Hypebears NFT
Updated February 01, 2022

Hypebears NFT: The First Looping Project to Mint?

Cryptocurrency

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Want to be the first person to mint a looping NFT?

Hypebears NFT is a collection of 10,000 bears living on the Ethereum blockchain, launching on February 2nd, 2022

Each NFT is a looping sequence gif, showing the Hypebears in action. 

So are these Hypebears trying to steal Invisible Friends’ thunder, or are they the real deal?

Let’s find out!

Who’s Behind Hypebears

@jpegenthusiast is the founder of Hype bears.

He doesn’t reveal his true identity on his Twitter, but he does use his name, Ernest, for Discord. So until there’s more information confirming who he is, I’ll have to consider him un-doxxed.

If you visit his Twitter, you’ll find a Doodle as the PFP, a Neo Tokyo citizen in his portfolio, and that he’s made seven figures in the NFT market in six months.

The account mentions BAYC, but it’s no longer in his NFT portfolio. So he might’ve sold an Ape for the significant gain. 

If you are involved in blue chips like BAYC, Neo Tokyo, and Doodles, you clearly know what you’re doing.

@TheRickk and @xy_square help manage the community in Discord. 

The artist behind the project is Yura Eltsov. Unfortunately, he’s the only one that’s completely doxxed. 

Yura is a 3-D illustrator and crypto enthusiast, so it’s no surprise he’s creating an NFT project. 

If you check out Yura’s art portfolio, you’ll find he used to work on website designs but recently has focused more on NFTs. 

HypeBears NFT Artist

Is the Art Good?

I’m not going to lie, we haven’t even seen a looping NFT drop yet, and I’m already getting tired of the trend. 

Invisible Friends started it, and now Imaginary Ones and Hypebears are following suit.

I expect more looping projects to come out because it allows people to see what their NFT will look like walking around.

What Hypebears did to differentiate themselves is by making different movements, not just walking.

Some Hypebears are dancing; salsa, anyone?

I like the art; it has a Lego, almost Hapebeast-style. 

I think it’s perfect for the Metaverse and makes each bear seem more customizable. 

They haven’t announced the exact number of attributes, but their Twitter and Instagram pictures have good diversity.

How Hypebear NFT Works

Hypebears wants to create an exclusive community of NFT holders. 

They claim they are a “blue-chip driven project” and make people pay the blue-chip value in advance with an absurdly high mint price of 0.4 ETH. 

It seems like they plan to create a high-profile community by pricing people out of the project early.

Honestly, I liked the project, but now with a 0.4 ETH mint price, it’s starting to feel a bit cash grabby to me.

Let’s dive deeper to see if their future plans justify their claims.

Want to Make Money With NFTs?

Degen Den is the brand-new exclusive NFT community that I founded.

In this community, you get access to:

• A private Discord community of likeminded NFT profiteers
• Whitelist opportunities to hyped NFT projects
• Early intel on what NFT projects I will be covering on my NFT-focused YouTube channel
• And a lot more!

I'll see you inside!

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Tokenomics

50% of all royalties from Hyperbears go to a vault, and a governance token will be introduced – $HYPEB. 

$HYPEB is the governing token of the Hypebears economy.

Here’s what the royalties will be used for: 

As a Blue-Chip driven project, we would want to associate ourselves with Blue Chips.

 

Royalties will be used to purchase projects such as Doodles, MAYC, WEBB3, WOW and what not. These NFTs will end up in our HYPEBank which can be purchased by holders only.

 

This will ensure that you pay NO curator fees and only a small platform fee! What a huge discount! 50% of all platform fees go back to stakers of $HYPEB ? 

So basically, they’re going to buy blue-chip NFTs (projects they’re invested in) with the royalties and resell them to Hypebear holders. 

Now, one thing that’s maybe slightly disappointing is that no portion of the sales price is going back to $HYPEB holders; instead, holders only get 50% of the platform fee.

They go on to talk about staking NFTs to earn $HYPEB.

A staking UI will be created, everything will be accessible on our website.

