History of Major Solana NFT Projects: Mad Lads, Okay Bears, DeGods

The Solana NFT ecosystem has been driven by several iconic projects. These projects have contributed to ecosystem growth by leading technological innovation, community culture, and market trends. This guide explores the history and characteristics of major projects representing Solana.

DeGods

DeGods is one of the early success stories of Solana NFTs.

Birth and Growth

DeGods launched in October 2021. It was created by a team led by founder Frank (real name Rohit Varma). The initial minting price was 3 SOL.

The project grew rapidly with its unique art style and strong community. The sophisticated character design and lore attracted holder interest.

Key Features

DeGods introduced a deflationary model. Holders could burn their NFTs and receive an upgraded version called DeadGods. This reduced supply and increased scarcity.

They issued their own token called DUST. It was used for staking and ecosystem participation.

They also launched a derivative collection called y00ts. y00ts became another successful collection with its own distinct identity.

Chain Migration

In 2023, the DeGods team announced a move to Ethereum, causing major ripples in the community. Later, y00ts also moved to Polygon before migrating again.

The chain migration decision was controversial, but the team explained it as part of a multi-chain strategy.

Okay Bears

Okay Bears set new standards in the Solana NFT market.

Launch and Success

Okay Bears launched in April 2022. The floor price surged immediately after launch, setting an all-time record for Solana NFTs.

The cute bear character design was hugely popular. The simple yet charming art style received widespread acclaim.

Market Impact

The success of Okay Bears significantly increased interest in Solana NFTs. It gained attention even in the Ethereum NFT market, demonstrating the potential of the Solana ecosystem.

At the time, it was the first Solana NFT to record a floor price above 100 SOL. This proved that Solana NFTs could have high value.

Community Culture

The Okay Bears community emphasized a positive and inclusive culture. They formed a friendly image with their peace sign logo.

They provided membership benefits including physical merchandise and event access.

Mad Lads

Mad Lads is a project that gained attention through technological innovation.

Backpack and xNFT

Mad Lads launched on a wallet app called Backpack. Backpack introduced the concept of executable NFTs (xNFT).

xNFTs are not just images but NFTs that can be executed like apps. With functions embedded in the NFT itself, various interactions are possible within the wallet.

Launch and Response

Mad Lads, launched in April 2023, received great attention along with its technical novelty. It was evaluated as an example of technological advancement in the Solana ecosystem.

There were technical issues during the minting process, but the community overcame them and showed strong cohesion.

Ecosystem Contribution

Mad Lads and Backpack expanded the technological possibilities of Solana NFTs. They showed that NFTs can be more than collectibles—they can be practical tools.

They also breathed new life into the Solana ecosystem, which had been depressed after the FTX incident.

Other Notable Projects

Claynosaurz

Claynosaurz is a cute dinosaur character collection. It gained attention with high-quality 3D art and animation.

They’re pursuing game and metaverse integration, presenting a long-term vision.

Tensorians

Tensorians is the official collection released by marketplace Tensor. It was airdropped to early users of the Tensor platform.

They showed a new model of combining marketplaces and NFT collections.

Famous Fox Federation

Famous Fox Federation (FFF) is one of Solana’s early projects. It’s a fox character collection maintaining a steady community.

They operate several derivative collections and a staking system.

Analysis of Project Success Factors

Let’s examine commonalities among successful projects.

They have strong communities. Not just investors, but passionate holders support the projects.

They have unique identities. Memorable art, stories, and culture differentiate the projects.

They show continuous development. Even after minting, teams continue to work and create new value.

They lead technological innovation. They contribute to ecosystem development by introducing new technologies or concepts.

Investment Considerations

Past success doesn’t guarantee future results.

All projects can face difficulties depending on market conditions. When the overall Solana market is depressed, individual projects are affected too.

Continued team engagement is important. If teams leave or stop working, project value can decline.

Reference past performance but check current status. Look at current community activity, trading volume, team activity, etc.

Diversified investment is safer. Spread across multiple projects rather than concentrating on one.

Conclusion

The Solana NFT ecosystem has been led by projects like DeGods, Okay Bears, and Mad Lads. Each project has contributed to the ecosystem in its own unique way.

Understanding this history helps you better grasp the current market. You can also reference success factors from past cases when evaluating new projects.

In the next guide, we’ll explore how to understand Solana NFT market trends.