Solana-based Okay Bears NFT collection signs licensing deal with IMG
Okay Bears, one of Solana’s top NFT collections, has inked a deal with global management firm IMG. The duo will be working together to launch consumer products and experiences.
As part of the partnership, IMG will become the exclusive global licensing representative for Okay Bears, a 10,000-sized collection of bear NFTs. IMG will also work as an extended team of the NFT project to “identify, create, and cultivate innovative IP opportunities in industries including Fashion, Sports, Media, Entertainment, Gaming, Automotive, Food & Beverage, and more.”
Co-founded by graphic designer Kais and former engineer Suby, Okay Bears made headlines in April 2022 after setting a new record in the Solana NFT ecosystem. The project generated $18 million in sales within the first 24 hours of its launch on NFT marketplace Magic Eden, generating more daily trading volume than existing Ethereum projects.
Beyond holding a jpeg image, Okay Bears has promised holders additional perks like merch drops, brand collaborations, and live events. That being said, Bruno Maglione, president of licensing at IMG, said that the Okay Bears "brand message and values" would be reflected in future collaborations and products.
IMG is a major player in the IP space, having worked on licensing deals with brands like Fortnite, Lego, and Angry Birds. In 2013, the agency merged with one of the biggest talent agencies in the world, Endeavor. However, IMG has remained largely untouched.