Morning Minute | A $40M Airdrop for NFT Creators

 Morning Minute | A $40M Airdrop for NFT Creators

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๐ŸŽ Optimism Shares $40M with NFT Creators

It truly is airdrop SZN right now.

And many different groups are winning.

This time - it's NFT creators, founders and artists.

What Happened?

Yesterday, Optimism launched its Airdrop 4 "rewarding superchain creators."

The airdrop includes 10.3M $OP (worth ~$40M), which will be rewarded to 23,000 wallets.

The primary airdrop criteria:

  • NFT creators on the Superchain (OP, Base, Zora) or on ETH
  • Amount was based on gas spent on transfers of those NFTs (i.e. demand)
  • Bonuses applied to early creators, active and popular creators, and WLTA participants

Optimism has now airdropped 256M tokens worth nearly $1B to users across its 4 airdrops.

If you think you qualified, check here to claim your tokens.

Why It Matters

For various blockchains and L2s to success, they need creators.

There needs to be something to do on these chains. Products that people want.

Rewarding farmers has been a primary mechanism for many chains and protocols, but unfortunately, most farmers are value extractors. They trade time, energy and sometimes money for tokens - then sell and move on.

Founders and creators are value providers (of course there are bad apples and ruggers, a topic for another time).

Providing stickiness for them to continue creating on your chain/L2 makes sense.

Blast is doing similar with its developer incentives for its first airdrop.

Expect more of this to come. And congrats to those who received the airdrop!

๐Ÿ’ธ Airdrop SZN Across Chains

The driver of this next NFT cycle may very well be airdrops to targeted communities and holders.

Just from the past day (links in next section below):

  • Sappy Seals pump 40% to 1.7 ETH after rumors of a raise and more token airdrops coming
  • RSIC Booster holders on Bitcoin get airdropped Rune Mania NFTs, trading over $1,000
  • Wormhole's $W token trades at $1.60, should be allocated to Mad Lads, DeGods, y00ts and more
  • Arcade is running a token claim for various NFT communities across ETH, BTC and SOL for its $ARCD (claim today)

The argument for protocols and projects to airdrop to NFT communities is the built-in marketing arm and potential "diamand-handed" holders.

I'm not so sure on the latter, but the former definitely makes sense.

NFT holders love to brag about their gains on X, and sharing screenshots of airdrops received is a celebrated past time in this space.

It seems the meta going forward will be for traders to buy up NFT sets that are the most likely to get airdrops.

They are effectively staking ETH with NFT projects for potential yield.

Sadly for art NFT maxis, none of those high-profile collections have been targeted. Yet.

๐Ÿšš What else is happening in NFTs?

Here is the list of other notable headlines from the day in NFTs:

๐Ÿ’ฐ Token, Airdrop & Points Tracker

Introducing a brand new section, highlighting any major token or airdrop news from the day.

๐ŸŒŽ Around Crypto and Web3

A few other Crypto and Web3 headlines that caught my eye:

๐Ÿš€ NFT Total Volume (ETH)

  • Moonbirds (1,459 ETH, 2.09 ETH Floor)
  • BAYC (927 ETH, 21.9 ETH)
  • Pudgy Penguins (612 ETH, 20.27 ETH)
  • MAYC (534 ETH, 3.89 ETH)
  • Milady (346 ETH, 2.35 ETH)

๐Ÿ“ˆ NFT Floor Price Increase (ETH)

  • Sappy Seals (48%, 1.7 ETH Floor)
  • Auntieverse (39%, 0.32 ETH)
  • Chimpers (21%, 0.58 ETH)
  • Imaginary Ones (15%, 1.37 ETH)
  • Meebits (13%, 1.38 ETH)

๐Ÿ—“ Upcoming NFT Mints and Reveals

Today is a busy day of drops spanning memes, art, pokemon cards, token claims and Ordinals.

See the full list and dive in for more details with Swizzy's daily mint monitor

  • Memes by 6529 (11:00 a.m. ET)
  • makio's "Faster Than Light" (11:30 a.m. ET)
  • Courtyard x Floor - Gotta Catch em all (12:00 p.m. ET)
  • $ARCD claim (1:00 p.m. ET)
  • Kjetil Golid x Verse - Monument (1:00 p.m. ET)
  • Frank (6:00 p.m. ET)

Enjoy this write-up and/or want to sponsor the Morning Minute? Follow along with me on Twitter @tyler_did_it or reach out via email tyler.warner@luckytrader.com

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice. AI may have assisted in the creation of this content.