Latest You The Real MVP News

9GAG, the company behind Memeland, has filed a trademark application with the United States Patent and Trademark Office involving "digital tokens as proof of fandom," as pointed out by trademark and copyright attorney NeerMcD.eth this morning.

❗ Why It Matters

The trademark application offers a glimpse into the future plans of one of the space's largest brands.

🔎 The Deets

Mentioned in the application are the following items:

• Providing an online non-downloadable computer software platform for the creation and distribution of digital tokens as the proof of fandom.
• Online non-downloadable computer software platform for customization of digital token metadata and enabling selectable distribution methods for digital tokens.
• Platform as a service and software as a service featuring software platforms for providing access to fandom groups, social media, virtual environments, digital arts, crypto-collectibles, non-fungible tokens, application tokens and digital currencies.
• Administration of a customer loyalty program that provides rewards.

So what exactly does 9GAG have in mind here? 9GAGCEO was tight-lipped on the issue:

🕳️Go Deeper

• A Comprehensive Guide to Memeland

The Captainz reveal process is skipping the Jolly Roger stage, and Potatoz Questing launches next week, according to 9GAGCEO's announcement in the Memeland Discord today.

❗ Why It Matters

There had been speculation that the Jolly Roger reveal would occur this weekend. This would've been an intermediary stage in which the flag, faction, and crew of a Captainz would be revealed (and then the full reveal would've been for the PFP, with full traits and rarities). But 9GAGCEO said today that they've updated the reveal process, and that there will be more details to follow.

Today's update also included 2 other components. Starting next week, Potatoz will be able to embark on their own quests and get "Valuables" that they keep with them (similar to Captainz' ability to hold and quest for Mapz). And more color has been given about "Potions".

🔍 The Details

• Jolly Roger Reveal
  • Updated the reveal process, based on community feedback
  • Reveal is still occurring in stages, it's just skipping Stage 2 [which had previously been floated as a possibility]
  •  “The construction of a palace takes more time than an ordinary building" 🏗️
• Potions
  • Only questing Super Crew (1 MVP + 9 Captainz + 27 Potatoz) and Full Crew (1 Captainz + 3 Potatoz) can find Potions
    • Questing Super Crews can find 1 Potion every 7 days (from the day of their formation)
    • Questing Full Crews have a chance to find the 6 Potions every week
  •  There are 9 different rarities of potions: Galaxy, Prototype, Yin Yang, Clear, Gold, Green, Red, Blue, Yellow
  • "Potions are for [redacted]"
• Potatoz Questing and Valuables
  
  • Potatoz Questing launches next week
  • Potatoz get a "Valuable" every 7 days when they're questing (even if they don't have a Captainz attached)
  • Potatoz bring their Valuables with them even when they're moved or traded, similar to Captainz and Maps
  • Existing raffle tickets (without the MVP boost) will be converted to Valuables
  • "Valuables are for [redacted]"

🧠 Learn More

• A Comprehensive Guide to Memeland (LT Ecosystem Guide)
• Treasure Mapz Transfer is Live
• Memeland: Treasure Mapz Are Secretly Related to $MEME
• Memeland: Questing Is Live
• Buried Treasure Awaits?

The Memeland Twitter account announced this morning that the project had placed a 999 WETH bid on the "Golden Key," a 1-of-1 item won by pro gamer Mongraal for his top score in Yuga Labs' Dookey Dash game.

🔍 Need to Know

• Yesterday, Mongraal let a 690 WETH bid placed on the item by Pixel Vault's UPDAO expire. At the time, Mongraal said, "Double it and I'll accept."
• While today's bid from 9GAG doesn't double the previous offer, will Mongraal turn down $1.6m for The Key?
• The latest bid was placed around 1:00 AM ET this morning and Mongraal has yet to acknowledge it on Twitter.

🎤 Community Feedback

🕳️ Go Deeper

• A Decision to Make
• Scores Verified, What Doo(key) Do Now?
• Mongraal's No. 1

Memeland has generated the second most revenue among NFT "brands" from royalty fees over the past 30 days after lowering the royalty percentage collected on projects in its ecosystem from 9 to 3.3% two weeks ago.

❓ Wait, What?

Definitive, a data partner to Lucky Trader, has aggregated individual NFT projects into "brands," allowing us to track royalties earned by each brand. The Memeland brand includes the Captainz, Potatoz and You The Real MVP collections.

❗Why It Matters

When Memeland decided to lower its royalty fee rates earlier this month, it was seen as a pro-collector move, and the market has responded positively.

📊 By the Numbers

• Memeland trails only Yuga Labs in royalties earned over both the past month and past week.
• According to data pulled from Definitive, Memeland has generated $111k in royalties over the past week and $725k over the past 30 days.
• RTFKT is hot on Memeland's heels, with $110k earned over the past week.

🧠 Learn More

• Memeland Traders Win
• Check out Definitive's tools here

Memeland has lowered the creator royalty on its NFT collections from nine to 3.3 percent, as confirmed by the OpenSea collection pages and a tweet from the project. 

❗Why It Matters

A drop in creator royalties significantly impacts the margins of every NFT traded within the Memeland ecosystem making the NFTs more easily tradeable on secondary markets. Previously, a 1 ETH trade yielded the seller just 0.885 after the creator royalty and OpenSea fee. Now a similar trade would net the seller 0.942, a notable increase across a high volume of sales.

