TylerD's Market Summary

Today's Morning Minute is brought to you by Arcade, the leading protocol for NFT lending.

Arcade allows users to hold on to their NFTs and still get liquidity when needed via their flexible time-based lending terms.

They changed the game with their Smart Vaults, allowing users to store their NFTs in vaults during the loan process - enabling them to claim airdrops sent to the NFT after paying off the loan.

It's a major unlock.

The protocol has seen an explosion in user growth (+130%) and monthly loans (+300%) over the past 8-9 months as more and more users find the platform.

And of course - users are being rewarded.

Lending and borrowing on the Arcade protocol earns points which convert to $ARCD tokens.

So check Arcade out today, give or take some liquidity and start earning!

🟠 The Bitcoin Halving Is Here

The final countdown is on.

Current projections show the Bitcoin halving (where miner rewards cut in half, also meaning miner sell pressure reduces by 50%) will happen at 6:30 pm ET tonight.

So the billion dollar question - what happens after the halving?

What happens to Bitcoin?

Historically - nothing. At least for the first 5 months.

Based on this analysis which looked at the average returns from the prior cycles, movement in BTC price in the first 0-5 months post-halving is very slow.

It speeds up in months 6-8 and then rockets after month 8.

So if this cycle plays out like the average of prior ones, Q4 is when the action begins.

And fireworks in Q1 2025.

Feels like forever away, but a fun plan nonetheless.

Now that's just analysis based on past cycles. This cycle may be totally different with the ETFs now playing a major factor, along with a very volatile geo-political backdrop.

But the concept should apply. Reduction in daily sell pressure does not lead to an instant spike.

It makes a larger difference over time, not right away - which makes sense.

So plan accordingly.

What Happens with Runes?

The entire timeline has been nonstop Runes talk for the past few weeks.

So are they overhyped?

Perhaps, but attention is also incredibly important in the memecoin / utility coin streets.

And Runes have attention.

Here are my pre-runes power rankings headed into the halving:

1. RSIC
2. PUPS
3. WZRD
4. Runestone
5. Prometheans

One of the big open questions with the Runes launch is - will the UX be much of an improvement over the current BRC-20 UX?

Some think it won't be and are bearish for that reason.

I'll take the opposite side.

Infrastructure will be ready.

• Magic Eden is launching Runes trading support starting April 23
• OKX is launching an OKX Runes Market
• Ordinals lending protocol Liquidium will have Runes support

And that's not even factoring in any major CEX's (cough, Binance) listing one or more of the most hyped Runes.

Attention + more liquidity + a better trading experience seems like a winning formula for me.

Sure some of these leaders have already run to mid-9-figure market caps - but there is still room to run.

I'm long.

The other wildcard is infrastructure plays.

Runevo just launched NFTs that convert to runes and are tied to their mobile-first Runes product - plays like that could do very well pending adoption of their product.

So watch for those that spring up over the coming days and weeks.

What Happens with Ordinals?

Runes are certainly in the spotlight, but people still love flexing PFPs.

Ordinals are the most obvious rotation play for anyone making huge gains in Runes but still wants to play in the ecosystem (behind just going spot BTC of course).

And Institutions keep posting about Ordinals.

Franklin Templeton first, now Fidelity.

Attention is here and more is likely coming.

The wildcard - it's becoming prohibitively expensive to launch new 10k collections.

Yesterday Danny (OCM founder and well respected BTC thought leader) shared that it would cost $3.3M to inscribe a new 10k collection in the current gas environment.

And gas is expected to go up post-halving.

What does it mean? Less dilution.

And the current leaders are primed to be the recipients of any major rotations.

My Ordinals power rankings headed into the halving:

1. NodeMonkes
2. Bitcoin Puppets
3. Quantum Cats
4. OMB
5. Pizza Ninjas

I do think one or more winners on this list could level up (2x or more) over the coming weeks pending success of runes.

What's also notable about that list is there are no real projects in the 0-0.1 BTC range, meaning the market is ripe for a microcap(s) rally.

Conclusion

None of us know what will happen but it's fun to speculate.

In the scenario where Bitcoin chops / consolidates for the next few months, Runes and Ordinals likely both win.

At least that's my bet and I'm positioned accordingly.

It's going to be fun to watch. Good luck out there, and see you on the otherside of the halving.

🚚 What else is happening in NFTs?

