Morning Minute | Crypto Debit Cards Are Here

GM!

Take a minute to catch up on the latest in the Web3 space with today's NFT market analysis, top movers, and upcoming mints.

TylerD's Market Summary

It's about to get a whole lot easier to spend your crypto. Find out why, plus catch up on a major day in the digital art world.

💸 Gnosis Launches Gnosis Pay and Card

Have you ever wished you could spend your crypto in a store or at a restaurant/bar when in a pinch? Or to celebrate a great trade?

Well, soon you might be able to.

Enter Gnosis and their two major products Gnosis Pay and the Gnosis Card.

What Is It?

Gnosis's mission is to unlock the future of finance, and they're well on the way to doing that with their 2 new products:

• Gnosis Pay: A decentralized payment network allowing web3 developers to incorporate traditional payment systems, including Visa, into their platforms
• Gnosis Card: The world's first Visa-certified, self-custodial debit card that links directly to an on-chain wallet instead of a traditional bank account

Gnosis Pay allows users to spend their crypto anywhere Visa is accepted and uses smart wallet technology from Safe for Visa Debit functionality.

To manage their transaction volumes, Gnosis Pay uses a custom L2 on their native Gnosis chain.

Why Does It Matter?

While we've seen web3 developers and companies incorporate credit card payments before in a credit-for-crypto model, this is the first time we've seen the opposite.

Being able to spend crypto in the real world anywhere Visa is accepted is a gamechanger for crypto natives.

Historically it's been very difficult to actually use crypto as money in the real world. Ad this has been largely ok as many view their crypto as investment or speculative assets versus currency.

But for crypto to go mainstream and unlock its currency use case, we have to be able to spend it.

And it seems like Gnosis is trying to make that happen.

I know I personally would have loved a Visa Debit card tied to my wallet during the 2021 peak bull run (though I probably would've gotten into some trouble).

Pending hurdles to get the card and security concerns, this seems like a no-brainer to adopt for those deep in crypto. And there are certainly ways to manage a debit card access point along with a general wallet security strategy (i.e. don't connect it to your cold wallet).

Read more about this innovative product at Gnosis's site.

🖼 Prohibition Launches Today

Art Blocks new Arbitrum extension "Prohibition" is launching today on Arbitrum, set to change the generative art world.

The idea behind Prohibition is to create an open generative art platform, powered by the Art Blocks Engine, with much fewer barriers to entry.

Think - no curation board, no allowlists, and very low fees thanks to it being on Arbitrum.

"Generative art for everyone."

Lower fees on Arbitrum allow artists to use more complex code and heavier scripts, potentially creating crazier and deeper outputs. And the lower mint fees are also a boon for collectors, with the potential for wider onboarding.

Launch Lineup

Founder Jordan Lyall has lined up a major set of artists and mints to kick things off on the new platform.

Starting today July 18th, 11 drops are planned:

• Monospatial by Emily Edelman
• Beauty Supply Is Out of Du-Rags by Ed Balloon
• Necromancer by Uncut Hems
• Afterimage by Loren Bednar
• Magline by Rosen Lykke
• Melt Into You by Yung Wknd
• The Distance In Between by I Am Fesq
• All our Faces by Jimena Buena Vida
• CodeTrip by Paradoxx Media
• Trees of Eufloria by Silly Tuna
• Infinite Branches by Dav

That's a big list of launch artists.

Given collectors' desire to collect the first and early mints from new platforms, expect some major demand on these early launches.

Over time we will see how this additional generative art supply impacts a digital art market in a fairly deep bear trend (outside of the top collections), but infrastructure for cheaper and more widely accessible art is definitely a positive.

🚚 What else is happening in NFTs?

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

• Trading volume came in around 9k ETH on Monday after a very low 5k ETH on Saturday; the NFT board was mostly red with more green from Opepen and Ether
• Opepen mania spread on Monday as several major marketplaces (OpenSea, Magic Eden) and brands shared Opepen versions of their PFPs, leading Beeple to memorialize Opepens again in his Everyday (floor up 10% to 0.81 ETH)
• Garbage Friends opened their mint and saw nearly half of their 5,300 available NFTs minted so far at 0.05 ETH; secondary is holding at 0.15 ETH this morning
• The Nouns DAO proposal for a Pudgy Penguins/Nouns crossover collectible requesting 10 ETH passed with 205 "For" votes
• Kanpai Pandas announced the launch of D+RIP, a new initiative that blends physical items with a digital brand experience using NFC chips and QR codes to create interactive experiences
• Magic Eden partnered with Elixir NFT to roll out CreatorX, a self-service NFT creation and distribution platform optimized for artists, featuring low-fee mits, an airdrop tool, freeze support and more
• Fingerprint DAO is transitioning to an NFT membership format vs traditional DAO, with the artist of their NFT announced as Larva Labs
• DraftKings announced a live keynote panel on July 24th to preview season 2 of NFL Reignmakers
• Rollbit bought a gold Pudgy Penguin as a prize for its casino for 69 ETH in what was the 5th highest all-time Pudgy sale and highest ever gold sale; the floor was 18 ETH for a gold at the time, and the winner of the Pudgy already listed it for 42.69 ETH
• Knights of Degen announced a completed snapshot for their $DGEN token with claims expected to open July 31; they're hosting s spaces tonight to talk through the details

🌎 Around Crypto and Web3

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

• The crypto market fell slightly on Monday; BTC -1% to $30,020; ETH even at $1,904
• Lens Protocol, the decentralized social media platform, announced the release of Lens V2 promising greater control to users and developers alongside new capabilities like deeper smart contract integration, a "Collective Value Share" rewards model, new profile manager and more
• The Starbucks Odyssey x Aku Dreams journey went live yesterday, open through Aug 13

🚀 NFT Total Volume

• Azuki (1,495 ETH, 5.65 ETH Floor)
• BAYC (1,402 ETH, 32.57 ETH)
• MAYC (1,360 ETH, 5.95 ETH)
• DeGods (1,024 ETH, 8.69 ETH)
• Opepen (611 ETH, 0.81 ETH)

📈 NFT Floor Price Increase

• Ether Avatar (44%, 0.28 ETH Floor)
• QQL Mint Pass (39%, 8.34 ETH)
• Ether Capsule (31%, 0.44 ETH)
• Checks - VV Editions (18%, 0.64 ETH)
• Checks - Originals (16%, 0.44 ETH)

🗓 Upcoming NFT Mints and Reveals

Today is a huge day for art NFTs.

Christie's on-chain auctions with Gucci "Future Frequencies" go live today, bringing together art, fashion and tech with notable artists featuring Tyler Hobbs, Emily Xie, Claire Silver, Botto and several more.

Then Prohibition launches this afternoon (described above) with their inaugural mint "Monospatial" from Emily Edelman. With just 100 supply at 0.05 ETH, expect big demand for this one.

And finally, several Art Blocks and other digital art auctions will be ending on Sotheby's today with many seemingly sneaking under the radar so far.

If you want more, see the full list of today's drops from Swizzy's daily mint monitor. 

• Christie's x Gucci - Future Frequencies (10:00 a.m. ET)
• Prohibition "Monospatial" (3:00 p.m. ET)
• RSTLSS The Cube (3:00 p.m. ET)
• Sotheby's auctions - final day (TBD)

Enjoy this write-up? Follow along with me on Twitter @tyler_did_it or reach out via email tyler.warner@luckytrader.com.

For all volume and floor price data, see Lucky Trader's Project Rankings page.

For all upcoming mints, see Lucky Trader's NFT Calendar page.