Morning Minute | Did Snoop Dogg Launch the Perfect Music NFT?

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

Snoop Dogg and Transient Labs just set the blueprint for music NFTs. Find out what they did right, plus get caught up on Fewo's latest collab with adidas.

🐶 Snoop Dogg's Perfect Music NFT

Music NFTs were the laughingstock of 2022.

No one seemed to get it right, and promises greatly outweighed delivery.

But progress has been made recently, with major companies like Ticketmaster and SI Tickets starting to embrace tickets as NFTs (albeit at small scale).

And now, Snoop Dogg is back on the NFT scene in partnership with Transient Labs, with what might be the perfect example of how to launch a mainstream music NFT.

Introducing, the Passport Series.

What is it?

The Passport Series is touted as the first-ever "evolving digital tour collectible," and it is heavily utility-focused.

Snoop's Passport NFT offers:

• Behind-the-scenes content from his tour
• A curated collection of works from select NFT artists (like Coldie and Alien Queen)
• Access to future drops, playlists, merchandise, and tickets to events

All for $42 (0.025 ETH).

The tour content is the "evolving" aspect of the NFT, providing ongoing footage of his summer tour kicking off on July 7.

"Snoop Selects" is the name of the curated collection aspect of the NFT, where holders will be airdropped selected art from major digital artists like Coldie, Terrell Jones and Alien Queen (a very substantial list).

In a statement shared to Variety, Snoop shared the following:

"With the Passport Series, I can give my fans the opportunity to travel the world with me — no one’s ever done that. I’ve always been a pioneer, and digital merch is part of the future. I’m hoping other artists can see what I’m doing and continue to innovate on their own.”

Why It Matters

Each of these pieces of utility (exclusive content, airdrops, token-gated access) have been done before.

But I don't recall seeing them all together in one package. And all for a very reasonable price tag of $42.

As I've digested this NFT package, I've pondered the question "what would a hardcore fan want out of a musician's NFT?"

And this nails it. It's a fairly simple, straightforward package, but it checks all the boxes.

• Exclusive content sharing behind-the-scenes footage from his tour
• Airdropped art from top artists that most likely wouldn't have access to (especially at this price)
• First access to future tickets, merch, playlists, and more

The last bullet there remains the big one, but the other two are very nice bonuses.

Snoop and Transient nailed the concept here, and likely set up a blueprint for future artists to follow when designing NFTs.

Now they just have to deliver.

💧👟 Fewo's Adidas Collab

Artist Fewocious made a major announcement yesterday, that his first collaboration with adidas is launching June 22.

First? That indicates there's more coming.

There have been glimpses of this collab dating back to April and NFT NYC, but no details.

Now we have the information.

The TLDR

Here's the quick summary of the drop:

• What: 4,500 Limited-edition Trefoil Flower Mint Pass 
• Why: The Mint pass is redeemable for both physical and digital adidas sneakers designed by Fewo
• When: June 22 for mint; Aug 23 for redemption
• Where: exclusively on OpenSea (first-come, first-serve)
• How much: starting at 0.2 ETH

The digital sneakers will be usable in upcoming projects from both Fewo and adidas (FewoWorld and ALTS).

While the mint is FCFS, holders of certain NFTs like ALTS by adidas, Fewo Paint Drops and more will receive early access and a discounted mint price.

The price is not cheap at 0.2 ETH ($350) for phygital shoes, but if anyone can pull it off in this market, it's Fewo.

And kudos to adidas on landing this partnership, and adding another notch to their web3 belt. They are doing things right.

🚚 What else is happening in NFTs?

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

• Trading volume jumped back over 16k ETH on Tuesday, while most major NFTs chopped
• Blur's 196M tokens unlock today, representing a 40% boost to the circulating supply ($BLUR was even on the day at $0.32, though down 33% on the month)
• An XCOPY 1/1 "Five Eyes" sold for 137 ETH yesterday in an auction on Tessera, just a few hours after a black and white Fidenza sold for 130 ETH (seemingly to Alexis Ohanian)
• Yuga shared new details for Legends of the Mara, including the impact of the Shattered Attacs, how Voyagers will fight, rewards for winning battles and more
• BoringPunks minted at 0.0099 and ran overnight to a 0.13 ETH floor on major volume
• Doodles Pharrell Pack owners are now able to open them, per an update from the team
• Forgotten Runes Wizard's Cult holders can get a free airdrop for attending the 100th Wizard Wednesday Twitter Space tomorrow.
• PUMA's Black Station, a digital experience revealing new limited-edition shoes, went live yesterday

🌎 Around Crypto and Web3

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

• The crypto market chopped on Tuesday; BTC -0.5% to $26,010; ETH even at $1,750
• The judge overseeing the SEC vs. Binance U.S. did not issue a restraining order freezing Binance's assets on Wednesday, instead telling the parties to negotiate details and provide an update by Thursday
• Uniswap released its Uniswap v4 code, including a "hooks" feature that enables on-chain limit orders, automatic deposits, auto-compounded and lower liquidity provider (LP) fees, and more
• Polygon introduced Polygon 2.0 on Monday as a blueprint for building the Internet's Value Layer; the goal is to create a unified, infinitely scalable network using ZK-powered L2s, and changes in 2.0 also span architecture, tokenomics and governance

🚀 NFT Total Volume

• BAYC (8,947 ETH, 45.51 ETH Floor)
• Wrapped Cryptopunks (1,955 ETH, 50.3 ETH)
• MAYC (1,252 ETH, 9.14 ETH)
• Azuki (984 ETH, 16.55 ETH)
• BoringPunks (772 ETH; 0.13 ETH)

📈 NFT Floor Price Increase

• Boring Punks (1,000%, 0.13 ETH Floor)
• Synthetic Dreams (86%, 2.98 ETH)
• Celestial (66%, 0.28 ETH)
• Genesis Dimensional Stones (44%, 1.6 ETH)
• Distortion Genesis (29%, 2.3 ETH)

🗓 Upcoming NFT Mints and Reveals

Today is a big day of art drops, with an Art Blocks mint, Braindrops AI drop, and art from RedruM coming.

With the Braindrops mint price at 0.1 ETH and the overarching floor above that number, expect major demand in what will likely be the mint of the day.

The Buccaneers of the Blockchain are minting today for a great cause in the Disabled American Veterans, mixing philanthropy, NFTs and blockchain gaming (catch up on their story with yesterday's Lucky Lead show and our comprehensive guide).

Otherwise, the main thing to watch today is the FOMC meeting where interest rates and future hikes will be discussed (likely leading to some volatility in the markets pending outcome).

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

• $BTOC (9:00 a.m. ET); BTC
• Memes by 6529 (11:00 a.m. ET); 0.06529 ETH
• Art Blocks Presents: Exstasis by Grant Oesterling (1:00 p.m. ET); 0.09 ETH
• Braindrops "The Spaces Between Words" by Kali Yuga (1:00 p.m. ET); 0.1 ETH
• The RED Delirium by RedruM (1:00 p.m. ET); 0.44 ETH
• Buccaneers of the Blockchain (5:00 p.m. ET); 0.066 ETH
• FOMC meeting (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.