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

• Bitcoin led NFT trading volume with $19.7M on the day (+46%); ETH was next with $7.8M (+10%) and then Solana with $6.1M (+30%)
• Runestone led the BTC NFT board again though falling 25% to 0.068 BTC after Leonidas did a fundraise to go after runes 1-10; Pups and Nodes held eve
• RSIC was a winner in the Runestone fallout, jumping to 0.078 BTC with just 12 hours of mining left; Prometheans held strong at 0.03 BTC
• Bitcoin Wizards jumped to 0.395 BTC after Ansem touted WZRD and it surged 50% to $12 ($257M mc)
• ETH NFT leaders were mixed with BAYC (-1%) and MAYC (-4%) but Pudgy +3%, Azuki +3% and Milady +2%
• Mintify Genesis was a notable winner, jumping 117% to 0.15 ETH
• Solana NFTs were very red on the day; Mad Lads -14% at 105 SOL, Tensorians -4% at 16; free mint Theory of Gravity runs to 1.5
• XCOPY's "$LAVE" sold for 315 ETH ($967,000) to notable collector BatSoup
• ACK's "but wait...my bags!" sold for 28.69 ETH to another notable collector Bharat Krymo

💰 Token, Airdrop & Protocol Tracker

Here's a rundown of major token or airdrop news from the day:

• $WZRD outperformed in BRC20s, jumping 50% to $12 after an Ansem tout, now just a 2x behind PUPS
• The $PUPS team announced a partnership with OKX to feature the token on OKX Runes Market launching post-migration, along with a partnership with Liquidium
• Thruster announced a $7.5M seed round led by Pantera, using the money to focus on yield and DeFi products and better onchain UX
• NFTfi and NFTX announced a partnership to work on NFT financialization and composability

🌎 Around Crypto and Web3

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

• Crypto majors are very green this morning after Bloomberg reported the Israel Iran conflict may be over; BTC +3.7% at $65,000; ETH +1.8% at $3,100; SOL +7% at $145
• Memecoin majors were green with WIF and BODEN outperforming; DOGE +3%, WIF +17%, PEPE +4%, BODEN +25%; several Solana memes up 25%
• Coinbase will add WIF perp futures to its International and Advanced exchanges starting April 25

🚀 Memecoin Movers 

• $APED (+450%, $15M market cap, Base)
• $MICHI (+95%, $18M market cap, Solana)
• $HARAMBE (+56%, $21M market cap, Solana)
• $DEGEN (+28%, $1.2BM FDV, Base)
• $SC (+32%, $110M market cap, Solana)

📈 NFT Floor Price Increase (ETH)

• Mintify (117%, 0.15 ETH Floor)
• Beeple Spring Collection (65%, 6.69 ETH)
• Proof of Narnia (53%, 0.69 ETH)
• Mittaria (21%, 0.2 ETH)
• Persona (20%, 0.22 ETH)

🗓 Upcoming NFT Mints and Reveals

Today is a huge day with the halving coming around 6:30 pm ET and the potential launch of Runes immediately after.

The last slate of Ordinals are minting ahead of a likely pause in the coming days (due to gas spikes), with The Ones a likely highlight today.

Bold Leonidas is the Memes card artist so expect some extra demand on that one.

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

• Ordinal x Tribes (10:00 a.m. ET)
• The Ones (10:00 a.m. ET)
• Karmastone (10:00 a.m. ET)
• Memes by 6529 (11:00 a.m. ET)
• Halvinals (11:00 a.m. ET)
• Based Bits (1:00 p.m. ET)
• The Halving (6:30 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 to tyler.warner@luckytrader.com.

Binance is launching Binance Megadrop, a token launch platform that merges airdrops with interactive web3 quests to enhance user engagement and provide exclusive access to new web3 tokens. 

The Deets

• Engagement Through Education: Complete tasks via the Binance Web3 Wallet for early access to tokens.

• Token Introduction: The debut token, BounceBit (BB), integrates BTC restaking mechanisms.
• Reward Structure: Megadrop participants can earn up to 168 million BB tokens.
• Access Method: Users must subscribe to BNB Locked Products and finish specified Web3 quests.

The Bulk

Binance Megadrop aims to redefine the web3 airdrop experience by incorporating elements of Binance Simple Earn and the Binance Web3 Wallet into a single, cohesive platform. This approach allows users to engage with new web3 projects like BounceBit (BB) before they are officially listed on the exchange for trading. 

By subscribing to BNB Locked Products and completing designated web3 quests, users can accumulate scores, which determine their share of the available tokens. For BounceBit, the platform's first launch, 168 million BB tokens are set aside as rewards. 

