T H

T H

28-04-2022

00:50

1/ The big question today is why? @okaybears Why did a project on Solana smash every single record in Solana NFT history? Why did this project achieve an all time high floor price of 60 SOL within 24 hours? What makes this project so special? A 🧵on my thesis: ⚠️this is long

2/ We can break down Okay Bears success into 6 DISTINCT areas. If you are building a project, thinking about starting one, or even just evaluating new projects, each one of these areas are important and are absolutely a factor when launching.

3/ The first area is branding. From the absolute beginning, Okay Bears had a brand, a feel, a vision to keep everything uniform, have their logo be distinct, create a whole message (WAGBO) ,etc. You get the point. This was done intentionally.

4/ It was done with intent and executed perfectly. This led to anyone who saw anything from their slogan, profile picture, hashtag, stickers, know exactly where it was coming from. It was quite clear from the beginning that this was all meticulously planned.

5/ The second area is the team. The team at Okay Bears is nothing short of amazing. They are professional, transparent, and most of all experienced. Anyone who did research into the team knew they had a previous project.

6/ Yes the low floor price of the project could have been deceiving and if they stopped their research there, that’s all they would have seen. HOWEVER, anyone who dug a bit deeper saw much more behind the curtain. The team had executed on items that projects take weeks doing.

7/ They had a full blown merch shop, additional collections, onchain upgrades both in metadata and art, and much more. This to me, was indication that the team has experience doing this and have executed this before. They are not new to the space, again super important.

8/ The third area is community. The community for Okay Bears is absolutely amazing. With the vibe of just being okay, there is no FUD, there is no price discussions, its just people chilling and have a good time. Again, this was created intentionally.

9/ From the beginning, there was one message for the community. We are all in this the same, we are all in this together. Read the photo below for the exact message, but they fostered a community of equals. They quite literally started a movement.

10/ The fourth area is creativity. Before I jump into this, I know the team did take popular elements from other projects. Yes their website did have some similarities with another project, BUT at the end of the day, it was done in a creative fashion.

11/ The team managed to create a unique atmosphere, community, slogan, stickers, banners, I can keep going on and on but you get the point. People are saying WAGBO everywhere. We are all going to be okay. That is so creative and awesome that something like that was thought of.

12/ The fifth area is vision. They had a vision from the beginning and stuck with it. Even in my most early conversations with @suby_sol, he had a clear idea of what type of project this will be. They had the goal of creating a global brand, no staking, no gimmicks, just vibes.

13/ This is very important because from the beginning, the team had an idea of who and what they wanted to be. It all flowed downstream into their roadmap, branding, website, etc. They weren’t out to follow the meta, but instead do something they wanted to do.

14/ The sixth and final area is execution. We have seen projects with all of the above, maybe not done to this level, but had popular components of each. But why Okay Bears? At the end of the day, it all comes to execution and the team did this marvelously.

15/ Every single step of the process was calculated, double checked, thought through, and intentional. The team knew what was required, how to do it, when to do it, and what it will do. This was incredibly important to the project’s success as any mishaps could be detrimental.

16/ If you took notice in the earliest announcements of the project, their earlier projects, it was absolutely clear that the team was able to execute on this level. It all really comes down to it. Do they have what it takes to EXECUTE on what they set out to do. The answer: YES.

17/ Obviously, there are a lot of other areas Okay Bears did well, but I think we can extract the 6 above to really set a standard for what other projects have to do to be as successful. Think about branding, team, community, creativity, vision, and execution.

18/ Each plays an extremely crucial role and when it is done well, it can be incredibly rewarding. Use this framework to evaluate future projects, whether you’re a builder or an investor. Look at these signs to find the next big project or better yet, create the next blue chip.

19/ I am still extremely bullish on this team, I hold a lot of bears, but I am so excited to be on this journey. I thank each and everyone of you for reading. The last 24 hours has been amazing for Solana, and I truly hope this has set a new standard for projects. WAGBO



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