April Is For Airdrops
Plus catch on some major Blast and Bitcoin token winners.
TylerD's Market Summary
GM!
Today's top news:
$TNSR airdrop opens at $1.87B FDV, mixed reactions
Solana NFT volume jumps 150% post-$TNSR
$PUPS token soars 50% and Puppets find new ATH
Beeple memorializes $PAC in Everyday, jump 30%
WIF Perps launch on Gemini
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🎁 Airdrop April Is Just Getting Started
We used to pray for times like this.
At least back in the brutal bear market of 2023.
Now free money is raining from the sky on a near daily basis, and it doesn't seem to be slowing down.
What Happened?
Yesterday was a marquee day for airdrops.
The Tensor $TNSR claim went live around 11 am ET
Another surprise airdrop was announced for tomorrow from Kreatorhood
NFTfi released their tokenomics ahead of an April claim.
$KHOOD and $NFTFI now add to a list of confirmed airdrops for this month which includes $FRIEND, $KMNO, $ARCADE, $SAGA, $GAM3S, $NIM and potentially a few others ($PRCL, $ARENA).
Airdrop April is living up to its name.
Tensor Airdrop Lands With Mixed Reactions
You know it's a bull market when people are complaining about free money.
That's what happened yesterday after many who held Tensorians were disappointed with the $TNSR allotments given to NFT holders vs traders (farmers).
This led to a 50% sell-off on the Tensorian NFTs, now at 20 SOL (down over 80% from peak).
The $TNSR token itself did pretty well, opening at $1.40, briefly spiking over $2 before settling in the $1.70-$1.80 range for most of the day (now $1.87).
That equates to a whopping $1.87B FDV.
Not bad for a protocol which is 5th in weekly NFT volume (4th on the month) and holds just a 7% market share.
To be fair, reactions from those who had lower expectations were much more positive. It was just the loud minority who stood out on the timeline.
Now we wait to see where the rotation goes, and early indicators are that NFTs are a winner (Sol NFT volume spiked 150% on the day).
KreatorHood Announces $KHOOD for April 10
Kreatorhood is ready for launch!
The team announced their TGE for April 10, along with the fact that they've raised $7M+ and have a laundry list of advisors including OSF, Mando, Pranksy, Wiz of Soho and more.
While not formally spelled out, rumors are swirling that the airdrop will include:
Activity on the platform (KHOOD points)
Historical ETH NFT volume/activity
Future tokens will be earned by using the Kreatorhood marketplace.
Given the team's raise and pedigree, this could be a surprise winner for lucky airdrop recipients tomorrow.
NFTfi Releases Tokenomics
The NFTfi Foundation made a major announcement yesterday, releasing the tokenomics and upcoming plans for the foundation.
Here's the TLDR:
Ticker: NFTFI
Chain: ETH
Supply: 2B
Initial Circulating: 220M
Claim date: April 2024 (TBD)*
Token allocations: 25% to community, 23.3% foundation, 35% backers and supporters, 16% core contributors
Points for OG & Season 1-3 noted below
Incentives to stake and hold tokens for more Season 3 points
*TGE occurred on March 19th but the token is not transferable yet
Here's the breakdown of tokens for each Season:
OG: 40M tokens
Season 1: 80M
Season 2: 20M
Season 3: 30M
So there will be an additional 30M up for grabs during the initial claim and post-claim window.
Initial reactions - these seem like pretty good tokenomics for NFTfi users. The supporters and team get a healthy chunk, but most do not unlock at the TGE.
The open detail right now is if the tokens will be transferable at the claim or if there will be a lock up (like Arcade did).
We will find out soon...
🚚 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 $19.2M on the day (+6%); ETH was next with $10.5M (+18%) and then Solana with $10.4M (+150%)
Runestone led volume on the BTC NFT board with 128 BTC volume and jumped to 0.081 BTC; Rune Pups were next, soaring 40% to 0.084
Bitcoin Puppets reached a new ATH at 0.412 BTC ($29.1k) as the $PUPS token soared to $36 overnight ($288M market cap)
ETH NFT leaders were mixed with BAYC +8% to 12.45 but Pudgy -5% to 11.75, Milady -10%
Kanpai Pandas led notable top movers, jumping 27% to 2.3 ETH
Solana NFTs were very mixed after the $TNSR airdrop; Mad Lads evem at 121 SOL, Tensorians -50% at 21, Magic Ticket +20% and Kanpai +20%
Magic Eden rolled out support for Pre-Runes on its Bitcoin marketplace, identifying each of the projects which will have Runes tokens
Animoca Brands is partnering with Imaginary Ones to help with tokenomics and building "an inventive airdrop campaign"
Parallel announced Parallel League, a global tournament series with $500,000 in prizes
💰 Token, Airdrop & Points Tracker
Here's a rundown of major token or airdrop news from the day:
$TNSR had a roller coaster first day of trading post-airdrop, going as high as $2.50 before settling at $1.87 this morning ($1.87B FDV)
Kreatorhood announced its airdrop will take place on April 10th, along with its $7M raise and laundry list of advisors
nftperp went live for public trading requiring no invite access codes and will also come along with a new incentive program
Wasabi crossed $100M in lifetime trading volume on its platform
FriendTech's $FRIEND is trading at $7 on Hyperliquid pre-market
*Edit: This is the FRIEND index of top keys, not the points
MetaStreet teased its next ASCEND Tower following Punks and Penguins
SharkyFi announced its season 2 will end on Wednesday along with a new lottery
Omni Network teased a snapshot (and airdrop) for Pudgy Penguins holders
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
Crypto majors are red this morning; BTC -2% at $70,800; ETH even at $3,630; SOL -3.5% at $176
Memecoin majors were mostly red after an evening sell off; WIF -3% at $3.99, PEPE -4.5%, BODEN +3%
Solana memes were nearly all red as congestion in the network has made trading nearly unbearable
Ethena introduced Season 2, where users who lock $ENA at a minimum of 50% of their total USDe holdings will receive 50% increase in their rewards & the highest number of rewards per day of any pool
WIF Perps launched on Gemini Derivatives on Monday
1inch is launching a crypto debit card in partnership with Baanx, powered by Mastercard
Ritual Net closed a strategic investment round with Polychain AI to accelerate decentralized AI
Illuvium partnered with Samsung to bridge the Digital and Physical Worlds
🚀 Memecoin Movers (new section!)
$BORED (+100%, $29M market cap, Base)
$PAC (+64%, $30M mc, Blast)
$PUPS (+50%, $287M market cap, Bitcoin)
$FRENPET (17%, $71M market cap, Base)
$TREMP (+8%, $80M mc, Solana)
📈 NFT Floor Price Increase (ETH)
Ethlizards Genesis (66%, 2.99 ETH Floor)
Karma (50%, 0.2 ETH)
Hape Prime (32%, 0.33 ETH)
Kanpai Pandas (26%, 2.3 ETH)
loomlock (26%, 0.57 ETH)
🗓 Upcoming NFT Mints and Reveals
Today is another busy day for token drops and new mints.
Both $SAGA and $GAM3S get airdropped (or claims open) this morning.
Blast Runners launches on Base (room for NFT demand) and Artifakt comes for Bitcoin.
See the full list and dive in for more details with Swizzy's daily mint monitor.
$SAGA (4:00 a.m. ET)
$GAM3S (6:00 a.m. ET)
Blast Runners (7:00 a.m. ET)
Sheipi - The Cabal (10:00 a.m. ET)
Noderunners (12:00 p.m. ET)
Medusa - Artifakt (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.