Founder Feedback

🎬 Take Action

Binance users in supported jurisdictions can find Megadrop in the "more" section of their account panel. 

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For more web3 and NFT news, visit the Lucky Trader newsfeed.

Worldcoin unveiled World Chain yesterday, a blockchain built for humans, to enhance the efficiency and user experience across the globe.

The Deets

• Dedicated Network: Transitioning Worldcoin transactions to World Chain to manage increasing user demand and network stress.
• User Verification: Integration of World ID for transaction prioritization and gas allowances, enhancing user engagement and security.
• Scalability and Efficiency: Plans to scale to 1 billion users by improving transaction speeds and costs, reducing blockchain congestion.
• Developer and Community Support: Introduction of community grants and partnerships to foster development on World Chain.

The Bulk

Worldcoin is taking on an ambitious goal with the launch of World Chain, a blockchain designed for humans.

Transitioning to World Chain, Worldcoin aims to alleviate the strain on the Optimism Mainnet, where it currently accounts for approximately 44% of all Layer 2 gas consumption. This shift will not only cater to existing demands but also ensure scalability for future growth, projecting a target of one billion users.

World Chain will feature user verification via World ID, which allows for anonymous yet verified transactions, giving human users priority in transaction processing and an allocation of free gas. This move is aimed at reducing the prevalence of unproductive bot activities which often clog the network.

For developers, World Chain will offer a conducive environment for creating apps that leverage World ID's sybil resistance, focusing on decentralized finance and identity utilities. The network promises to support innovations that enhance everyday utility for its global user base.

🎤 Community Quotes

💰 Humanity Talks

Users verified through World ID will enjoy benefits such as transaction prioritization and gas allowances, which are part of Worldcoin's strategy to make blockchain technology more accessible and affordable for ordinary users.

🔜 What's Next?

Worldcoin is gearing up for a developer preview of World Chain soon, with a full launch expected later this summer. Community members and developers are encouraged to engage with the upcoming features and explore potential partnerships.

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For more web3 and NFT news, visit the Lucky Trader newsfeed.

TylerD's Market Summary

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• 100% of their Blast airdrop being shared with the community

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🏀 NBA Top Shot Sets New Record with Victor Wembanyama

Victor Wembanyama has been setting records on the court throughout his star-studded rookie season in the NBA.

Now he's setting them off the court.

With help from NBA Top Shot.

What Happened?

Yesterday NBA Top Shot announced that the Victor Wembyama 1/1 (the Ultimate Rookie Pack) sold for $145,000.

It marked a new ATH sale for a Wemby digital collectible, following the Sorare 1/1 card sale of $110,333 back in December 2023.

The sale is also the 5th highest all-time for NBA Top Shot, and the highest sale for any non-Lebron Moment.

It's a pretty big deal.

And the sale is generating momentum at a great time as Top Shot plans for the Playoffs.

What's Next

NBA Top Shot has big plans in store for the NBA Playoffs this year.

Plans include:

• Bringing back Redemptions (each team will have 3), gamifying the playoff collecting experience
• Launching Rare packs ($149) with a shot at a new 1/1 Moment for Dereck Lively II (and earning Ultimate Chaser Packs down the line)
• Giving new rewards for predicting the playoff winners and collecting all the playoff Moments from the NBA Champ
• Providing NBA Finals Tickets for a few lucky winners of pack purchase raffles

Overall, Top Shot is making the collecting experience fun, gamifying it with the Redemptions twist, and giving out cool new prizes (1/1s and Finals Tickets) along the way.

What's not to like?

Learn more when Jacob Eisenberg joins our X spaces The Lucky Lead today at 10 am ET.

🚚 What else is happening in NFTs?

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

• Bitcoin led NFT trading volume with $12.9M on the day (-25%); ETH was next with $7.13M (-3%) and then Solana with $4.9M (eve)
• Runestone led the BTC NFT board again and jumped 10% to a new ATH of 0.089 BTC; most of the other leaders chopped on the day
• RSIC briefly spiked to 0.075 BTC after Memeland CEO 9gag swept 21 (now back to 0.064)
• CyberKongz airdropped Prometheans to its holders and random Ordidals holders, with Prometheans reaching a 0.028 BTC floor on 82 BTC volume
• ETH NFT leaders were very green led by BAYC (+9%) and MAYC (+15%)
• Yuga Labs dropped the bombshell that it sold the HV-MTL and LOTM assets to Faraway, who will carry the IP forward
• v1 Punks led top movers jumping 50% to 2.14 ETH; Hashmasks, DeFi Aes and Animus Eggs all saw solid green as well
• Solana NFTs were slightly red on the day; Mad Lads -2% at 122 SOL, Tensorians -3% at 17, Jeo Bodens -23% to 4.6 SOL
• Jack Butcher's Oviator sunglasses claim went live for NFT holders at oviators.com
• Art Blocks announced its Marfa Weekend dates as November 14-17

