Solana-Primarily based Okay Bears NFTs Signal Licensing Settlement With IMG

Okay Bears have rapidly change into the signature Solana NFT undertaking. That’s again on show this week, as a brand new licensing deal has come to life with Okay Bears and leisure behemoth IMG.

IMG’s Stature, And Okay Bears Potential 

IMG is among the largest names in IP, a world monster that offers in world product and branding licensing. The company merged with arguably the most important expertise company on the earth, Endeavor (beforehand often called WME), in 2013. Nevertheless, Endeavor has largely left IMG untouched and has held the function of dad or mum firm, permitting IMG to do what it does finest.

IMG’s energy apart, the licensing deal makes an ample quantity of sense. Although Okay Bears are a really younger undertaking in an equally younger market, it’s clear that profile pic NFTs like the ten,000 mint Okay Bears are discovering their approach to public markets. Even when main manufacturers and media isn’t using them but, the cash reinvested within the crypto market alone will proceed to bolster progress. A main instance of this got here simply final month, once we broke down our weekly ‘NFTs In A Nutshell‘ report and highlighted the Solana-based barrelDAO, who’s crafting a summer time shandy beer with a can that will function outstanding Solana-based NFT initiatives – Okay Bears, in fact, included.

NFT Illustration: What We’ve Seen So Far

Illustration, nonetheless, has been removed from a longtime clear-cut construction with regards to NFTs. At a really excessive stage, in conventional media, the strains are a lot much less blurry: brokers carry artists work, managers assist artists make the choice on whether or not to take the work or search for different alternatives, and publicists assist promote the artist’s upcoming or ongoing work. With NFTs, a number of totally different gamers have gotten concerned.

Final 12 months, NFT undertaking ‘Jenkins the Valet’ signed with main company (and competitor of aforementioned Endeavor) CAA. One other three-letter company competitor, UTA, has gotten concerned too, signing on Deadfellaz and dealing with the likes of Coinbase and creators of CryptoPunks, Larva Labs.

The construction for NFT illustration is way from clear, however one factor that’s clear is that main Hollywood businesses are exhibiting their willingness to become involved. We’ll see the way it shakes out with regards to IP utilization, media and branding offers, and extra.

Solana is working to safe it is place as a powerhouse NFT participant, with initiatives like Okay Bears main the cost. | Supply: SOL-USD on TradingView.com
Featured picture from okaybears.com, Charts from TradingView.com
The author of this content material isn't related or affiliated with any of the events talked about on this article. This isn't monetary recommendation.
This op-ed represents the views of the writer, and should not essentially mirror the views of Bitcoinist. Bitcoinist is an advocate of artistic and monetary freedom alike.

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