Since launching on 2 February 2022, new NFT collection, Hypebears, has been embraced by more than 300,000 NFT collectors. With each asset priced at 0.4 ETH, the fully white-listed mint with more than 10,000 buyers has now reached a sales record of $40 million.
Featuring 10,000 static and animated 3D avatars of bears, the project was a hit with enthusiasts all over the world who actively participated in the Discord community, Hypebears Raffle, and fan art contest for a spot on the whitelist.
The recent project's success is just the beginning. Founder of Hypebears, Ernest Siow says
"We want to go one step further. Hypebears will not just be an art project, but the goal is to develop it into a self-sustaining social club that creates long-term value for each and every holder".
Launch of new governance token
Committed to driving innovation in the NFT space, Hypebears will be launching its own governance token, $HYPEB to increase engagement with holders. Owners of $HYPEB will be given opportunities to participate in discussions and contribute to the direction of future projects. In addition, $HYPEB tokens can also be staked to earn interest and rewards.
50% of the project's royalties are earmarked for a NFT vault, HYPEBank, where accumulated funds will be used to secure other popular NFTs including Doodles, MAYC, and WEBB3. Hypebear holders who have staked tokens will enjoy opportunities to purchase these attractive assets.
The benefits for the Hypebear community have already begun. From March/April 2022, Hypebear holders will be able to add limited-edition merchandise to their collections.
Brand collaborations and partnerships in the works
As the influence of NFTs continues to grow, Hypebears is exploring future projects with luxury fashion and apparel brands. While still in early stages, discussions have begun to bring Hypebear NFTs beyond digital art, expanding into fashion, technology, and toys.
"What we have built here is unlike any other. The Hypebears movement is real and the potential we see is limitless. We look forward to taking the NFT space by storm", says Ernest Siow.
Hypebears is a classic 10,000 collection by Ernest. The ownership of a Hypebear grants one the access to an exclusive Social Club which provides a variety of perks including real-world utilities and whitelists in collaboration projects.
News Source: ACN Newswire