💰 Token, Airdrop & Protocol Tracker

Here's a rundown of major token or airdrop news from the day:

• Nim Network released a new wallet claim checker, indicating wallets could see as much as a 20% boost in $NIM
• Pulsr announced a $PULSR airdrop for Mad Lads and Backpack users
• $ARCD rebounded 80% on the day to a $3.2M market cap, briefly soaring as high as +200% before dipping
• CyberKongz airdropped its Pre-runes NFT Prometheans to holders, reaching 0.028 BTC ($1,730)
• STFX recorded its biggest volume to date, reaching $190M lifetime volume & spiking after its $2M Battle Royale trading competition went live
• Binance introduced Binance Megadrop, as a new token launch platform which allows users to stake BNB and complete web3 quests for airdrops

🌎 Around Crypto and Web3

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

• Crypto majors are slightly red this morning but up big from yesterday's dip; BTC -0.5% at $62,700; ETH -0.5% at $3,050; SOL -1% at $136
• Memecoin majors fell on the day; DOGE -5%, WIF -3%, PEPE -4%; PONKE outperformed on Solana (+47%), Normilio on Base (+37%)
• Worldcoin announced an EVM-based World Chain as "a blockchain designed for humans," meaning verified humans will get priority over bots, launching summer 2024
• Kraken released a new multi-chain wallet, including support for Bitcoin, Solana, ETH and Polygon (at a minimum) across NFTs and DeFi
• Ernst & Young announced plans to use Polygon PoS and zk proofs to manage its business contracts

🚀 Memecoin Movers 

• $PONKE (+47%, $88M market cap, Solana)
• $NORMILIO (+38%, $18M market cap, Base)
• $GOAT (+37%, $20M market cap, Solana)
• $FUNGI (+29%, $450M market cap, Base)
• $BOME (+12%, $638M market cap, Solana)

📈 NFT Floor Price Increase (ETH)

• merge (89%, 0.07 ETH Floor)
• RumbleKongLeague (56%, 0.34 ETH)
• v1 Punks (50%, 2.14 ETH)
• Hashmasks (40%, 0.09 ETH)
• Otherdeed (23%, 0.19 ETH)

🗓 Upcoming NFT Mints and Reveals

Today is another busy day of drops mostly focused on Bitcoin as teams do a final push to drop their collections ahead of the halving.

The highlight elsewhere is likely Oh Baby Games opening up their beta for broader game play.

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

• Genki (7:00 a.m. ET)
• Everyday Satoshis (9:00 a.m. ET)
• Kitsune (9:00 a.m. ET)
• Whitters - ordAR (11:00 a.m. ET)
• Oh Baby Games - Open beta (12:00 p.m. ET)
• Nathaniel Stern - forevery (12:00 p.m. ET)
• Kodamara Fusion (4:00 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 to tyler.warner@luckytrader.com.

Faraway is acquiring Yuga Labs's HV-MTL and Legends of The Mara IPs, aiming to enhance the IPs by introducing a new points system and more integrations following their acquisition from Yuga.

The Deets

• New Ownership: Faraway now owns HV-MTL and Legends of the Mara
• Points System: New 'HV-MTL Points' and 'LoTM Points' to be added to NFT metadata.
• Experienced Leadership: Spencer Tucker, a gaming veteran, joins Faraway as Chief Product Officer.
• Interoperability Focus: Enhancements include cross-game interactions within Faraway’s network.

The Bulk

Faraway, a seasoned game development team backed by prominent investors like Lightspeed, Sequoia, and a16z, officially acquired Yuga's gaming IPs, HV-MTL and Legends of the Mara. This acquisition is a part of Faraway’s strategy to build an ecosystem of interoperable games that reward player engagement and loyalty.

The introduction of a new points system is a significant first step in this integration. HV-MTL and Legends of the Mara NFTs will feature new metadata fields indicating point values, which are calculated based on various attributes such as class, companion, powerscore, and more. These points will play a crucial role in enhancing the utility and value of the NFTs within Faraway's gaming network.