I haven’t really been able to review this because the website is not live yet, but perhaps that’s a security measure.

PFP Mint

One thing I don’t like about the looping NFT trend is the fact that you can’t set it as your PFP. 

What Hypebears did to accommodate this was create a PFP version of all minted NFTs. So minters will get a looping NFT and a PFP NFT. 

We all know how hot Profile Pictures (PFPs) are in this space. All holders of #HYPEB will be able to mint a free 1:1 PFP after launch. No extra supply will be created.

I’m not sure if holders will be able to sell the NFTs separately or if they’re a package deal. 

If you can sell them separately and get two separate NFTs, then the mint price of 0.4 ETH might make a little more sense.

Here’s an example of what you can expect from the PFP version of Hypebears.

How to Buy Hypebears NFT 

Hypebears is expected to launch their collection of 10,000 bears on February 2nd for 0.4 ETH. 

If you can afford it, here’s how you can buy the Hypebears NFT.

Whitelist Pre-Sale 

There are 6,000 whitelist spots available, and each whitelist member will be allowed to mint 1 NFT per wallet. 

More than half of the collection will be sold to the whitelist, leaving only 4,000 Hypebears for public sale. 

Thus, making it more important to get on the whitelist for this drop.

How to Get on HypeBears Whitelist

There are a few different ways you can get on the whitelist. First, they want to reward people for engaging and contributing to the community. 

The founder went to Discord to give people ideas of what they’re looking for when considering whitelist members. 

If you don’t want to grind for a whitelist spot but still want a chance, giveaways are your best shot. 

Hypebears are constantly giving out whitelist spots on their Twitter.

Most of the team members tweet out giveaways and contests for whitelist spots, so make sure to follow them too.

If you don’t win a whitelist spot, you’ll have to resort to the lottery of public sale.

Public Sale

Only 4,000 Bears will be available during the public sale on February 22nd

However, the max mint limit increases to 2 per wallet for the public sale. 

Since people can mint more than one per wallet, it’s going to be even more difficult to mint a Hypebear during the public sale.

The mint should be directly on their site, with more information on the topic once the website is live.

Secondary Market

If you aren’t fortunate enough to get on the whitelist or mint one during the public sale, you’ll have to purchase one on the secondary market.

My Strategy

As I mentioned earlier, we’ve seen many of these looping projects, but we’re yet to see one launch.

I think this is extremely smart for Hypebears to launch so soon.

The looping project that drops first will have that first-mover advantage, helping the project hold value long-term.  

A wise man once said:

“If you’re not first, you’re last.”

And judging by their mint date, I think Hype Bears are fans of Ricky Bobby.

If they mint before Invisible Friends, I think they sell out, even at a 0.4 ETH mint price.

If Invisible Friends sneaks in and mints before at a lower price, that could be bad news for Hypebears.

So I think this is a timing play.  Obviously Hypebears has a lot of, well, hype behind it right now, and I think it can do very well in the short run.

I am not whitelisted for it currently, but if I was, I would very likely mint unless something like Invisible Friends mints before and steals it’s thunder in which case I would just pay attention to the secondary market on mint day and see what’s going on there to inform my minting decision.

That’s just my opinion. Feel free to disagree. Let me know your thoughts in the comments, and follow me on Twitter.

Want to Make Money With NFTs?

Degen Den is the brand-new exclusive NFT community that I founded.

In this community, you get access to:

• A private Discord community of likeminded NFT profiteers
• Whitelist opportunities to hyped NFT projects
• Early intel on what NFT projects I will be covering on my NFT-focused YouTube channel
• And a lot more!

I'll see you inside!

5/5 Rating

Author:

Logan Allec, CPA

Logan is a practicing CPA and founder of Choice Tax Relief and Money Done Right. After spending nearly a decade in the corporate world helping big businesses save money, he launched his blog with the goal of helping everyday Americans earn, save, and invest more money. Learn more about Logan.

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thesethingsareugly
thesethingsareugly
3 months ago

Not the first looping NFT by any means…