Solana-based Ok Bears NFTs signs licensing agreement with IMG

Ok Bears has quickly become the signature Solana NFT project. It’s showing again this week, as a new licensing deal has come to life with the Okay Bears and entertainment giant IMG.

IMG’s stature, and ok carries potential

IMG is one of the biggest names in IP, a global behemoth that deals in global product and brand licensing. The agency merged with arguably the largest talent agency in the world, Endeavor (formerly known as WME), in 2013. However, Endeavor has largely left IMG untouched and has held the role of parent company, allowing IMG to do what it does best.

IMG’s strength aside, the licensing deal makes a lot of sense. Although Okay Bears is a very young project in an equally young market, it is clear that NFTs with profile pictures like 10,000 mint Okay Bears are finding their way into public markets. Even if big brands and media are not using them yet, the money reinvested in the crypto market alone will continue to fuel growth. A prime example of this came just last month, when we broke down our weekly ‘NFTs in a nutshell‘ report and highlighted Solana-based barrelDAO, which is brewing a summer shandy beer with a can that will feature prominent Solana-based NFT projects – Okei Bears included, of course.

NFT representation: What we’ve seen so far

Representation has, however, been far from an established unambiguous structure when it comes to NFTs. At a very high level, in traditional media, the lines are much less blurred: agents bring the artist’s work, managers help artists make the decision whether to take the work or look for other opportunities, and publicists help promote the artist’s upcoming or ongoing work. Several different actors have become involved with NFTs.

The structure of NFT representation is far from clear, but one thing that is clear is that major Hollywood agencies are showing a willingness to get involved. We’ll see how it shakes out when it comes to IP exploitation, media and brand deals and more.

Solana is working to secure it's position as a powerhouse NFT player, with projects like Okay Bears leading the charge. | Source: SOL-USD on TradingView.com

Featured image from okaybears.com, Charts from TradingView.com
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