Adding to the strategic depth, Spencer Tucker, known for his extensive experience in the gaming industry with companies like Glu and Scopely, will oversee the product development at Faraway. His expertise will be pivotal in ensuring the smooth integration of the newly acquired IPs and maintaining the original vision of the Yuga brands.

🎤 Founder Feedback

🔜 What's Next?

Faraway plans to integrate these IPs into its broader ecosystem, with more announcements expected in the upcoming seasons. 

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For more web3 and NFT news, visit the Lucky Trader newsfeed.

TylerD's Market Summary

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It's a huge unlock.

They recently crossed $100M in cumulative trading volume on the platform, so traders are figuring it out.

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💰 Arcade Launches Token, Begin Decentralization Journey

Airdrop April has been steamrolling along, with 3 airdrops landing yesterday from Parcl, Sharkyfi and Arcade.

While all 3 saw sell pressure on launch and dips as airdrop claimers sold, one has rebounded over 100% off the local bottom.

Arcade.

Let's look at why that may be happening.

What Happened?

Yesterday Arcade DAO's proposal to make its token $ARCD transferable passed and the token went live for trading.

This market the beginning of the decentralization journey for the Arcade protocol.

The team gamified the launch and included several rewards:

• $ARCD rewards for dApp users
• Time-locked variable staking rewards for holders who locked their airdrops for 30, 60 or 150 days
• LP staking reward for those contributing ARCD/WETH to the pool

They announced that Level 2 "Hidden Level" points are live and borrowers are actively earning them, with 9 more total levels to come.

And they also teased a new Clash of Claims game coming for Base ecosystem participants.

Rewards in spades, primarily for core Arcade users but also for strong adjacent communities.

With the launch, the Arcade protocol is formally in the hands of the DAO.

ArcadeDAO will govern key functions via the $ARCD governance token such as:

• Future distribution of $ARCD

• Management of the Arcade Treasury

• Supporting new collections

• Critical protocol functions and parameters

• Evolving the DAO and its governance powers

Tokenomics

For those interested in going a level deeper on the tokenomics:

• Total supply: 100M
• Community: 50.5M (50.5%), split across the DAO treasury (25.5%), airdrop and rewards (15%) and Arcade Foundation (10%)
• Arcade Development team: 16.6M (16.6%)
• Advisors and Backers: 32.9M (32.9%)

Regarding the airdrop, qualifying actions included basic NFT lending activities such as listing NFTs, creating Smart Vaults, borrowing, lending, and placing bids.

Eligible users can claim their tokens here.

Why It Matters

Arcade is the first marquee NFT lending protocol to officially decentralize and launch a token.

They've done over $200M in lifetime loan volume and have seen their active user count and weekly loan count grow consistently over time.

Their smart vault technology is a key differentiator of theirs, allowing users to store their NFTs in a vault and be able to claim any airdrops that register while their NFT is locked in a loan - a huge feature in this airdrop meta.

They have active plans to expand from ETH mainnet to other EVM chains (i.e. Base) and are actively building towards an Ordinals launch on Bitcoin.

In summary, they are one of the most innovative NFT lending protocols in the entire space.

And now they've decentralized, meaning anyone can help govern and shape the future of the protocol.

It's a big deal. 

So jump in and have your voice be heard as this new journey begins.

🚚 What else is happening in NFTs?

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

• Bitcoin led NFT trading volume with $17M on the day (-5%); ETH was next with $7.3M (+3%) and then Solana with $4.8M (+20%)
• Runestone led the BTC NFT board again and jumped 5% to 0.082 BTC; Rune Pups jumped 15% to 0.14 and new project Ailu soared to 0.04
• most Ordinals leaders fell 10-15%
• Bitcoin Wizards were a winner on the day following soaring $WZRD, briefly reaching 0.36 BTC before retracing to 0.3
• Memeland announced Runecoin as its first premiere Stakeland project, enabling users to go on quests to earn tokens; RSIC jumped 30% to 0.078 on the news
• Runevo minted out and announced it will release mobile-first runes tooling, will announce its prior investors soon and will convert the NFTs into Runes tokens post-halving (NFTs +150% from mint to 0.0077)
• Magic Eden added collection offers to Ordinals, a new feature for Bitcoin NFT trading
• ETH NFT leaders were mixed with BAYC and MAYC up 1% but Milady (-3%) and Pudgy (-1%) down
• Treeverse and alignDRAW were notable winners, each jumping 35%
• Yuga Labs gaming announced Kodamara fusion will begin on Thursday, April 18, along with cementing Ape Fest dates as Oct 18-20 in Lisbon
• Solana NFTs were mostly red on the day; Mad Lads -3% at 125 SOL, Tensorians -1% at 17, Jeo Bodens -14% to 6 SOL
• Deca launched "Leaderboards," allowing artists to easily highlight their top 250 collectors and partnering with Grant Yun on launch

