Morning Minute | New Bitcoin NFT Mint Raises $12M
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🙀 Quantum Cats Mint Out, Raise 300 BTC
The NFT space hasn't seen an 8-figure mint in a long time.
Many believed those days were firmly in the past.
Well don't tell that to Udi and the Taproot Wizards team, who had a smash success with Quantum Cats even after delays.
What Happened?
Yesterday the Quantum Cats mint finally sold out it 3,000 NFTs priced at 0.1 BTC each.
Just under 2,700 of the NFTs went to those on the whitelist, with just over 300 left for a public sale.
The public sale was bottled and sold out in literally 2 seconds (according to the team).
When the dust cleared, the team had raked in 300 BTC ($12.8M) in a new record setting mint for Bitcoin NFTs and Ordinals.
What makes this sale even more interesting is that Quantum Cats isn't even the team's primary NFT collection. That would be the Taproot Wizards, expected sometime later this year.
So they flipped the script and dropped the expansion set first. And the market ate it up.
Market Response
There is no secondary data yet on Quantum Cats as they won't be delivered and start trading until later today.
But we did see a signal for where the market may turn next.
Immediately after the public sale, 2 BTC NFT sets saw huge buy volume - RSIC and Bitcoin Puppets.
Each set basically went vertical, jumping 20-30%, as those who had set aside 0.1 BTC for Cats and whiffed on public eagerly aped back into the market.
Now the question becomes - where will the money flow once the Cats are live for trading? And is it truly new money entering the ecosystem to support this new set?
Why It Matters
Every new BTC NFT project which sees success adds to the foundation of the still new Ordinals ecosystem.
The fact that this team could complete a $12M primary sale shows the huge demand out there for NFT exposure on Bitcoin, from quality teams.
To date, there just simply hasn't been that many quality collections from well-respected teams on Bitcoin. That's starting to change now.
In the near term, Quantum Cats rise could raise the broader tides.
And longer term, their success is likely to inspire new teams to build on Bitcoin.
We are so early...
Dymension Airdrop Today?
The highly anticipated Dymension ($DYM) airdrop is expected to come later today, though we don't yet have formal announcement from the team.
Yesterday the team did share that "Mainnet is launching very soon" and directed users to their site portal.dymension.xyz
Interested users can see how many tokens they should be receiving here: https://genesis.dymension.xyz/
Given that $DYM has been trading at $4B FDV pre-launch, expectations are very high.
And with Pudgy Penguin holders, along with other NFT and crypto ecosystems, expecting 4-figure airdrops - we could see a catalyst in the coming days for ETH, TIA and more.
Follow the team's socials for all the key details, and be wary of scams - they will be prevalent today and across this week.
🚚 What else is happening in NFTs?
Here is the list of other notable headlines from the day in NFTs:
- ETH trading volume fell to $21M on Monday, with leading NFTs mixed on the day
- Pandora led top movers on ETH, jumping 150% to 4.2 ETH while its native $PANDORA token reached a $90M marketcap is the ERC404 token standard project exploded
- Yuga Labs shared that Dookey Dash 2.0 allows players to use their own ape and build custom skins with its Creator Mode
- Doodles released a teaser of their upcoming collaboration with G-Shock going live on Feb 15
- An XCOPY 1/1 "Breaker" sold for just 100 ETH, a 100 ETH loss for the seller who paid 200 ETH for it in July 2021
- Rektguy announced its Rekt Drinks will debut in at the NFT Paris event later this month
- Quantum Cats finally minted out their primary sale, raising 300 BTC in the process; around 2,700 of the NFTs went to WL winners and 300 were left for the public sale, with trading set to begin later today (time TBD)
- RSIC led action on BTC with 35 BTC in trading volume and rebounding 15% to 0.092 BTC; NodeMonkes next at 0.182 floor and Puppets +30% at 0.077
- Rare NodeMonkes saw serious buys with an Alien selling for 2.45 BTC, a gold for 0.75, a hoodie for 0.7 and more
- Solana NFTs saw slight red on Monday with Transdimensional Foxes leading volume at 4.5 SOL floor, Tensorians -1% at 80 SOL and Mad Lads -1% at 171
- NBA Top Shot continues to pick up steam, with major sweeps on the Victor Wembanyama and Chet Holmgren "Freshman Gems" moments sending them to $3,000 and $888 floors
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- Crypto majors are slightly red this morning after a red day in equities; BTC -1% at $42,780; ETH even at $2,320; SOL -3.5% at $94.20
- $JUP fell 8% to $0.51 as the disappointing price action continues early
- The Solana blockchain apparently went down this morning due to an outage and has not yet recovered; more details are expected soon
- Genesis filed a motion to sell an additional $1.6B of crypto in BTC, ETH and ETC held in Grayscale
- Eigenlayer re-opened its restaking program with removal of its prior TVL caps, quickly reaching $3.6B in TVL after the announcement
- ENS announced a partnership with GoDaddy, allowing domain owners to use their domains as an ENS
- Zora added support for Arbitrum in it latest expansion effort
🚀 NFT Total Volume (ETH)
- Nobody (2,403 ETH, 0.67 ETH Floor)
- DeGods (650 ETH, 3.05 ETH)
- Pudgy Penguins (648 ETH, 15.42 ETH)
- MAYC (508 ETH, 4.33 ETH)
- Matr1x Kuku (409 ETH, 2.3 ETH)
📈 NFT Floor Price Increase (ETH)
- Velocity Series Pass (35%, 0.5 ETH Floor)
- Loomlock (17%, 0.8 ETH)
- Age of Dino - Dinosty (15%, 0.68 ETH)
- Meebits (7%, 1.12 ETH)
- Sappy Seals (7%, 0.75 ETH)
🗓 Upcoming NFT Mints and Reveals
Today is a slower day but with a few major mints and events.
niceaunties continues their AI art mint with Fellowship today on ETH.
On Bitcoin, CyberSea's "Deus Ex Machina" completes its WL mint for 0.01 BTC each for the series of 400 steampunk machine-themed generative art NFTs. Given the recent success of Vivid art drops like The Golden Ratio, demand should be there for this one.
The wildcard? Whenever Quantum Cats start trading on secondary, all attention may shift to them. If they do indeed hit targets of 0.25-0.3 BTC - where will flippers rotate? Early signs say Puppets and RSIC, but time will tell.
See the full list and dive in for more details with Swizzy's daily mint monitor.
- Heroes of Mavia - $MAVIA launch (7:00 a.m. ET)
- Veterans (11:00 a.m. ET)
- niceaunties x fellowship - Auntieverse (1:00 p.m. ET)
- Deus Ex Machina (3:00 p.m. ET)
- Quantum Cats - secondary opens (TBD)
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
