Morning Minute | FanDuel Founders Bring Fantasy to Music

Morning Minute | FanDuel Founders Bring Fantasy to Music

TylerD's Market Summary

Fantasy music games are coming, plus catch up on a huge day for digital art.

๐ŸŽถ FanDuel Founders Launch Fantasy Record Label Game

Music NFTs?

Music fantasy games?

How about both?

The creators of FanDuel just launched Fantasy Record Label, a unique platform blending fantasy sports with the music industry.

This inventive game invites players to step into the role of a record label head, strategically selecting artists showing promising growth.

And it builds upon the foundation Vault Music has created allowing artists to create exclusive, limited-edition music releases and sell them as NFTs to super fans.

How To Play

The key to success in the Fantasy Record Label game lies in predicting which musicians will soar in popularity, as reflected in the fluctuation of their monthly listeners on Spotify.

It works like this:

  • Create a Label: Users form their own "fantasy record label" on the Vault Music platform
  • Sign Artists: To sign an artist, players must own a piece of their music from Vault Music
  • Track Performance: Rosters are evaluated based on the change in Spotify Monthly Listeners
  • Score Points: Final standings are calculated by adding up all 5 roster spots and their listeners gains/losses over a 1-week period

Each week the top 10 labels win cash prizes.

And on top of that, Vault points are airdroped each week based on performance (encouraging long-term thinking and roster optimization).

Enter Nigel Eccles, co-founder and CEO of Vault Music:

“Think fantasy sports but for the music industry.

I believe that unlike the sports and gaming industries, music has failed to energize top fans and embrace new formats. Streaming has been great for the music industry’s bottom line, but it serves passive listeners, not diehard fans.

Our goal is to bring joy, pride, and competition back to collecting music, and create upside for both fans and artists in the process.”

Why It Matters

Vault Music is looking to redefine the music landscape, and it's operating model is set up for success in a time where platforms like Spotify are demonetizing low-streaming tracks.

As a digital music platform, it serves both artists and fans:

  • Artists can release limited-edition tracks, empowering them with more control over their earnings
  • Fans can collect those tracks, proving their patronage and also participating in the artist's upside financially

The Fantasy Record Label game is a strategic extension of this vision, engaging fans more deeply in the music ecosystem and creating a sustainable model for artist support and fan enjoyment.

The key aspect is that players have to own an artist's track to play the game.

This provides another reason for fans to collect and own, beyond pure fandom and access. 

By purchasing exclusive music drops from these artists on Vault Music, fans can "sign" them to their fantasy labels (and also begin to build an "emotional" attachment).

As these artists gain popularity, the exclusivity and value of their releases increase, benefiting both the artists and their supporters financially.

And as the game gains traction (more players = more fans = more buyers), more artists are incentivized to drop music on Vault.

Kara Burney, Chief Marketing Officer at Vault sums it up best:

“The best part about this game is that we’re using fandom to put more money in artists’ pockets at the time when they need it most.

Already we’ve seen artists earn more with a single release on Vault Music than they’ve earned from streaming in a year.

That’s because in our game, just as with real record labels, up-and-coming artists have the most potential upside.

Our players are incentivized to discover, collect releases, and sign the next music stars to their fantasy label before their big break. It’s a music economy where everybody wins.”

Get Started

A few resources to help you get started:

Good luck!

๐Ÿ‘ฅ Friend Tech Trend Tracker

More bleeding in Friend Tech, but a major development from the team may shift the entire course of this app.

Here are some of the core Friend Tech metrics for 11/16 and their day-over-day change:

  • Return users: 2,190 -> 2,575 (+18%)
  • Daily Buy volume: $0.567M -> $0.418M (-26%) 
  • Total Volume: $1.32M -> $1.48M (+12%)
  • TVL: $45.7M -> $42.56M (-7%)
  • Highest key: CBB 6.2 -> 6.12 (-1%)

*TVL in ETH terms 22,232 -> 21,713 ETH (-2%)

Sellers came out in force, outnumbering buyers 2.5:1 in a very red day. And TVL fell to a 10-day low.

That may be about to change though, as yesterday was a huge day.

First, CBB launched the $CBP token.

The token started at $1 and soared to $16 within just a few minutes, before grinding down to its current $3.29 level.

The question - does this mean FT points are worth $3+?

Well not exactly. 

