports and crypto.
The Intersection Between Sports, Crypto, and NFTs
The intersection of sports and crypto has been gaining momentum in recent years. Many athletes are now publicly embracing cryptocurrencies and blockchain technology, with some even having chosen to receive part of their salary in cryptocurrencies. This trend is not limited to the NBA either; professional athletes in other sports, like football and baseball, are also increasingly embracing crypto.
NFTs have also become a viable option for sports fans who want to own a piece of memorabilia from their favorite athletes and teams. NFTs offer a unique new way for fans to connect with the sports world, and can be used to represent anything from game-winning shots to signature moves. This has created an entirely new market for sports memorabilia, with NFTs being sold for large sums.
As more and more athletes embrace crypto and blockchain, we can expect to see more collaborations between digital art brands, athletes, and sports leagues and organizations. And NFTs can also provide a new revenue stream for the athletes themselves, allowing them to monetize their personal brand in a way previously not possible.
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Conclusion
Overall, the Okay Bears collaboration with Anthony Edwards and HEIR marks an interesting development for the worlds of sports and NFTs. This project highlights the potential of NFTs to be used for social good while also showcasing the growing intersection of sports and digital art. Collaborations like these are also beneficial for platforms like Solana and its robust ecosystem of other NFT projects and collections. And as the adoption of cryptocurrencies and blockchain technology continues to grow, we can expect to see plenty more innovative collaborations like this in the months and years ahead—both on and off the court.
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Conclusion: The collaboration between Okay Bears, Anthony Edwards, and HEIR is a unique and exciting development in both the sports and NFT worlds. The collaboration involves the creation of a custom Okay Bear inspired by the NBA star, with proceeds going towards a charitable project to be chosen by Edwards. This provides an example of how NFTs can be used for social good and highlights the versatility of NFTs in bridging the gap between sports and art. As the adoption of cryptocurrencies and blockchain technology continues to grow, we can expect to see more innovative collaborations like this in the future. As always, feel free to share your thoughts on Okay Bears, Anthony Edwards, and other trending cryptotopics in the comments section!
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