🎤 Community Quotes

📊 By the Numbers

Volume had stalled in the last week on Memeland's most recent drop, Captainz. The collection saw a 55 percent decrease in volume traded on OpenSea during the time period. 

Since the launch of Captainz, Memeland had pulled in $1.39 million in royalties on the collection according to data from Definitive.io. 

Moving forward, the project will need to trade nearly three times the volume to earn the same share. 

🔥Hot Taek

Although the community was clamoring for lower creator royalties (as evidenced by the above quote), my "hot take" is that this announcement comes more on the heels of the recent Blur bypass that allows previously blocked collections - like all the Memeland assets -  to trade outside the "protected zone" of royalty enforcement. 

🧠 Learn More

• Memeland Questing Is Live
• Treasure Mapz Related to $MEME

In a Wednesday morning tweet, the @Memeland Twitter account expanded on the types of Treasure Mapz that are available, and teased an integration with the project's upcoming $MEME token.

❗ Why it Matters

Mapz were provided to Captainz allowlist holders and minters (successful and unsuccessful). Today's update sheds light on the role these Mapz may play in the ecosystem.

🧠 Need to Know

• Mapz come in five types: Mythical, Epic, Magical, Extraordinary and Special.
• In the tweet, Memeland says Mapz "are secretly related to $MEME, NFTs, special utilies and more."
• Treasure Mapz can currently be viewed on the Memeland Dashboard.
• Since the Mapz airdrop, the floor price of Captainz is down 22% to 3.73 ETH, while Potatoz are down 14% to 1.69 ETH.

🕳️ Go Deeper

• Buried Treasure Awaits?
• Memeland Questing Is Live

All Treasure Mapz have been airdropped to all Captainz waitlist holders, according to a tweet from Memeland this morning. 

Why It Matters: Treasure Mapz are being provided to all waitlist holders and anyone who joined the Captainz mint, even if they were unsuccessful in minting a Captainz, providing an entry to the Memeland ecosystem for a variety of new holders. 

Action Items: 

• To claim their Treasure Mapz, users can check the dashboard on Memeland.com with their mint wallet. 
• Users can also claim one extra Mapz by opting into the "I Got a Mapz" social campaign, offered within the dashboard on Memeland. 

What's Next: Memeland is currently working on a feature that allows users to send (and perhaps trade?) their Treasure Mapz. 

By The Numbers: The Memeland ecosystem has had a volatile week, below find the respective floor prices at the time of writing:

• Potatoz, 1.94 ETH
• You The Real MVP, 38 ETH
• Captainz, 5.00 ETH

Captainz NFTs will be airdropped and refunds claimable in 24 hours, according to a tweet from Memeland. 

Why It Matters: Now that the Memeland mint has concluded, much of the liquidity locked into mint reservations will be refunded to unsuccessful minters, and trading of Captainz NFTs will begin. 

Action Items: 

• Successful Captainz Minters: Those eligible who successfully reserved a Captainz NFT will not need to take any action to receive their Captainz NFT. Each Captainz NFT will be airdropped to their wallet within the next 24 hours. 
• Unsuccessful Captainz Minters: Those who were unsuccessful in reserving a Captainz NFT, or did not retrieve the full allotment of Captainz that they attempted to reserve, will be eligible to claim a refund equal to the amount of unused ETH on Memeland.com. Those eligible to claim refunds will have 69 days to do so. 

What's Next: 

• Captainz will be airdropped as unrevealed treasure chests to start.
• Treasure Mapz will be airdropped to all mint participants - both successful, and unsuccessful minters. 

Memeland officially shared mint instructions for its upcoming Captainz mint this morning. 

The mint will start at 11:00 a.m. ET and will take place exclusively on memeland.com/mint.

If eligible to mint, users can head to the mint site at 11:00 a.m. ET, connect their wallet and approve a mint transaction for 1.069 ETH per Captainz NFT they wish or are eligible to claim. 

After doing so, users can claim then claim a Treasure Mapz. All those participating in the mint will be allocated a Mapz, even if they do not ultimately receive a Captainz NFT. 

Over the 48-hour mint period, 9,169 Captainz will be available for mint to eligible parties, with the remaining 830 Captainz heading to the Memeland treasury. 

Any paying user who does not receive a Captainz NFT will be refunded the cost of the Captainz at the end of the 48-hour mint period. 

Memeland will take a snapshot of all Potatoz and You the Real MVP NFT holders around 11:00 a.m. ET, according to a tweet from the company. 

The snapshot will determine eligibility for the Jan. 4 Captainz mint, capturing all public Ethereum addresses holding the aforementioned NFTs at 11:00 a.m. ET.

Unlike other snapshots, Memeland cautioned holders that they will need to maintain ownership of the same NFTs in the same wallet as captured at the time of the snapshot in order to receive their Captainz NFTs and respective priority (Memelist, Potatoz, etc). 

The Captainz mint will take place on Wednesday, Jan. 4 starting at 11:00 a.m. ET. The mint will be open for 48 hours, ending on Friday, Jan. 6 at 11:00 a.m. ET. 

More details on the mint mechanics are expected shortly.