Morning Minute | Parallel Launches PFPs with ERC-6551s and AI
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
Parallel is combining the latest NFT tech with AI in its upcoming Avatar and game release. Read on to learn how this could be a game-changer for the Web3 gaming space.
🎮 Parallel's New PFP Recipe
One of the biggest projects in NFT history is back in the news with a major PFP drop.
Sci-fi trading card game Parallel is dropping its Avatars today on OpenSea.
For quick background, Parallel is one of the largest collections on OpenSea with 5.8M items, is #23 in all-time trading volume ($232M), and they have their own native token in $PRIME.
Now they're launching PFPs, and the natural question is - why?
What makes this PFP drop unique?
The answer - the tech they're using with ERC-6551 and their order of operations.
Community First, PFPs Second
- Time: July 11, 5 pm ET
- Supply: 11,000 total with 6,371 available to mint
- Price: 0.11 ETH
- Where: OpenSea
🚚 What else is happening in NFTs?
Here is the list of other notable headlines from the weekend in NFTs:
- Trading volume came in below 12k ETH on Monday, NFTs again saw a mix of red and green on the day with Punks and BAYC up but most others down
- BAYC announced a new IP tool called "Made by Apes" with on-chain verification is coming later this month
- Blur added both Elementals and Elemental Beans to its Blend program on Monday; floors fell on the news, now 1.18 ETH (-5%) and 1.68 ETH (-6%)
- Memeland CEO 9Gag shared new details for the upcoming $MEME sale, where Captainz will be given priority for Allowlist spots with more spots for rarer Captainz, bonuses for Full Crew & Super Crew holders, and Potatoz get Waitlist spots; max buy-in fee noted as 0.69 ETH
- Low-cap derivative Fatzuki caught the market by storm yesterday, surging 175% to 0.09 ETH at peak before settling at 0.075 this morning
- 9Gag followed up with a note that all NFT holders in the Memeland ecosystem would receive an airdrop
- The Prohibition team announced a formal launch date of next Tuesday, July 18; their Arbitrum-based platform uses the Art Blocks Engine & promises a platform with no mint passes, no allowlists, pairing artists with coders, and more
- Sorare began auctions for Victor Wembanyama and the rest of the 2023-2024 top 5 NBA draft picks on July 9
- UFC and Concept Labs announced a multi-year partnership to bring UFC Strike to fans worldwide, with plans for launching a mobile-first game, new fan experiences and more
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- The crypto market was up slightly on the day; BTC +0.8% to $30,400; ETH +0.3% at $1,870
- Arkham Intelligence launched the first on-chain Intelligence Exchange, using a bounty system with "intel-to-earn" incentives which enable users to buy and sell blockchain wallet address information anonymously
- Andy Murray, Wimbledon, and Refik Anadol partnered to create "The Exposition," a digital sculpture derived from 18 years of Murray's Wimbledon performance data; it will mint as an open edition for $147
🚀 NFT Total Volume
- BAYC (2,744 ETH, 34.5 ETH Floor)
- Azuki (2,516 ETH, 6.96 ETH)
- MAYC (1,248 ETH, 6.66 ETH)
- Azuki Elemental Beans (991 ETH, 1.68 ETH)
- DeGods (784 ETH, 8.74 ETH)
📈 NFT Floor Price Increase
- QQL Mint Pass (34%, 6.75 ETH Floor)
- 10ktf Kagami (31%, 2.56 ETH)
- Pixelmon (22%, 0.47 ETH)
- 0xMahjong (21%, 0.59 ETH)
- Otherside Vessels (20%, 0.22 ETH)
🗓 Upcoming NFT Mints and Reveals
Today is likely the marquee day of the week for new drops, featuring 2 art projects and a major PFP release from Parallel (described above).
Richard Nadler's drop "Yamabushi's Horizons" on Verse is a particular highlight, with some very aesthetic outputs. But this one will be a ranked auction, a format we don't see as much in the art minting world, so there may be less immediate upside on secondary.
The Art Blocks drop may be overshadowed by Horizons, but Semblance is in a style that has resonated well with collectors in the past.
If you want more, see the full list of today's drops from Swizzy's daily mint monitor.
- Veve x Marvel Comics - HULK Comic (11:00 a.m. ET)
- Art Blocks Presents "Semblance" (1:00 p.m. ET); Dutch auction
- Richard Nadler - Yamabushi's Horizons on Verse (1:00 p.m. ET)
- Parallel Avatars (5:00 p.m. ET); 0.11 ETH
Enjoy this write-up? Follow along with me on Twitter @tyler_did_it or reach out via email email@example.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.