NFT: Fancy Bears
A Review of the Fancy Bears NFT
If you are reading this on your email please instead view it on substack, emails cut the length short due to size limitations
Disclaimer: I currently hold an FBM NFTs (I am biased) so please keep that in mind when considering whether to buy or not.
The goal of this article: This article’s goal isn’t to convince you to buy or not to buy. Its goal is to summarize my research and provide links for you to do your own should the project interest you. It is designed to save you time with your initial research by presenting my overall research as a starting point for your own.
Note to Project Owners: If I have stated anything inaccurately please reach out, I would be more than happy to meet and fix mistakes
Table of Contents
Research Links
Projects Purpose
What you get
Honey Token
The Team
What is Fanadise?
Who is the Team for Fanadise
Partners
Published Road Maps
General Thoughts
Research Links
https://www.fancybearsmetaverse.com/
https://fanadise.com
https://fanadise.com/tokenomics
https://fanadise.medium.com/
https://fanadise.medium.com/fanadise-is-launching-the-fancy-bears-metaverse-dcb7040056af
https://fanadise.medium.com/honey-is-the-dawn-of-the-nft-2-0-era-whats-next-for-the-fancy-bears-7e176e6d86d5
https://fanadise.medium.com/honey-tokenomics-28c49ebf3924
https://fanadise.medium.com/how-to-buy-a-fancy-bear-on-opensea-e4e8204b3b47
https://fanadise.medium.com/why-the-success-of-fancy-bears-is-the-success-of-fanadise-7856d6e0b4ba
https://cointelegraph.com/news/project-allows-members-to-meet-their-idols-in-metaverse-by-holding-unique-nfts
Voting via governance
https://www.fancybearsmetaverse.com/dao
https://snapshot.org/#/fancybearsdao.eth
https://youtu.be/VG3_xO3Vnmw
https://app.fancybearsmetaverse.com/
https://dune.xyz/tommyblock/Fancy-Bears-Overview
https://opensea.io/collection/fancybearsmetaverseofficial
https://opensea.io/collection/fancyhoneyjars
https://twitter.com/FancyBearsMeta
https://www.instagram.com/fancybearsmetaverse/
https://www.linkedin.com/company/fancy-bears-metaverse/about/
https://etherscan.io/address/0x87084ec881d5a15c918057f326790db177d218f2
https://looksrare.org/collections/0x87084ec881d5A15C918057F326790dB177D218F2
https://raritysniper.com/fancybears-metaverse
https://vm.tiktok.com/ZMLdu3buE/
https://mrgugu.com/collection/fancy-bears-metaverse
https://ukraine.fancybearsmetaverse.com/
Projects Purpose
At its core, FBM (Fancy Bears Metaverse) is a PFP (Profile Picture) based project which gives you access to a club similar to BAYC (Bored Ape Yacht Club). FBM focuses specifically on connecting Influencers from different areas with each other as well as with their fans.
The Fancy Bears Metaverse, created by Fanadise, will be dedicated to social media, celebrities and entertainment only — and to lots of bears, of course! Fancy Bears will provide the community and subscribers of Fanadise more ways of interacting with their idols in ways not possible before.
You will be able to get exclusive access to artists, top athletes, influencers, celebrities and Nobel prize winners who participate in the club. You’ll be able to attend events such as concerts, parties and festivals with your favourite celebs, all within the Metaverse.
As it is a social club there are also events such as meet-ups and raffles (April 30th they plan to raffle off a Ferrari to Fancy Bear NFT holders).
On April 30th, one of our holders will win a Ferrari 🏎️
The lottery will be conducted together with @chainlink!
1 Bear counts as 1 ticket so the more Bears the bigger your chance of winning! 😉
We're also giving away cash, sneakers, and more 🚀🚀
There is also a token for the project called $honey as well as another NFT called Honey Jars.
The Honey Jar NFT, Honey Token, & FBM projects have all already been minted although 1000 of the FBM NFTs have not yet been released as they plan to give some of them to influencers in different spaces & to brands.
500 NFTs will be reserved for fancy celebrities, athletes
260 reserved for fancy brands
40 reserved for fancy team bears
200 reserved for $KARMA holders
7888 reserved for Fancy Bear Club members
It is being made by the same founders that have founded the Fanadise platform which they plan to integrate with FBM as well as several other products/services they are developing.
