Morning Minute | April Is For Airdrops

 Morning Minute | April Is For Airdrops

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๐ŸŽ Airdrop April Is Just Getting Started

We used to pray for times like this.

At least back in the brutal bear market of 2023.

Now free money is raining from the sky on a near daily basis, and it doesn't seem to be slowing down.

What Happened?

Yesterday was a marquee day for airdrops.

  • The Tensor $TNSR claim went live around 11 am ET
  • Another surprise airdrop was announced for tomorrow from Kreatorhood
  • NFTfi released their tokenomics ahead of an April claim.

$KHOOD and $NFTFI now add to a list of confirmed airdrops for this month which includes $FRIEND, $KMNO, $ARCADE, $SAGA, $GAM3S, $NIM and potentially a few others ($PRCL, $ARENA).

Airdrop April is living up to its name.

Tensor Airdrop Lands With Mixed Reactions

You know it's a bull market when people are complaining about free money.

That's what happened yesterday after many who held Tensorians were disappointed with the $TNSR allotments given to NFT holders vs traders (farmers).

This led to a 50% sell-off on the Tensorian NFTs, now at 20 SOL (down over 80% from peak).

The $TNSR token itself did pretty well, opening at $1.40, briefly spiking over $2 before settling in the $1.70-$1.80 range for most of the day (now $1.87).

That equates to a whopping $1.87B FDV.

Not bad for a protocol which is 5th in weekly NFT volume (4th on the month) and holds just a 7% market share.

To be fair, reactions from those who had lower expectations were much more positive. It was just the loud minority who stood out on the timeline.

Now we wait to see where the rotation goes, and early indicators are that NFTs are a winner (Sol NFT volume spiked 150% on the day).

KreatorHood Announces $KHOOD for April 10

Kreatorhood is ready for launch!

The team announced their TGE for April 10, along with the fact that they've raised $7M+ and have a laundry list of advisors including OSF, Mando, Pranksy, Wiz of Soho and more.

While not formally spelled out, rumors are swirling that the airdrop will include:

  • Activity on the platform (KHOOD points)
  • Historical ETH NFT volume/activity

Future tokens will be earned by using the Kreatorhood marketplace.

Given the team's raise and pedigree, this could be a surprise winner for lucky airdrop recipients tomorrow.

NFTfi Releases Tokenomics

The NFTfi Foundation made a major announcement yesterday, releasing the tokenomics and upcoming plans for the foundation.

Here's the TLDR:

  • Ticker: NFTFI
  • Chain: ETH
  • Supply: 2B
  • Initial Circulating: 220M
  • Claim date: April 2024 (TBD)*
  • Token allocations: 25% to community, 23.3% foundation, 35% backers and supporters, 16% core contributors
  • Points for OG & Season 1-3 noted below
  • Incentives to stake and hold tokens for more Season 3 points

*TGE occurred on March 19th but the token is not transferable yet

Here's the breakdown of tokens for each Season:

  • OG: 40M tokens
  • Season 1: 80M
  • Season 2: 20M
  • Season 3: 30M

So there will be an additional 30M up for grabs during the initial claim and post-claim window.

Initial reactions - these seem like pretty good tokenomics for NFTfi users. The supporters and team get a healthy chunk, but most do not unlock at the TGE.

The open detail right now is if the tokens will be transferable at the claim or if there will be a lock up (like Arcade did).

We will find out soon...

๐Ÿšš What else is happening in NFTs?

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

  • Bitcoin led NFT trading volume with $19.2M on the day (+6%); ETH was next with $10.5M (+18%) and then Solana with $10.4M (+150%)
  • Runestone led volume on the BTC NFT board with 128 BTC volume and jumped to 0.081 BTC; Rune Pups were next, soaring 40% to 0.084
  • Bitcoin Puppets reached a new ATH at 0.412 BTC ($29.1k) as the $PUPS token soared to $36 overnight ($288M market cap)
  • ETH NFT leaders were mixed with BAYC +8% to 12.45 but Pudgy -5% to 11.75, Milady -10% 
  • Kanpai Pandas led notable top movers, jumping 27% to 2.3 ETH
  • Solana NFTs were very mixed after the $TNSR airdrop; Mad Lads evem at 121 SOL, Tensorians -50% at 21, Magic Ticket +20% and Kanpai +20%
  • Magic Eden rolled out support for Pre-Runes on its Bitcoin marketplace, identifying each of the projects which will have Runes tokens
  • Animoca Brands is partnering with Imaginary Ones to help with tokenomics and building "an inventive airdrop campaign"
  • Parallel announced Parallel League, a global tournament series with $500,000 in prizes

๐Ÿ’ฐ Token, Airdrop & Points Tracker

Here's a rundown of major token or airdrop news from the day:

๐ŸŒŽ Around Crypto and Web3

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

  • Crypto majors are red this morning; BTC -2% at $70,800; ETH even at $3,630; SOL -3.5% at $176
  • Memecoin majors were mostly red after an evening sell off; WIF -3% at $3.99, PEPE -4.5%, BODEN +3%
  • Solana memes were nearly all red as congestion in the network has made trading nearly unbearable
  • Ethena introduced Season 2, where users who lock $ENA at a minimum of 50% of their total USDe holdings will receive 50% increase in their rewards & the highest number of rewards per day of any pool
  • WIF Perps launched on Gemini Derivatives on Monday
  • 1inch is launching a crypto debit card in partnership with Baanx, powered by Mastercard
  • Ritual Net closed a strategic investment round with Polychain AI to accelerate decentralized AI
  • Illuvium partnered with Samsung to bridge the Digital and Physical Worlds

๐Ÿš€ Memecoin Movers (new section!)

  • $BORED (+100%, $29M market cap, Base)
  • $PAC (+64%, $30M mc, Blast)
  • $PUPS (+50%, $287M market cap, Bitcoin)
  • $FRENPET (17%, $71M market cap, Base)
  • $TREMP (+8%, $80M mc, Solana)

๐Ÿ“ˆ NFT Floor Price Increase (ETH)

  • Ethlizards Genesis (66%, 2.99 ETH Floor)
  • Karma (50%, 0.2 ETH)
  • Hape Prime (32%, 0.33 ETH)
  • Kanpai Pandas (26%, 2.3 ETH)
  • loomlock (26%, 0.57 ETH)

๐Ÿ—“ Upcoming NFT Mints and Reveals

Today is another busy day for token drops and new mints.

Both $SAGA and $GAM3S get airdropped (or claims open) this morning.

Blast Runners launches on Base (room for NFT demand) and Artifakt comes for Bitcoin.

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

  • $SAGA (4:00 a.m. ET)
  • $GAM3S (6:00 a.m. ET)
  • Blast Runners (7:00 a.m. ET)
  • Sheipi - The Cabal (10:00 a.m. ET)
  • Noderunners (12:00 p.m. ET)
  • Medusa - Artifakt (3:00 p.m. ET)

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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.