Morning Minute | NFT Projects Turn to Fortnite
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:
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TylerD's Market Summary
Are Fortnite collabs the new meta in NFTs? Plus get the newest details on the Sotheby's Grails auctions.
🤔 NFTs and Fortnite
Fornite has become a household name in the gaming sector over the past few years.
And now some NFT projects are trying to capitalize on Fortnite's massive player base.
Will it work?
By the Numbers
For quick background, Fortnite is an online video game released in 2017 from Epic Games.
It's famous for its battle royale game where up to 100 players compete to be the last one standing. It has other game modes as well which I won't go into.
The game is incredibly popular.
Some stats from the past month:
- Online players in the past 1 hour: 1.16M
- Active players (past 30 days): 243M
- Peak players in one day: 16.2M
- Twitch Stream watched hours (past 30 days): 35.5M
These are some jawdropping numbers.
And apparently the teams behind 0n1 Force and The Grapes have taken note.
0n1 Force and Fortnite
0n1 Force held a mega-spaces on Wednesday unveiling several major updates.
The laundry list of updates included:
- 0n1 Force BTC Ordinals
- Comic Books
- New hires from Riot Games and YuGiOh
- A new marketplace with Origins
- A partnership with Theia to launch The Enclave in Fortnite Creative 2.0
There's a lot to unpack there but I want to focus on the Fortnite point, as it seemed to generate the most hype from the announcement.
Their Interactive is a "software, services and solutions company focused on creating immersive and interactive high fidelity visualizations."
So 0n1 Force is trying to build an immersive experience in Fortnite.
The goal makes sense - but will it work?
Gaming is admittedly far from my area of expertise, but my understanding is that there's a low barrier of entry to building in Fortnite.
The barrier is in getting outside players to come to your "world."
That's the real task at hand.
0n1 Force has 3,582 owners of its NFTs (likely less unique humans). Their Twitter account has 92k followers.
Will they have the ability to reach the masses in Fortnite?
Early indications from the market seem like "no," as the 0n1 Force floor is down over 20% since their announcement (now at 1.5 ETH).
But that's not stopping another team from trying.
The Grapes of Fortnite
The low-cap NFT sector saw a recent rocket with The Grapes project.
It debuted on Wednesday as an OpenSea mint for 0.039 ETH and quickly 3x'd to 0.12 in its first day of trading, mostly because it is "backed by Animoca Brands" and had promises of a $GRAPES token.
Then yesterday they dropped a teaser for "Grapes x Fortnite," noting that holders can share in its success via GrapeCoin.
The market loved it, as The Grapes soared another 200% to a 0.4 ETH floor at peak before settling at 0.3 (still a 7x+ in 2 days for minters).
But should the market love it?
Will The Grapes team reach success via Fortnite?
They likely have less reach than the 0n1 team, unless Animoca really comes to bat.
We will certainly see how this plays out, though this meta will likely take months or years to reach its conclusion.
🖼 Grails II Details Are Released
The Grails Part II list has been officially released!
Going live on June 15th at 4 pm ET, highlights from the 37 pieces include (with price estimates):
- The Golden Goose ($2M-$3M)
- Archetype #397 ($150k-$250k)
- Autoglyph #218 ($120k-$180k)
- Chromie Squiggle #1780 ($120k-$180k)
- Spiral Fidenza #497 ($120k-$180k)
- Micro Fidenza #316 ($120k-$180k)
- Eternal Pump #9 ($120k-$180k)
The lots include 4 other Fidenzas, 3 Ringers, 3 Punks, 2 Elevated Deconstructions, 2 Archetypes and more Art Blocks.
Most of the early chatter has been around The Golden Goose, and rightfully so.
The rumors I'm hearing are that Sotheby's has confirmed bidders on the Goose at over 1,000 ETH, meaning the $2M low estimate has been effectively reached already.
Looks like we might be in store for some fireworks a few weeks ahead of the 4th of July...
🚚 What else is happening in NFTs?
Here is the list of other notable headlines from the day in NFTs:
- Trading volume came in around 13k ETH on Thursday, as the NFT market mostly chopped
- Nike announced a partnership with EA Sports with immersive experiences, new customization and potential to bring Dot Swoosh shoes into EA games
- Hyped BTC mint Bitcoin Bear Cubs saw 32 BTC volume and opened at 0.0073 BTC floor
- Sotheby's shared the details on all 37 NFTs included in the upcoming Grails II auctions coming June 15, highlighted by the Goose
- Knights of Degen launch the Degenesis Collectors Edition burn event, offering holders a chance to acquire a copy of a physical collector's edition
- Gutter Cat Gang announced a collaboration with LaMelo Ball and PUMA, with LaMelo teasing an NFT activation for a Gutter Cat Melo sneaker
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- The crypto market notched up on Thursday; BTC +1% to $27,130; ETH +1.8% to $1,895
- Getty Images partnered with Candy Digital to launch their 2nd NFT collection of digital photographs "City Diaries: Visual Narratives From Around the World" on the Palm blockchain​
- Japanese airline ANA has launched an NFT marketplace called ANA GranWhale NFT Marketplace, featuring aviation photography, digital collectibles and more on ETH
- GameStop partnered with the Telos blockchain for its upcoming Web3 game launcher "GameStop Playr"
🚀 NFT Total Volume
- BAYC (4,023 ETH, 45.6 ETH Floor)
- Azuki (2,373 ETH, 16.26 ETH)
- MAYC (951 ETH, 9.7 ETH)
- Opepen (693 ETH, 0.92 ETH)
- FF6000 (661 ETH; 0.1 ETH)
📈 NFT Floor Price Increase
- The Grapes (174%, 0.33 ETH Floor)
- CryptoNinjaPartners (20%, 0.8 ETH)
- DeepBlack (18%, 1.78 ETH)
- Wrapped Cryptopunks (10%, 56 ETH)
- Kubz (10%, 0.99 ETH)
🗓 Upcoming NFT Mints and Reveals
Today is another slow day of new drops.
The highlight is likely the free mint for EOS holders from Sartoshi and RelyarsDam called "Death of Glory." It's just 300 supply, so a nice win for those who are eligible to mint the piece.
- Sartoshi x Reylars Dam "Death or Glory" - (10:30 a.m. ET); free for EOS holders
- Memes by 6529 (11:00 a.m. ET); 0.06529 ETH
- SIGHTSEERS Perimeter Town (12:00 p.m. ET)
-
ChainSaw x Matt Furie - ZOGS Family Airdrop (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 Project Schedule page.