💰 Token, Airdrop & Protocol Tracker

Here's a rundown of major token or airdrop news from the day:

• Parcl opened up its airdrop claim, with the token falling 50% in the first day to a $500M FDV
• Sharky also opened its airdrop claim with its token falling 35% to a $45M FDV
• Drift introduced its $DRIFT token as the governance token of its protocol along with the Drift DAO, with 100M DRIFT airdropped to users at launch
• Wasabi clarified its Points system and updated its dashboard so that users can see their current and cumulative points
• Liquidium announced a partnership with Luminex to help support Runes minting, etching and transferring upon launch
• Cryptoslam announced a strategic partnership with Magic Eden, inviting users who claim their Slam NFT with an ME wallet to receive a bonus NFT
• RuneX said its runes airdrop snapshot will happen early, now April 18

🌎 Around Crypto and Web3

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

• Crypto majors are slightly green this morning after a very volatile day; BTC +0.5% at $63,040; ETH even at $3,070; SOL +2.5% at $137
• Memecoin majors mostly chopped; DOGE even, WIF even, PEPE +1%
• $TRUMP jumped 17% to $250M mc after Roger Stone announced he had partnered with the team behind the token
• Coinbase Wallet added Solana DEX integration, meaning 50,000+ Sol tokens can now be traded easily within Coinbase infrastructure
• a16z announced a new $7.2B raise targeted at 5 of its "venture strategies"
• nWay, an Animoca Brands subsidiary, will launch Olympics™ Go! Paris 2024, a sports and simulation game available on PC and mobile devices

🚀 Memecoin Movers 

• $SC (+55%, $85M market cap, Base)
• $TOOKER (+34%, $77M market cap, Solana)
• $BODEN (+24%, $440M market cap, Solana)
• $PUPS (+24%, $450M market cap, BTC)
• $DEGEN (+20%, $350M market cap, Base)

📈 NFT Floor Price Increase (ETH)

• Supreme Kong (52%, 0.38 ETH Floor)
• Treeverse (37%, 0.4 ETH)
• alignDRAW (35%, 1.6 ETH)
• DeFi Apes (30%, 0.39 ETH)
• Defimons (25%, 0.3 ETH)

🗓 Upcoming NFT Mints and Reveals

Today is another busy day of drops and token launches. 

OMNI is launching this morning, going live for trading on Binance at 8 am ET.

Ordinals have another laundry list of drops today, likely highlighted by Gumbo World - but with many to choose from.

And a few Base launches as well, including Base Boomers.

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

• $OMNI (8:00 a.m. ET)
• Ordinal Rugs (9:30 a.m. ET)
• Bitdogs (10:00 a.m. ET)
• Memes by 6529 (11:00 a.m. ET)
• Gumbo World (11:00 a.m. ET)
• Base Boomers (1:00 p.m. ET)
• Travis Leroy - The Revenant (5:30 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 to tyler.warner@luckytrader.com.

ArcadeDAO officially launched its governance token $ARCD, now live on the Ethereum mainnet, enhancing its decentralization journey and now allowing for token transferability and trading. 

The Deets

• Governance Participation: $ARCD token holders can engage in decision-making.
• Staking Opportunities: Stake $ARCD or $ARCD/wETH LP tokens to earn rewards.
• Increased Liquidity: Liquidity providers earn $ARCD rewards on each block.
• Time-Locked Rewards: Earn more by locking in your staking duration.

The Bulk

ArcadeDAO has taken a significant leap forward by introducing its governance token $ARCD on the Ethereum mainnet and enabling transferability, trading, and staking. 

Now holders of $ARCD have multiple staking opportunities, including direct $ARCD staking and $ARCD/wETH liquidity pair (LP) staking on Uniswap V2, both of which allow users to earn $ARCD tokens as rewards.

Further, ArcadeDAO has introduced a unique time-lock feature in its staking process, allowing users to select specific time frames for staking their tokens, which in turn qualifies them for future rewards under the Arcade protocol. This approach not only secures long-term user involvement but also stabilizes the token's utility within the ecosystem.

