Okay Bears has just announced its first airdrop to the community, giving away 10,000 Non-Fungible Token (NFTs) that can be redeemed for physical gold or cash equivalent.
Hibernation Over.. Bears Awake to the first Bear Drop!
– As we experiment with ways to celebrate achievements and milestones with our holders, today we are dropping 10,000 unique digital collectibles, called Founders Coins.
Let’s break it down 👇
— Okay Bears (@okaybears) August 2, 2022
Each “Founders Coin” features a unique combination of hand-drawn attributes inspired by the original Okay Bears collection, and has a corresponding gold value.
Here are more details:
- Each NFT Founders Coin will be randomly attached with a gold weight ranging from 0.25, 0.5, 1, 5, and 10 grams.
- Currently the value of a gram of gold is $56.50.
- Owners can redeem NFT into real physical gold in Q4 2022. The minimum weight to receive physical gold is 10g. If a holder owns NFTs weighing less than 10g, then they can redeem the NFT for the equivalent value in $SOL or $USDC.
- Founders Coins that are redeemed for gold will be burned.
- There is a 5% royalty on the air drop. Royalties on Founders Coin sales within the first eight weeks will be donated to the Okay Cares fund. After that, the community can vote on how the funds are used for charities.
Cautioning against possible scams, the Okay Bears team said the Founders Coins will be delivered directly to holders’ wallets.
What Is Okay Bears:
Okay Bears is an NFT project built on the Solana blockchain platform, consisting of 10,000 NFTs, with avatars of bears with unique characteristics. Okay Bears offers owners exciting benefits that have built a thriving and supportive community.