Fancy Bears Metaverse is a Fanadise project, which means that Fanadise owns, operates and benefits from everything that happened in the past weeks. Revenue that we generated through sales is the revenue of Fanadise. FBM became another part of Fanadise Metaverse that we’re building. Royalties from OpenSea will go to Fanadise vaults as well. In the following weeks you will see how we plan to bind FBM with Fanadise and $FAN token to create a unified ecosystem for different kinds of NFTs, where $FAN tokens will be used as a universal currency for every product that we’re going to build, ever.
As FBM is their first NFT project I expect it to take on other roles as this ecosystem expands. It is hosted on the Ethereum network as are the other projects mentioned in this article.
What you get
If you purchase an FBM profile picture NFT (Only the bears not the Honey Jars or $honey tokens) you get access to project airdrops (previously they gave out Honey Jars & the $honey token), & more. A full list includes:
You will be able to get exclusive access to artists, top athletes, influencers, celebrities and Nobel prize winners who participate in the club. You’ll be able to attend events such as concerts, parties and festivals with your favourite celebs, all within the Metaverse.
Giveaways, Merch, & Raffles
Twice year we will host a Fancy Bears Annual Party, where holders of the NFTs will be eligible to a Ferrari, yacht and many other amazing rewards we are yet to share with you.
We plan to throw more than one rewards days per year.
Special Bear Swag — a shirt with your Bear (to be shipped after 3 months, and after 6 months for hoodies)
Starting from March 2022 we will reward holders with Ferrari and numbers of other benefits including holidays, sneakers, collectibles and cash — we will be doing this on an annual basis!
An entry in the annual reward fund
In-person Meetups
Real life events — we will be organising many meet-ups and parties with celebrities throughout the year — a perfect way to grow your network and make meaningful connections outside the Metaverse
The ability to 3D scan yourself & access to their metaverse when available
The rest of funds will be used for development so that, with the use of Fanadise 3D scanner, we can take all of our members to the metaverse. Fanadise is already developing it’s own 3D Scanner to move not only influencers, but also all the Bears into the Metaverse.
Access to the Metaverse club and Metaverse land
Ownership
Full commercial usage rights over your NFT. You’re the sole owner of the artwork.
Governance over the project
Governance — have your say in the Club and claim your place in an exclusive Metaverse society!
An animated series
Access to Fanadise
What is fanadise: The Fancy Bears Club is powered by Fanadise, the first Metaverse dedicated to social media, celebrities and entertainment only. Fancy Bears give you access to every community existing inside the world of Fanadise, where you can interact with your idols in ways not possible before. Learn more at www.fanadise.com
There are also benefits in terms of better staking rewards for Honey although the finer details on how have not yet been released.
Honey Token
The $honey token is the currency used for FBM related follow up projects & new traits. It can be staked to earn more, sold to other people for money, or used to upgrade your Fancy Bear by buying new traits.
Initially, they were airdropped to Bear NFT holders and Honey jar NFT holders
Every Bear will allow you to claim 142 000 $HONEY tokens equal to 1420 USD (listing price) or around 0,46 ETH. Every Jar will get you 71 000 $HONEY tokens, equivalent to 710 USD or about 0,24 ETH.
We’re going to airdrop the token (you’ll have to claim it) and every Bear and every Honey Jar will carry a set amount of $HONEY. The distribution of Honey Jars will be the same as we already announced.
They are listing Honey at $.01 per coin
We will add liquidity and list the token on Uniswap this month. 50% tokens will be distributed to the Bears and Jars, 5% will go for liquidity, partners, and reserve, and 45% will be farmable in the future. We won’t be pre-selling any tokens. The listing price of $HONEY will be 0.01$.
They have decided to keep Honey within the ecosystem for now by locking it as staked for the first 6 months.
We have also set some specific rules for the unlock. You’ll be able to unstake your first $HONEY tokens 6 months after you claim the Honey Jars. The total unlock period afterward will last for the next 18 months. $HONEY tokens will be available for claiming proportionally, every single week.
This is an interesting mechanic where they are initially treating it like an in-game currency that isn’t able to be converted back to cash. I assume they are going this route in the hopes that it will prevent an initial sell-off (most tokens deal with this when they are first air dropped) due to people immediately selling as soon as the token is distributed. By releasing the token in this manner they allow people to use them & potentially avoid the sell-off by showing people there is already demand. Some people having already staked the token as it’s released overtime should also help prevent this.
