The bear market is the time where the majority of projects depreciate in value, and eventually die. Many NFT projects’ revenue generation model depends on royalties, in other words, secondary market sales. As the ‘winter’ sets in, people (degens) run for the hills, meaning that daily user and overall sales volume dries up. Subsequently, founding teams budgets run dry and they are left with no choice other than to ‘throw in the towel’.
Now, notice how I stated “the majority” in the first sentence. There are a very select few projects that are able to defy the rules of the bear market, and continue to flourish. One project that has been on a ‘skyrocket-like’ run up this last week is called Killabears.
A little over a week ago, Killabears tokens were being traded at the 1.5 ETH range, which is still impressive given the market sentiment. Fast forward to today (December 5th, 2022) and Killabears are being traded for more than 3 ETH, which is a cool x2 or 100% ROI for those HODLers. Sounds even more impressive, right? Well, the bullish news doesn’t stop there. On November 30th 2022, Killabear #2315 was sold for a staggering 40 ETH. For this amount, you can currently buy 3 Mutant Ape Yacht Club NFTs, 5 Doodles and almost 4 Azuki tokens. Learning this, you’re probably curious about what Killabears is?
What Is Killabears?
Killabears is a profile picture NFT collection which consists of 3,333 animated bears. The art and the collection is by Mexican artist Memo Angeles and mobile game studio Umbrella Games. Its holders can participate in exclusive events, such as NFT claims, raffles, giveaways, and much more. Killabears started as a free-to-mint project and it launched earlier this year in April, and it has been climbing ever since.
The Killabears team is dedicated to providing value to its holders in many ways. Their background in gaming uniquely positions them to be able to deliver ongoing fun and entertaining experiences while building the core business. Its ecosystem expands further than just the Killabears collection. It has a multi-layer staking system, which consists of chapter 1 (Stake-cation) and chapter 2 (The Killalabs Experiment). Full details about Killabears staking can be found on its website.
Additionally, it has many sub-collections that fall under its ‘umbrella’. These collections are Killabits, Killapasses, Killabears XL, Kilton Hotel, KillaLabs, Killagear, Killatraits, and Soulbound Kilton Rewards. This all clearly demonstrates that there is more than meets the eye in this project.
Why Is Killabears Pumping?
After doing a ton of digging, there doesn’t seem to be an exact catalyst which sparked the recent spike. However, I discovered a number of factors which are mentioned over and over again which make people bullish on Killabears.
#1 Quality Founding Team
The team has demonstrated their serious intentions and their ability to execute time and time again. Even though the project was free-to-mint, it showcased its skill with this top-tier promotional video which dropped shortly after mint. This promo is Hollywood standard, which certainly grabbed the attention of many.
Do we have your attention yet? @killabearsnft pic.twitter.com/JHfNI7N0eo
— KILLABEARS 🐻 (@killabearsnft) May 27, 2022
#2 Upgraded Announcements
While every other project makes announcements through writing Twitter and Discord posts, Killabears has always gone the extra mile. In this example, Killabears showcase their uniqueness by informing and updating its community through a video, with spoken and visual aids.
KillaVerse Citizens - we need your help!
— KillaLabs Research (@killalabs) August 7, 2022
Please watch this important message from KillaLabs CEO - J. Andrew Bearington for details.
We will see you - at #KillaLabs!@killabearsnft #SaveTheKillaverse pic.twitter.com/AQhifTa0AP
#3 Innovative Storytelling
We all know that storytelling and lore perform well in the NFT space. Well, just like everything else, Killabears has taken it to the next level. Its staking and storytelling include metadata that changes every 24 hours. This simply shows higher commitment from a team with an impressive attention to detail and commitment to brand-building.
#4 Excellent Rewards
Unlike many other projects which only give native governance tokens or other useless rewards, Killabear provides rewards which makes staking actually worthwhile. The rewards available are fun and fit seamlessly into its ongoing story.
Physical merch, real life toys/goods, and curated news reports are just some other reasons to be bullish on Killabears. It all really boils down to the team being a powerhouse and the project being built differently. The founders are not simply building an NFT project, but a complex network and ecosystem which could potentially lead the next generation of entertainment brands. Its team members back themselves, they love what they are building, as well as their holders, and the community is 100% behind them. Afterall, the value of a project is first determined by its community consensus, before the market consensus.
Recently, many holders of ‘blue chip’ collections have liquidated their digital assets to buy into the Killabears collection. One degen stated that they “finally joined the Killabears fam by fire selling my mutant and sweeping 3 bears,” and others have said the same. Could Killabears be the next ‘blue chip’? It’s impossible to say now, but all the green flags are there.
