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.