Solana-Based NFT Collection Okay Bears Partners With (RED) to Fund Global Health Efforts

The PFP project will release (RED)-themed merchandise to raise funds for The Global Fund to Fight AIDS, Tuberculosis and Malaria.

AccessTimeIconApr 13, 2023 at 7:00 p.m. UTC
Updated Apr 13, 2023 at 7:08 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Solana-based non-fungible token (NFT) collection Okay Bears said Tuesday it's teaming up with global health organization (RED) to raise funds to fight AIDS and global health injustices.

The two entities are collaborating on a merchandise collection, utilizing the intellectual property (IP) of both brands to release hoodies, T-shirts and wristbands. A portion of the proceeds will be donated to the Global Fund, an organization dedicated to providing resources to fight AIDS.

Peter Gould, chief communications officer at Okay Bears, said in a press release the NFT collection is emblematic of a “culture shift” in the space, utilizing NFTs to power philanthropy.

“We’re proud to collaborate with (RED) and build on our shared history of using merchandise and digital collectables to combat the most important human rights issues of our time,” said Gould.

Greg Sheps, head of business of development at (RED), said he views on-chain art as an innovative vehicle to fundraise.

“If we want to end the threat of AIDS, we must think outside the box, meet consumers where they are, and create new and exciting collaborations that generate more money and more heat to fight AIDS and the injustices that enable the pandemics to thrive,” said Sheps. “(RED) is thrilled to continue our foray into the digital art space by collaborating with Okay Bears to drive life-saving testing, treatment and care to those who need it most.”

Okay Bears has been working to expand its IP into partnerships and real-world experiences. In July, the collection inked a partnership with entertainment company IMG to roll out new products for the collection.

According to data from NFT marketplace Magic Eden, Okay Bears is among the top Solana-based projects on its platform. At the time of writing, it has a floor price of 77.5 SOL, or about $1,900, with a trading volume of 3.1 million SOL, or $76.3 million.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Cam Thompson

Cam Thompson was a news reporter at CoinDesk.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.