Those who previously participated in Arcade's Level 1 can now claim $ARCD as well. Future users will have the opportunity to participate in up to 10 levels, promoting further growth and platform usage. 

🔜 What's Next?

ArcadeDAO plans to introduce additional features and levels for $ARCD staking, aiming to further incentivize and reward the community. In addition, the protocol aims to further build on Base and Bitcoin. Keep your eye out for the Base version of "Clash of Claims," offering users the opportunity to join $ARCD holders and participate in future governance. 

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For more web3 and NFT news, visit the Lucky Trader newsfeed.

nWay Games, an Animoca Brands subsidiary, announced the launch of Olympics™ Go! Paris 2024, a hybrid casual sports and simulation game licensed by the International Olympic Committee.

The Deets

• Hybrid Gameplay: Combines city-building with Olympic sports mini-games.
• Olympic Sports: Features 12 events including breaking, an official Olympic sport for the first time.
• Customization: Players manage and enhance their virtual cities and athletes.
• Soft Launch: Early access begins this month with perks for pre-registrations.

The Bulk

Olympics™ Go! Paris 2024 is set to deliver a blend of strategy and sportsmanship by allowing players to construct and evolve their own virtual cities while engaging in 12 different Olympic sports through thrilling mini-games. From traditional events like swimming and gymnastics to the newly included breaking competition, the game offers a diverse range of activities that reflect the true spirit of the Olympics.

The city-building aspect adds a strategic layer to the gameplay, where every building and upgrade can impact the athletes' performance. As players succeed in various sports, they unlock new buildings and abilities, enhancing both their city’s aesthetics and functionality. 

The game will soft launch later this month, with an eventual June rollout to mobile and PC users. A free digital collectible pin will be available to users as well. 

🎤 Founder Feedback

🔜 What's Next?

With the game's global launch set for June 2024, players can expect ongoing updates and enhancements leading up to the Olympic Games Paris 2024.

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For more web3 and NFT news, visit the Lucky Trader newsfeed.

Drift Protocol introduced $DRIFT, the protocol governance token which aims to shape the future of the world’s largest perpetual futures exchange on Solana.

The Deets

• Token Role: $DRIFT enables user governance and voting rights.
• Protocol Growth: From foundational DeFi project in 2021 to $350m TVL and >$20b in volume.
• Community Focus: Airdrop of 100M $DRIFT tokens to reward community loyalty and participation.
• DAO Structure: Innovative multi-branch DAO including Realms, Security Council, and Futarchy.

The Bulk

Drift Protocol launched details of its $DRIFT governance token as a cornerstone of its strategy to decentralize decision-making and enhance protocol growth.

This governance structure includes several branches: the Realms DAO focusing on development, the Security Council responsible for upgrades, and the Futarchy DAO which funds projects and grants. 

No official TGE was announced, but at that time 100 million $DRIFT tokens will be available to the community, 10% of the total token supply. 

📊 By the Numbers

Drift Protocol boasts a total value locked (TVL) of $350 million, serves over 180,000 traders, and has handled more than $20 billion in trading volume since its inception.

🎤 Founder Feedbac

 

🔜 What's Next?

 Details on how to check and claim the $DRIFT airdrop will be announced soon, with further expansions on DAO functionalities and tokenomics to follow.

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For more web3 and NFT news, visit the Lucky Trader newsfeed.

TylerD's Market Summary

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🟠 Franklin Templeton Bull Posts Runes

The halving is sneaking up on us, currently scheduled for Friday at 3 pm ET.

With the halving comes the launch of Bitcoin's new fungible token standard, the Runes protocol.

And it's finally caught the attention of some major institutions.

What Happened?

Yesterday Franklin Templeton's Digital Assets account posted a quick 2-pager explaining the evolution of Ordinals on Bitcoin, the launch of Runes, what it solves and the potential opportunity.

It's a very concise, well written post and I highly recommend giving it a quick read for those who want to learn more about Runes.

Here's what stood out to me from their post:

• The explosion in Bitcoin's NFT market cap to $2B after the launch of Ordinals (though it took ~12 months to really take off)
• The problems Runes solve (avoiding junk UXTOs, lower fees & lightning network compatibility)
• The comparison between fungible token market caps on ETH ($499B), Solana ($37B) and Bitcoin ($0.6B)

The simple data referenced in the paper really do tell a convincing story.

Why It Matters

Ordinals have proven that there is demand for an economy on Bitcoin.