Putting the CBP tokenomics aside, they also earn yield. So 1 CBP token is worth more than 1 FT point, as the CBP token will yield some fraction of additional CBP tokens.

Now as the airdrop date gets closer and closer, the two values should converge. We will certainly see how it tracks and if this token price sways anyone (cough Blur farmers) to come over.

The other major news?

A global feed has been introduced using Votes as an up-voting mechanism (reddit-like). The most voted for posts jump to the top of the feed, and users get an allotment of votes per day based on key price.

The devs are doing things.

If a good points drop comes today, it could be a set up for a bullish weekend (ahead of the Blur airdrop on Monday). We'll find out.

๐Ÿšš What else is happening in NFTs?

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

  • Trading volume jumped up to $14.8M on Thursday, though the leaderboard was mostly red
  • Pudgy Penguins led notable top movers again, up 9% to 5.83 ETH; free mint L3E7 soared to a 2.1 ETH floor on big volume
  • Mad Lads once again led Solana NFT action, jumping another 3.69 SOL to a 97 SOL floor (briefly passing 100)
  • Taproot Wizards raised $7.5M in a seed round ahead of their highly anticipated Ordinals drop
  • Bitcoin "NFTs" took the top 6 spots on the CryptoSlam board (tho 5 of them are BRC-20s), perhaps on the back of the Taproot raise news
  • Kreatorhood officially launched its points, incentivizing traders to list & buy NFTs on its platform for the next 4 weeks
  • Animoca Brands, Amazon Web Services, and Polygon Labs unveiled MoonRealm Express Accelerator, an initiative to propel web3 development globally focused on decentralized identity, socialfi and gamefi
  • Seven grail digital art pieces from the Starry Night collection (from XCOPY, Cherniak and Hobbs) were sold to an anon collector at Sotheby's yesterday
  • The Trevor Jones x Money Alotta 1/1 "Ethboy" sold for 200 ETH yesterday, also to an anon collector
  • van Arman's "The First Sparks of Artificial Creativity" instantly sold out its 128 unique piece collection, briefly surging to 1.5 ETH before settling at 1.3
  • FIAT® unveiled its FIAT® Pass as a free airdrop for all aimed at transforming brand loyalty and customer experience in web3, coming Nov 21
  • Lending protocol Gondi announced its V2 is live on mainnet, featuring instant refinancing, pro-rate interest, renegotiations and more
  • Delegate Cash launched Delegate Market, a marketplace for selling NFT rights (i.e. utility) without selling the NFT itself

๐ŸŒŽ Around Crypto and Web3

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

  • The crypto market fell on Thursday as it appears the ETFs aren't getting approved this week; BTC -2.2% at $36,415; ETH -4.7% at $1,960; SOL -10% at $58
  • $BLUR fell 11% on the day to $0.31, now 3 days away from SZN2 airdrop; $MEME fell 18% to $0.0278
  • NFT Inspect is partnering with Cardano and will integrate on-chain analytics for Cardano NFTs
  • Candy Digital and Cal Ripken Jr. are teaming up for digital collectibles commemorating The Iron Man's illustrious baseball career

๐Ÿš€ NFT Total Volume

  • MAYC (892 ETH, 5.54 ETH Floor)
  • BAYC (782 ETH, 29.55 ETH)
  • L3E7 Worlds (493 ETH, 2.11 ETH)
  • Captainz (351 ETH, 4.5 ETH)
  • Pudgy Penguins (289 ETH, 5.78 ETH)

๐Ÿ“ˆ NFT Floor Price Increase

  • Panopticon (58%, 0.08 ETH Floor)
  • Distortion Genesis (54%, 0.57 ETH)
  • Project AEON (31%, 0.17 ETH)
  • Sofa Maker (27%, 0.17 ETH)
  • Mocaverse (15%, 2.05 ETH)

๐Ÿ—“ Upcoming NFT Mints and Reveals

Today is slower day of drops to round out the week.

The highlight is likely die with the most likes doing the Meme card today.

Otherwise, expect a volatile weekend ahead of the major $BLUR airdrop coming on Monday.

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

  • Art by Nafay - Sprectral Bloom (10:00 a.m. ET)
  • Memes by 6529 (11:00 a.m. ET)
  • Luke Shannon "Generative Wooden Chairs" (1:00 p.m. ET)
  • Courtyard - Pokemon Packs (12:30 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.