NFT Project Hypebears Reaches $40 Million in Sales Volume
The NFT collection Hypebears has generated over $40 million in sales volume since its launch on February 2, 2022. The project plans to release a governance token.
The new NFT collection Hypebears has reached over $40 million in sales volume since its launch on February 2, 2022. The digital art project, featuring 10,000 3D bear avatars, has attracted more than 300,000 collectors globally.
Ernest Siow, founder of the Hypebears project, stated that the success marks only the beginning. Plans are in place to evolve Hypebears from an art project into a self-sustaining social club, aiming to create long-term value for holders.
The project intends to launch a governance token, $HYPEB. Token holders will be given opportunities to participate in discussions and contribute to the direction of future projects. Additionally, $HYPEB tokens can be staked to earn interest and rewards.
Hypebears is also exploring collaborations with luxury fashion and apparel brands to expand the NFT art beyond digital, into fashion, technology, and toys. Hypebear holders can expect limited-edition merchandise beginning in March/April 2022.