Collectibles, art and utility NFTs have thrived on Bitcoin this year and have greatly outperformed their peers on ETH and Solana.

It's not a stretch to think that fungible tokens could see similar success.

Bitcoin does have BRC-20s, but those trade like non-fungible tokens more than fungible ones.

There is some debate over how much the trading experience with Runes will improve vs the current state with BRC-20s.

But if the experience does improve, with factors like more fungible trading (ability to sell 1 token as easily as 100) and better UX, it should attract more participants.

The discrepancy between the fungible token markets on ETH and Solana vs Bitcoin is striking, especially with the most wealth on Bitcoin.

Let's check back in on that chart in 6 months - I'm willing to bet Bitcoin has made up a lot of ground,

🚚 What else is happening in NFTs?

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

• Bitcoin led NFT trading volume with $17.7M on the day (-12%); ETH was next with $7.7M (even) and then Solana with $4M (+54%)
• Runestone led the BTC NFT board again and held at 0.078 BTC; most Ordinals leaders fell 10-15%
• Pizza Ninjas were a winner, reaching 0.175 BTC (0.2 at peak), up 150% on the week as the team has leaned into more education
• Magisat launched the first ever memepool marketplace for Ordinals to help avoid mempool sniping (or at least level the playing field)
• ETH NFT leaders were mixed with BAYC and Pudgy up 7% and 3% respectively, but Azuki -8% and Captains -3%
• Remilio's were a notable winner, up 16% to 1.83 ETH; Ceden Keystone Beavers were up 30% to 0.22 ETH as well
• Solana NFTs were mostly red on the day; Mad Lads -2% at 128 SOL, Tensorians even at 18, Jeo Bodens -16% to 7 SOL
• Arcade teased a Base integration again yesterday in a cryptic post
• NBA Top Shot launched Stress Test packs for $1 each
• Punk6529 introduced subscription minting for his Memes by 6529, allowing users to pay without gas fees and receive he 3x-weekly mints

💰 Token, Airdrop & Points Tracker

Here's a rundown of major token or airdrop news from the day:

• Parcl opened up a claim checker showing how many tokens users have ahead of today's $PRCL TGE
• Sharkyfi shared its Jupiter LFG launchpad site allowing users to see their airdrop allocations, set up DCA and more ahead of today's airdrop
• WZRD led action in BRC-20s once again, jumping 50%+ off local bottom back to $7.68 ($160M mc)

🌎 Around Crypto and Web3

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

• Crypto majors are very red this morning as the Middle East crisis heated back up yesterday; BTC -5% at $62,770; ETH -5.6% at $3,070; SOL -13% at $133
• Memecoin majors were red as well; DOGE -6%, WIF -15%, PEPE -10%
• Elon teased Doge being a top 10 crypto token on the same day X announced new users having to pay "a small amount" to use the platform
• Arbitrum announced Arbitrum Bold enabling permissionless proving and moving towards a more decentralized L2 experience
• A warning went out for Trust Wallet users involving imessage and a potential attack vector
• Franklin Templeton shared a basic primer for Runes along with the potential bull case

🚀 Memecoin Movers 

• $RWA (+220%, $12M market cap, Base)
• $EPIK (+60%, $45M market cap, Solana)
• $RAIL (+48%, $69M market cap, ETH)
• $ANDY (+46%, $90M market cap, ETH)
• $SHARK (+20%, $64M market cap, Solana)

📈 NFT Floor Price Increase (ETH)

• Co-Museum (40%, 0.14 ETH Floor)
• CEDEN Keystone Beavers (34%, 0.22 ETH)
• The Grapes (31%, 0.32 ETH)
• Remilio (16%, 1.78 ETH)
• Honey Comb (11%, 0.33 ETH)

🗓 Upcoming NFT Mints and Reveals

Today is a very busy day of drops and token launches. 

PARCL and SHARK debut this morning on Solana in (hopefully) a nice stimmy for those who heavily used (farmed) those protocols.

Then there is a laundry list of drops on Bitcoin today, as teams race to launch pre-halving.

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

• $SHARK (7:00 a.m. ET)
• $PARCL (9:00 a.m. ET)
• Ordzaar (10:00 A.m. ET)
• ExtraOrdinals (10:00 a.m. ET)
• Runes Heroes (1:00 p.m. ET)
• Sabet - Tokyo Punks (1:00 p.m. ET)
• We Are So Ducked (2:00 p.m. ET)
• Marco Mori - Based Creeptures (3:00 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 to tyler.warner@luckytrader.com.