Crypto To Your Bank Account in Minutes
Crypto To Your Bank Account in Minutes
MetaMask just made the crypto off-ramping process significantly easier and faster. Learn about what happened plus what other features they've been building.
TylerD's Market Summary
GM!
Today's top news includes:
MetaMask adds Sell feature for easier off ramping
Winds of Yawanawa soars past 10 ETH
Yuga debuts new cipher puzzle series tied to TwelveFold
Luca forecasts $10M in Pudgy toy sales
Visa expands stablecoin settlement to Solana
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💸 MetaMask Makes Selling Easier
The leading crypto wallet provider is stepping up its game.
Yesterday, MetaMask made the major announcement introducing its Sell feature.
With Sell, MetaMask users can convert crypto into fiat and send it to their bank accounts in just a few steps.
The crypto offramp just became much faster and easier.
What Happened?
MetaMask continues to add functionality to its Portfolio.
With Sell, users in the U.S., U.K and Europe can now cash out Ether for fiat - and send it to their bank account or to PayPal.
Combined with their buy feature, MetaMask is creating a bit of a one-stop-shop for onramping and offramping to and from crypto (with restrictions, including size limits).
A few clarifying details:
The Sell feature is just available on ETH mainnet and for ETH conversions right now
While they plan to roll out globally, it's just for US, UK and Europe residents to start
The process is 10 steps (can be found here) but fairly straightforward. And while the MetaMask blog lists PayPal as an offramp option, only MoonPay and Transak are listed in their Portfolio roadmap.
Reviewing that Portfolio roadmap was eye-opening though - Buy and Sell are just the latest in a laundry list of features.
What Else?
Quietly, MetaMask has built up quite a bit of functionality. Their core features, highlighted in the Portfolio rollout, include:
Dashboard: provides a consolidated view of assets, transactions, tokens, and NFTs across networks, acting as a personal control panel for users.
Swap: feature allows users to exchange tokens conveniently within the portfolio, pulling quotes from top DEXs and offering options across six networks.
Bridge: offers a simplified process to move funds between networks, covering six chains and aggregating quotes from four decentralized bridge protocols.
Stake: consolidates staking rates and rewards from various providers, enabling users to easily stake Ethereum and MATIC, diversify staking strategies, and optimize rewards in a single platform.
Buy: facilitates instant conversion of fiat to crypto through trusted providers, supporting 13 different networks including PayPal, Moonpay, and Transak amongst others.
Sell: enables rapid conversion of crypto back to fiat, initially available in the US, UK, and Europe.
These features position MetaMask Portfolio as a comprehensive tool for managing crypto assets.
The incumbent wallet provider for the crypto masses isn't looking to give up market share without a fight.
Why It Matters
Easier onramping and offramping make the crypto experience better.
A better experience is more likely to lead to more users.
And beyond just the sell feature, MetaMask is approaching one-stop-shop status for a majority of basic crypto trading and DeFi needs. Or at a minimum, a major launchpad to get into those arenas.
When the next crypto bull cycle comes around, the infrastructure will be better. That is pretty much guaranteed.
Now - wen airdrop?
🚚 What else is happening in NFTs?
Here is the list of other notable headlines from the day in NFTs:
Trading volume came in at 5,000 ETH on Tuesday; NFTs saw a mix of red and green, with top movers led by Winds of Yawanawa (10.65 ETH floor) and Sam Spratt Players (7.33 ETH)
Yuga Labs launched a TwelveFold-inspired 13-week cipher puzzle series with Bitcoin prizes; the weekly release of "Moon Puzzles" are open to everyone and users must submit answers inscribed onto satoshis via Ordinal Theory
Zed Run laid out a plan for a revamped future, including new product direction, better communication, a 3rd party development studio and major enhancements including 3rd party wagering
Casio is launching VIRTUAL G-SHOCK, an interactive community that blends the iconic watch brand with NFTs and the metaverse; it's starting with 15,000 G-SHOCK Creator Pass NFTs to be distributed for free on Polygon, with a design contest and more to come
Luca Netz took the stage at Korea Blockchain Week and forecasted $10M in Pudgy toy sales this year, challenging other founders to answer the question if they're contributing to or taking from the space
Creator League has been put on pause due to recent NFT and blockchain backlash from partners and the community
Mercedes-Benz delayed its NXT Icons mint, citing website security concerns; a new date and time for the mint has not yet been announced
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
The crypto market chopped on the day; BTC even at $25,740; ETH even at $1,634
Coinbase's Base L2 had its first major outage on Tuesday evening, lasting nearly 45 minutes
Visa is expanding its stablecoin settlement capabilities to include the Solana blockchain; Visa cited its millisecond block times and high transaction speed as drivers of efficiency and cost-effectiveness
Tiger Research and Animoca Brands formed a strategic partnership to spearhead web3 initiatives in South Korea's dynamic tech landscape
Lufthansa Innovation Hub's latest venture, Uptrip, launched a unique loyalty program that rewards flyers with NFT trading cards on Polygon; so far they've issued 200k+ trading card NFTs to over 20k users
🚀 NFT Total Volume
BAYC (804 ETH, 27.26 ETH Floor)
MAYC (701 ETH, 5.33 ETH)
Milady (487 ETH, 3.32 ETH)
DeGods (484 ETH, 4.32 ETH)
Azuki (167 ETH, 4.2 ETH)
📈 NFT Floor Price Increase
Winds of Yawanawa (28%, 10.55 ETH Floor)
Consortium Key (28%, 1.5 ETH)
Velocity Pass (20%, 0.84 ETH)
Sproto Gremlins (19%, 0.94 ETH)
Sam Spratt "Players" (13%, 7.33 ETH)
🗓 Upcoming NFT Mints and Reveals
Today is a huge day of drops and events, mostly focused in the art sector.
Two major exhibits are opening, with adidas Residency starting and Claire Silver's Unit London Exhibition called E-motions debuting today. adidas Residency will feature curated artists dropping limited edition mints, several days this week and some live at Korea Blockchain Week.
Today features the weekly Meme card, Floor mint, and Noble Gallery drop.
In sports, DraftKings Reignmakers is back with its Rush Pack drop with sets tailored to the Thursday showdown, weekend and full slate.
And the highlight today may be the Art Blocks Curated "Torrent." The very aesthetic collection is 300 in supply and will sell in a Dutch auction. Given the recent success of Winds and Sam Spratt, the market is ripe for a new art mint to take off.
If you want more, see the full list of today's drops from Swizzy's daily mint monitor.
adidas Residency (7:00 a.m. ET)
Memes by 6529 (11:00 a.m. ET)
Floor x Axstone (12:00 p.m. ET)
DraftKings Reignmakers - Rush Pack (12:00 p.m. ET)
Claire Silver - E-motions Exhibit (12:00 p.m. ET)
Jeyramm x Noble Gallery "Rise" (12:00 p.m. ET)
Art Blocks Curated - "Torrent" (1:00 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.
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.