Morning Minute | The Super Bowl Comes Early For Dapper Fans
TylerD's Market Summary
Plus, BTC hits $47k as crypto booms, though it may be stopping some NFTs in their tracks.
🏈 Dapper Goes Deep Into NFL History
It's Super Bowl weekend, a de facto national holiday for most Americans.
And Dapper Labs is celebrating in style.
The team behind NBA Top Shot, NFL All Day and more is reaching back into NFL history for some of the most historical plays of all time - and now they're digital collectibles.
What Happened?
Yesterday, NFL All Day announced its Playoff Icons drop.
These include some of the absolute biggest stars and plays in Super Bowl history:
- Joe Montana and "The Catch"
- John Elway's "The Drive"
- James Harrison's 100-yard interception return
Those 3 may be the main draw, but these Moments feature dozens of more iconic plays from legends like Marvin Harrison, Jim Kelly, Mike Vrabel, Joe Greene, Bruce Smith, Cris Carter and several more.
It's subjectively (maybe even objectively) the coolest collection of Moments that NFL All Day has dropped to date.
How To Participate
If you're interested in ripping some packs, here's what you need to know.
There are 3 Playoff Icons pack drops currently live and open for the next 2 days (or until sell out).
- Hot Route ($5): 5% chance at Rare Moments, chance at Legendary
- Premium ($49): 2 Rares guaranteed, chance at Legendary or Ultimate
- Legendary ($999): 2 Legendaries and 2 Rares guaranteed, 7.5% chance at Ultimate
The Ultimates include Montana, Elway and Harrison, and you can find the full list of Legendary and Rare moments here.
Shout out to Dapper for bringing some extra spice to Super Bowl weekend.
And good luck to any pack rippers out there!
📈 📉 BTC Boom Kills Ordinals Momentum
BTC is booming.
It ripped 6% overnight to $47,300 and is now up a solid 10% on the week.
Great news for BTC holders.
Perhaps less than great news for Ordinals (BTC NFT) enthusiasts, at least on the short term.
What Happened?
The leading BTC NFT sets have all fallen these past few days after reaching local highs.
- Quantum Cats: 0.35 BTC to 0.25 (-29%)
- RSIC: 0.135 BTC to 0.095 (-29%)
- Bitcoin Puppets: 0.084 BTC to 0.064 (-24%)
- NodeMonkes: 0.185 BTC to 0.173 (-7%)
Not great.
Why Is It Happening?
Well each of these may have their own specific reasons.
But broadly, it's not surprising that a new and immature NFT ecosystem would see prices fall as its native currency goes up. It's a story that repeated several times on ETH through 2021-2022.
A few other impact factors:
- Quantum Cats took 300 BTC out of the eco with their mint and its unclear how much "outside money" really came in as buyers
- Quantum Cats also did their first evolution yesterday, which some holders didn't like
- RSIC faced drama with Casey Rodarmor sharing plans for hard-coding the first series of Runes, removing any hopes of RSIC's rune token to be the first to launch
Typically, movements up in the native currency are a net positive for the NFTs on that chain (the wealth effect).
My prediction is that the same will play out on BTC and this is just temporary pain.
We'll find out soon.
🚚 What else is happening in NFTs?
Here is the list of other notable headlines from the day in NFTs:
- ETH trading volume came in at $24.6M on Thursday; leading NFTs saw a mix of red and green
- Pandora led notable top movers on ETH, jumping another 15% to 12.9 ETH with its token up to $300M; Pudgy Penguins +3% to 18 ETH
- Farm Land Pixels fell by 50% to 0.96 ETH after their token airdrop
- MetaStreet announced its upcoming token will be an ERC404, another signal of adoption for this hot new token standard
- New generative art set "Pebbles" by Arsonic and ZeBlocks minted as the first gen art drop on Punk6529's new Next Gen contracts, and ran from its 0.0659 ETH mint price to 1 ETH floor (now at 0.69)
- Sotheby's announced a new auction of an Ether Rock, the somewhat controversial NFT which has seen sales over $1M in the past (their estimate is $500k-$700k)
- Notable Bored Ape trader Franklin sold his Gold Bored Ape (and PFP) for 275 ETH ($668K) and tweeted "End of an era."
- Forgotten Runes detailed its production plan for 2024, including the next of its special gameplay events, New Foundations
- RSIC led action on BTC with 64 BTC in trading volume in a rocky day, featuring a dip to 0.075 before rebound to 0.095 BTC; Quantum Cats fell. to 0.24, Pups to 0.064 and Nodes to 0.173
- Quantum Cats evolved for the first time, showcasing one of their primary differentiators (though the market shook it off)
- Solana NFTs mostly chopped on the day; Transdimensional Foxes led volume (+3% to 4.6 SOL); Mad Lads at 168 SOL, Tensorians at 81 and Claynos at 33 and Crypto Undeads at 6.4
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- Crypto majors are majorly green this morning; BTC +5.8% at $47,410; ETH +3.7% at $2,510; SOL +4.4% at $106
- Dymension rallied another 11% to $7.70 and a $1.1B marketcap, while $JUP fell 6% on the day to $0.50 as its disappointment continues
- Own the Doge is airdropping $3M worth of its meme token $DOG to select Base communities, top Rainbow Points holders, Onchain Summer NFT minters and more
- Saturn opened its airdrop of its $RUG token to the BTC community, though to mostly underwhelming results
- Libreplex launched a new "liquid hybrid" version of SPL22s which enables creators to automatically create liquidity pools for their tokens at launch, with $TACO the first project to take advantage
🚀 NFT Total Volume (ETH)
- MAYC (1,094 ETH, 4.25 ETH Floor)
- Pudgy Penguins (642 ETH, 17.98 ETH)
- Tenjin (515 ETH, 0.45 ETH Floor)
- Azuki (535 ETH, 6.59 ETH)
- Farm Land by Pixels (488 ETH, 0.97 ETH)
📈 NFT Floor Price Increase (ETH)
- Chameleon Travel Club (36%, 0.97 ETH Floor)
- Early Retired Cats Club (35%, 0.59 ETH)
- Kaijukingz (32%, 0.28 ETH)
- Pandora (30%, 12.95 ETH)
- Moonbirds Mythics (29%, 0.16 ETH)
🗓 Upcoming NFT Mints and Reveals
Today is a busy day of events spanning art drops and NFL collectibles.
Amber Vittoria, Harm, and Postwook all have drops today.
Courtyard is doing its latest packs with a football theme, selling 90 packs for $58. And Dapper is back with NFL All Day packs at 3 different price points featuring NFL legends (described above).
See the full list and dive in for more details with Swizzy's daily mint monitor.
- Amber Vittoria - A Creation Created by a Creation (9:00 a.m. ET)
- Harm van den Dorpel x Verse - Swallow, only Shallow (1:00 p.m. ET)
- Postwook - Where My Roots Have Been (12:00 p.m. ET)
- Courtyard - Game Day Legends (1:00 p.m. ET)
- Glitch NFT Studio - Supernatural Creatures (1:20 p.m. ET)
- NFL All Day - pack drop (open)
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
