Morning Minute | Will The Sun Set on the Summer of Sam?
TylerD's Market Summary
Sam Spratt's The Monument Game comes to an end today - or will it? Will there be fireworks? There are big questions looming as Sam wraps up THE art event of the summer.
🐵 Summer of Sam Comes to an End
Or is it just beginning?
Today is arguably the biggest day of all for Sam Spratt and The Monument Game.
Two major events are happening:
- The Monument Game ends and winners are announced, with the 3 winners receiving Skulls of Luci as their reward (the latest sale was at 90 ETH)
- Sam's RarePass airdrops are released (3 1/1s)
Starting with the RarePass airdrops, Sam shared that the 3 lucky winners will receive 1/1 "character studies" from The Monument Game.
This is inline with what many were expecting, as Sam has been very careful with his 1/1 supply and it didn't seem likely he would release full, "normal" 1/1s via this airdrop.
Now on The Monument Game.
Sam shared insight that there was 1 clear winner but that deciding on the 2nd and 3rd was a "genuine battle" and that his top choice wasn't selected.
And what a prize is on the line, with 3 Skulls of Luci given out as rewards as entry to what is likely the single most exclusive club in the digital art / NFT world (I've heard it called the "Augusta National" of NFT clubs).
There is a wildcard here today - will The Monument Game actually end?
Or is it just beginning?
Many have been speculating that those Player editions (the tickets to the game) will turn into their own NFT collections - perhaps the "Masks of Luci"?
If any announcements to that regard are unveiled today - expect fireworks. Otherwise, we may see that Player floor fall a bit from its current 6.75 ETH level as "losers" may opt to sell their tickets.
Even if there is no announcement today and the game actually ends - what a run here by Sam Spratt.
This has been one of the best combinations of quality digital art with performance art & game theory I have ever seen.
Summer 2023 was The Summer of Sam - and we are all witnesses.
💰 Memeland Releases Long-Awaited Tokenomics
After what feels like months, and perhaps missing the entire altcoin summer run (onchain summer?), Memeland has finally shared new details on its $MEME launch.
That delay has certainly hurt Captainz floor price, which peaked near 10 ETH and have since fallen 60%+ to sub-4 ETH range.
But the Captainz are back up, +21% this week to 4.2 ETH and $MEME details may help propel them further.
Here's what we know.
It's meme numbers all the way down.
While the Memeland team hasn't published on Twitter (X), they did share on a spaces and in their Discord.
- Total supply: 69B
- Fully diluted value (at launch): $69M
- $MEME price: $0.001
As for the tokenomics* and allocations:
- 25% for Community Airdrop
- 33% for Ecosystem Fund
- 10-12% for Community Firesale
- 10-12% for Private Sale
- 20% for Contributors
*Note that the team did say these tokenomics are subject to change, so don't take these as final.
There are several more specific details tied to each of those, which I'll let curious readers dive into.
But a few interesting ones:
- All Memeland NFT holders get the airdrop, Captainz have a rarity factor, and just 5% is unlocked at beginning with 20% on non-linear unlock
- Private Sale requires a 6-month lockup, with 1% unlock at 6 months and then daily unlock across 18 months (similar unlocks for the Community Firesale)
- Contributors face a 12-month lockup, with daily unlock thereafter
So if I'm interpreting this correctly, only about 10% of the tokens will be circulating day 1 - which means that FDV is likely to pump.
Now we just await details on timing...
🚚 What else is happening in NFTs?
Here is the list of other notable headlines from the day in NFTs:
- Trading volume notched up to 5,600 ETH on Wednesday; NFTs were washed in green with most majors up 5-10% (led by BAYC +7% to 28.35 ETH)
- Yuga Labs announced that its Legends of the Mara game will open its beta next month
- Sam Spratt announced that the 3 winners of the Monument Game have been chosen (to be revealed today), and that his RarePass airdrop will feature 3 characters from the Monument Game
- RTFKT shared that its Nike Dunk CryptoKicks will start shippping in September
- The Money Clicc team announced neurocolor as their next premium artist dropping a limited edition, coming in September
- Sugartown, Zynga's upcoming web3 game, announced its final allowlist opportunity, providing one last chance for users to secure an Oras NFT from its upcoming drop; the Premint raffle link is here and the deadline is Sept 1 at 3 p.m. ET
- Parallel announced a new game update featuring a new game patch, player additions to the beta, and an Avatar Challenge
- DraftKings Reignmakers has soared to the 3rd spot on the Cryptoslam monthly NFT leaderboard following success in its PGA and NFL pack sales; DK's $17.7M in volume helped Polygon jump to 2nd in NFT volume by blockchain following just Ethereum (DK made up 48% of Polygon's $36.6M monthly volume)
- Speaking of, DraftKings Reignmakers are giving away free packs for all users (not just new users) ahead of NFL Week 1
- Mercedes Benz shared more details on its upcoming NXT Icons drop, sharing info on the 6 vehicle designs to be featured
- Kanpai Pandas is giving away two Super Bowl tickets to the upcoming Super Bowl in Las Vegas
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- The crypto market fell slightly on the day; BTC -0.3% at $27,300; ETH -0.3% at $1,713
- SDNY tossed out a class action lawsuit against Uniswap stating that protocol devs aren't liable when others misuse its primarily "lawful' protocol
- Robinhood's crypto wallet added support for BTC and DOGE, in addition to its ETH support
- Starbucks announced its latest Odyssey journey, "20 Years of PSL," celebrating its historic Pumpkin Spice Latte
- TinyTap, an Animoca Brands subsidiary, launched new AI features to enhance educational content creation and connect with Open Campus Publisher NFTs, including a new AI "prompt-to-game" feature
- Looking for a job? OpenSea is hiring, and now posting job roles directly on their Twitter (X) profile
🚀 NFT Total Volume
- BAYC (2,118 ETH, 28.35 ETH Floor)
- MAYC (976 ETH, 5.7 ETH)
- DeGods (452 ETH, 4.49 ETH)
- Captainz (332 ETH, 4.2 ETH)
- Milady (217 ETH, 3.95 ETH)
📈 NFT Floor Price Increase
- Blips (132%, 0.17 ETH Floor)
- BatDadMigo (87%, 0.09 ETH)
- Pixelmon (27%, 0.35 ETH)
- Super Cool World (24%, 0.69 ETH)
- Lazy Lions (20%, 0.32 ETH)
🗓 Upcoming NFT Mints and Reveals
Today is a lighter day of drops and events but with some major ones.
Yogapetz begins its mint with its VIP list, as the Keungz-related project finally launches.
And then of course the 2 major events in the Sam Spratt ecosystem, desribed above.
If you want more, see the full list of today's drops from Swizzy's daily mint monitor.
- Yogapetz (10:00 a.m. ET)
- RarePass - Sam Spratt airdrop (TBD)
- The Monument Game - results (TBD)
- Base - Fini mint (TBD)
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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.