Morning Minute | More Web3 Gaming Tokens Are Coming...Soon

Morning Minute | More Web3 Gaming Tokens Are Coming...Soon

TylerD's Market Summary

The Grapes have popped 50% this week ahead of their hyped token launch. Will it live up to the hype? And what happens if it doesn't?

๐Ÿ‡The Grapes Prepare for $GRAPE Launch

The Grapes have been one of the highest performing NFTs in all of web3 gaming over the past few months.

And maybe all of the broader ecosystem.

The project minted for just 0.039 ETH 6 months ago and are now up to a whopping 3.1 ETH floor.

That's nearly an 80x for minters.

And that return is likely about to go higher.

Yesterday, The Grapes team announced its $GRAPE presale details and launch coming on Nov 30.

The Details

Here's everything you need to know about the $GRAPE pre-sale:

$GRAPE Presale Details:

  • Who: Grape NFT Holders
  • When: November 30, 7:00 AM - 11:00 AM ET
  • Where: TBD
  • How much: Allocation is 0.05eth - 0.75eth per NFT
  • Bonus: 10% $GRAPE 

There's a separate phase for holders of their Golden Tickets, running 24 hours from November 30, 2023 at 11:00 AM ET. That allocation will be in the 0.05eth - 0.25eth range.

Golden Tickets holders are not guaranteed allocation, but they will be able to participate in the presale for a maximum of 24 hours. After the presale ends, there will be a raffle where winners can claim their $GRAPE and losers will be refunded.

A bit more on the Tokenomics:

  • Supply - 2,000,000,000
  • Fully Diluted Valuation (FDV) - $45,000,000
  • $GRAPE price - $0.0225
  • Presale $GRAPE Supply: 10% of total supply
  • Day1 Unlock: 25% of presale supply
  • 75% is unlocked daily over the next 12 months

So some clear similarities to how $MEME was launched just a few weeks back.

Why It Matters

With The Grapes up 50% in the past week, clearly the market is hyped for this token drop.

But a lot is on the line for the web3 gaming ecosystem.

Each of the prior major token drops have been successes, from $MEME to $PRIME.

If this token doesn't surge and make the recent jump in The Grapes NFT floor worth it, we could see major drips across the board.

The main sector of NFTs that has pumped in the past 2-3 weeks has been projects tied to games and/or tokens.

And now they're all at risk of reversing course if this launch goes poorly.

If this token does pop though - all hell may break loose and web3 gaming may level up.

It's going to be fun to watch.

๐ŸŽ NFTfi Introduces SZN2 + Decentralization

Lending protocol NFTfi dropped a bombshell on Monday.

It's Season 2 of lending rewards officially launched, with a fresh leaderboard and new incentives.

But that wasn't the eye catcher.

The team also announced that its "decentralization journey" would begin on March 26, 2024.

It's a huge milestone for the protocol which just recently passed $500M in lifetime NFT lending volume.

The Details

As a part of its Season 2, NFTfi is introducing:

  • A new leaderboard for Season 2
  • Retroactive streak multipliers for borrowers renewing loans month-over-month on assets
  • End-of-season points boosts based on streak activity (longer the streak, higher the multiplier from 1.1x to 1.5x)

Core points mechanics from SZN1 will be carried forward, focused on rewarding borrower-friendly loan terms.

The highlight though was the final message in the announcement thread:

"Our vision is centered on establishing a decentralized protocol, with ownership and direction vested in stakeholders that have contributed the most. At the end of Season 2, we will embark on that journey, and we can’t wait for this new chapter with all of you."

While nothing is officially confirmed, most users know what transitioning to decentraliztion for crypto protocols means.

Will the end of SZN2 bring a token airdrop?

We will find out soon enough.

๐Ÿšš What else is happening in NFTs?

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

  • Trading volume came in at $24.7M on Tuesday, with the leaderboard seeing a mix of red and green
  • The Creepz (+10%) and The Grapes (+11%) led notable top movers, jumping to 2.73 ETH and 3.06 ETH floors respectively
  • Mad Lads and Creepz have now entered the "Top 10 PFP" list, with Mad Lads soaring to a 4 ETH equivalent floor (133 SOL)
  • The entire SOL NFT board was washed in green on Tuesday, led by Mad Lads, Tensorians, Claynosaurz, SMB Gen2 and Solcasino
  • Daniel Calderon Arenas' "Elevate Heart" mint was botted with 10 users snatching up 50%+ of the supply; the floor is at .09 ETH with 32% listed (from a 0.04 ETH mint)
  • XCOPY minted a new piece "SIMULACRUM," an edition of 42 with raffles for 33 allowlist spots for his owners 
  • Parallel announced its Planetfall pack opening will begin on Dec 13
  • Cozomo de' Medici is hosting a Grant Yun solo exhibition in collaboration with PROOF at The Foundry in Los Angeles in December
  • Zora added a new "Notes" feature, allowing users to mint their thoughts

๐ŸŒŽ Around Crypto and Web3

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

  • The crypto market was up on the day; BTC +2.8% at $38,250; ETH +1.7% at $2,060; SOL +9% at $60.88
  • $MEME is holding steady at $.027 on the week, and $BLUR fell 4% on the day to $0.51 after a slight rebound
  • NFT Inspect announced closure of its latest funding round, which included notable web3 personalities Zeneca, Dingaling, Alex Becker, and more
  • Animoca Brands became the TON Blockchain’s largest validator, amplifying the network's potential in gaming and the open metaverse

๐Ÿš€ NFT Total Volume

  • BAYC (3,414 ETH, 29.48 ETH Floor)
  • DeGods (2,081 ETH, 3.34 ETH)
  • MAYC (1,303 ETH, 5.57 ETH)
  • Fortune Founder's Key (1,255 ETH, 0.67 ETH)
  • Azuki (1,090 ETH, 5.99 ETH)

๐Ÿ“ˆ NFT Floor Price Increase

  • DigiDaigaku Heroes (35%, 0.93 ETH Floor)
  • Impostors Genesis (34%, 0.67 ETH)
  • Treeverse (33%, 0.67 ETH)
  • Pirate Nation (23%, 0.23 ETH)
  • Imaginary Ones (19%, 0.88 ETH)

๐Ÿ—“ Upcoming NFT Mints and Reveals

Today is a slower day of mint, mostly focused in art.

Art Blocks Presents is back with Carolina Melis for her "Kubikino" drop, arguably today's highlight. It's face-style generative art will be 320 supply sold in their standard Dutch auction format.

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

  • Memes by 6529 (11:00 a.m. ET)
  • Art Blocks "Kubikino" (1:00  p.m. ET)
  • History of Cryptoart (6:30 p.m. ET)
  • Symbiogenesis - Chapters 2-3 (10:00 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.