Morning Minute | Digital🤝Physical & The Future of NFTs

TylerD's Market Summary

The future of NFTs is both physical and digital, and Transient Labs and IYK are paving the way. Find out what they're doing plus catch up on the latest in FriendTech.

📝 Innovations in Digital Meets Physical Collectibles

Transient Labs and IYK are creating innovative new ways for us to experience art and brands, mixing the real and the digital.

And they may very well be providing a glimpse into the future of the NFT space.

Not just digital, not just physical - but both.

The Details

Transient Labs, working alongside AlphaCentauriKid, revealed T.R.A.C.E., a groundbreaking technology aimed at reshaping art authentication and provenance.

And IYK, after securing a substantial $16.8 million in funding led by a16z Crypto, is focusing on integrating the digital and physical spheres for brands.

T.R.A.C.E: The technology brings together blockchain contracts, secure chips, and Story Inscriptions to provide security and historical documentation for art and collectibles.

It debuts with ACK’s “The Muse - Sage Green” at Christie’s, with an embedded chip containing Digital Certificates of Authenticity and sovereign creator contracts from multiple blockchains showing the full history and provenance of the piece.

This isn't far off what IYK is doing, having collaborated with renowned brands and launching the IYK Platform.

The IYK Platform is equipped with ready-made NFC chips and a user-friendly API, enabling collaborators to create a tailored digital world without the need for extensive coding knowledge.

What's Next?

Both entities are gearing up for upcoming product releases and advancements in their respective fields.

Transient Labs is on the brink of announcing more details and a full product release for T.R.A.C.E., and IYK is launching its platform to integrate more creators and enrich the synchronization of digital and physical experiences.

👥 Friend Tech Trend Tracker

TVL is closing in on $50M as Blur farmers seem to be rotating to Friend Tech in size, bringing buy volume up with them.

Let's start with the numbers.

Here are some of the core Friend Tech metrics for 9/29 and their day-over-day change:

• Return users: 9,776 -> 9,662 (-1%)
• Daily Buy volume: $4.66M -> $5.78M (+24%)
• Total Volume: $8.2M -> $9.07M (+11%)
• TVL: $44.2M -> $48.2M* (+9%)
• Highest key: Vombatus 7.74 -> 8 (+3%)

*7.1% of TVL is from self-buyers (down from a peak of 15%) per Slice Analytics' new dashboard.

There was no pre-airdrop (or pre-snapshot) selloff this week, with top keys continuing their up-only path (basically a week straight now).

The top accounts continued to climb, with Vombatus +4% to 8 ETH and CBB up another 9% to 5.62 ETH (now just 0.4 ETH away from Racer and 2nd place on the leaderboard).

A top story from the day - another notable Blur farmer in Hanwe joined FT yesterday, making a splashy debut.

He botted 100 of his keys at launch, and his keys soared to 2.75 ETH within the first hour (now at 3.05 ETH and 15th on leaderboard).

His open PNL has jumped to 145 ETH without even buying a single other key yet, and he's made 15 ETH in trading fees.

With financial success like that in just hours, and with CBB espousing how "fun" FT is, it's just a matter of time until the Blur farming wave rotates to FT (seemingly already happening after looking at yesterday's Blur volume).

A few other trends and developments we saw:

• New tools: A VC tracker from @memphis_mantis has caught steam, showing the performance of notable VCs over time
• Nate Alex was a notable new joiner on the day, botting his own keys at launch and seeing a quick rise to 1.4 ETH before settling at 0.9
• A few notable winners on the day included:
  • Dingaling +13% to 3.969 ETH (now 7th on the leaderboard)
  • 0x5f +10% to 3.48 ETH (in 12th)
  • CBB cartel member bitgoten +11% 1.3 ETH
  • misterblue +30% to 1.02 ETH
  • EB7 +67% to 0.74 ETH after buying a few new keys for the first time

Now all eyes turn to today's points airdrop and what market correction/rotation may take place in the hours to come - buckle up, it could be a bumpy weekend.

🚚 What else is happening in NFTs?

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

• Trading volume fell sharply to $5.65M (3,300 ETH) on Thursday after notable Blur farmers have seemingly stopped farming, with leading NFTs seeing a mix of red and green on the day
• Fewocious Fewos debuted at 0.15 ETH with over 17,000 in supply, +19% on the day
• Grant Yun's "The Last Supper" sold for $95,250 (~57 ETH) at Sotheby's
• Floor App has partnered with Art Blocks to offer early access and the ability to purchase select projects directly in-app, with the collaboration will kick off this Sunday
• OpenSea Pro introduced Private Sales, with no platform fees, ERC-1155 support, bundling and more
• VeeCon was announced to be held in LA next year, from Aug 9-11
• Asprey Studio and Bugatti partnered with OnChainMonkey parent Metagood to launch the Asprey Bugatti Egg Collection on Osura
• DraftKings Reignmakers Ryder Cup tournaments launch today, and our Jason Rouslin shared his predictions and picks

🌎 Around Crypto and Web3

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

• The crypto market was up on the day; BTC +1.9% at $27,000; ETH +2.8% at $1,670
• Coinbase received regulatory approval from the Bermuda Monetary Authority to starts its retail perp futures product for non-US customers
• The SEC delayed the Valkyrie Fund spot BTC ETF decision on Thursday
• PayPal filed a patent for a unique "NFT purchase and transfer system," including off-chain transactions, multiple digital wallets and a service provider role

🚀 NFT Total Volume

• MAYC (306 ETH, 4.73 ETH Floor)
• Pudgy Penguins (255 ETH, 4.79 ETH Floor)
• Milady (233 ETH, 2.09 ETH)
• DeGods (175 ETH, 3.23 ETH)
• Forked Nouns (146 ETH, 36.7 ETH)

📈 NFT Floor Price Increase

• Primera by Grant Yun (71%, 3.69 ETH Floor)
• Cel Mates (56%, 0.09 ETH)
• Goda Mint Pass (35%, 0.61 ETH)
• Valhalla (29%, 0.14 ETH)
• Fewos (19%, 0.15 ETH)

🗓 Upcoming NFT Mints and Reveals

Today is a big day of drops, spanning art, memes, collectibles, Ordinals and sports NFTs.

Killer Acid is doing the meme card, Vinnie Hager is making his Starbucks debut, and then DraftKings Reignmakers is back with their latest pack drops ahead of NFL week 4.

For those who want to dive in, see the full list and more details from Swizzy's daily mint monitor. 

• Memes by 6529 - Killer Acid (11:00 a.m. ET)
• Verse "Hyperconnection" (11:00 a.m. ET)
• Starbucks Odyssey - Vinnie Hager (11:00 a.m. ET)
• Nullish Antimatted (4:00 p.m. ET)
• DraftKings Reignmakers packs (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.

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.