That’s when it comes to cashing $HONEY directly into your wallet. In the meantime, you’re going to be allowed to use it (that is: the staked $HONEY) in all the ways we specified in the original article:
A. You will be allowed to modify the look of your Fancy Bear.
B. We will create some new features.
C. New Bear-related NFT collections.
D. Main role in the animation series for your Bear so he can become a Bearflix star.
E. One of a kind customized clothes and shoes.
The above quotes were taken from the roadmap with Honey having already been claimed by FBM holders & traits now becoming available to swap.
In terms of tokenomics Honey is the currency for everything FBM
$HONEY is a tradable, deflationary, utility, Fancy Bears Metaverse native, Ethereum Mainnet ERC20 token. It will be used and distributed among the Fancy Bears community, but it will thrive inside the whole NFT world. Fancy Bears community is the first to get access to it.
It gives proper incentive to all early adopters of Fancy Bears NFT, plays role in the governance process, let us create a permisionless access to technology and unifies the economics of NFT 2.0.
They aim to make it so that you need to spend Honey in order to earn more as each bear has a limited capacity to hold Honey
Bear Levels will be strongly connected to the $HONEY farming system. They will be related to the farming speed and capacity to carry harvested $HONEY. This is also where Honey Jars will play an important role. But that’s not everything, more benefits related to the Bear levels will be announced in the future.
What we know for certain though is: the more $HONEY you spend, the more $HONEY you get afterward. $HONEY will increase the value of your Fancy Bear and allow you to improve it even more with the $HONEY you’re going to harvest.
Recently they posted this FAQ regarding $Honey & how it is used to purchase traits on their discord server:
I need to pay gas fee?
You pay for the traits in honey, but we're on ethereum blockchain so every interaction with the blockchain uses gas -> eth
How to claim $HONEY
HONEY tokens are airdropped to the vesting contract, where there is a 6-month cliff, and then an 18-month token unlock period, during which you can make a claim.
Do I need a jar to get $HONEY?
Bears still have honey in it but you could also buy a jar from secondary market.
Be careful though when buying the jars or bears. Crosscheck properly as some people have started to spend the honey contained in bears and jars.
I got whitelisted for a trait
Those traits are not on the trait swap app yet but they will be added soon.
Breakdown of $HONEY spent for LV 2 and LV 3
213K for LV 2
497k for LV 3
What are the benefits of leveling up your bear and what are rules of levelling up?
When you level up your Bear, your bear will be able to harvest and carry more Honey once the Honey Harvesting system is ready. So basically the more Honey you spend, the more Honey you get in future!
It also allows you to stake SUPER RARE traits.
What are the traits LVL's for?
Some traits are SUPER RARE and thus not available for every Bear. One you level up you'll be able to put them on, no worries!
On which DEX HONEY will be listed?
$Honey token will be listed on Uniswap on 8th April
How does swapping traits affects the rarity system?
Swapping traits doesn't affect the original rarity system at all. Your Bear, underneath the traits, is still the same Bear.
How many different outfits or traits can a single Bear have? Is there a limitation? Not just in one transaction. But could a Bear potentially have an outfit for everyday if he/she wishes?
Sure, you can change outfits every day! There are no limits in the wardrobe.
The Team
The Co-founders of FBM are Bartek Sibiga & Jakub Chmielniak who both hold Bored Apes & Mutant Apes as well as co-founded Fanadise (more on that later).
Bartek’s Social Media Links
Outside the Crypto space Bartek has created a company called DDOB (Daily Dose of Beauty: website link). It is an influencer-based marketing agency and he founded it over 6 years ago. This is great to see as it shows he has experience running a business. It’s an added bonus that there is overlap between DDOB’s goals (Marketing, Influencers), Fanadise’s goals, & FBM’s goals. This should help the projects to see synergy and mutually help each other to grow. Outside of his business pursuits it can be seen he enjoys Skiing from his Instagram Bio:
Extreme sports ⛷🚵
Polish champion in freesking 1x🥇
Jakub’s Social Media Links
Jakub became a co-owner of DDOB just under 2 years ago but he has experience going further back than that launching an impressive amount of companies between now and 2011. Excluding Fanadise, FBM, & DDOB he has founded or owns 7 businesses. Feel free to check out his Linkedin for more information but a brief snapshot is that they range from clothing lines to a social e-commerce app to a digital clothing store (Full list here). I also expect this experience in developing companies to help Jakub make the right decisions for FBM & Fanadise. The focus on branding, clothes, & marketing should further improve all of these project’s growth as well
FBM NFT Advisors
Keep reading with a 7-day free trial
Subscribe to Riding The Wave to keep reading this post and get 7 days of free access to the full post archives.