Deca Introduces New Ways to Collect & Create
Deca Introduces New Ways to Collect & Create
The digital art market is becoming more and more fun to participate in, with new innovations coming by the week. Read on to find out the latest new creator options from Deca.
TylerD's Market Summary
GM!
Today's top news includes:
Deca introduces new mint mechanics with On Demand & Posters
Avant Art shares details on Punks collab, physical prints coming
ENS launched a significant update related to ownership
Reddit faces an Insider trading scandal related to its community points
Stars Arena TVL drops to $1M in large exodus event, other SocialFI TVLs benefit
🖼 Deca Introduces Mint on Demand & Posters
Artists and art protocols continue to innovate through this bear market.
Deca is the latest, looking to shift the 1/1 creation and collecting process and allow more widespread participation in high-demand pieces.
Their new solution?
Mint On Demand and Posters.
The Details
There are two parts to this major announcement - Mint on Demand and the Posters.
Mint on Demand works like this:
Artists upload their work(s)
Collectors place bids
Artists accept the offer they like best (whenever they want)
The buyer mints & sale is complete
While that process might not be wildly different from existing mechanics, the Poster component is.
When art mints On Demand with Deca, Posters launch.
Posters work like this:
Artist uploads their 1/1 (same process as above)
Creators submit custom posters paying homage to the 1/1
Artist selects which posters can mint
After the 1/1 sells, everyone can mint posters for a limited time
Poster sales are shared between the artist + 1/1 owner + creator + Deca, and effectively act as a time-limited open edition.
The twist is, there can be multiple unique designs and new ones can be submitted in an ongoing fashion.
Posters cost 0.01 ETH to mint with slightly different fee splits for non-custom designs (created by the artist) and custom designs (created by community members).
Why It Matters
The digital art creation and collection process continue to be enhanced.
Artists have more options than ever to create, and collectors have more and more ways to participate.
And now, collectors can even take active roles in creation by submitting poster designs (which can turn into open editions and can generate revenue).
Everyone can benefit, everyone can benefit.
Nice work Deca!
👥 Friend Tech Trend Tracker
Friend Tech buyers showed up for the first time in almost a week, amidst a disastrous day for the Arena. And new SocialFI apps have already benefited.
Here are some of the core Friend Tech metrics for 10/19 and their day-over-day change:
Return users: 3,372 -> 4,410 (+30%)
Daily Buy volume: $1.34M -> $1.5M (+12%)
Total Volume: $2.78M -> $2.66M (-4%)
TVL: $44.06M -> $43.37M (-2%)
Highest key: Vombatus 8.33 -> 8.33 (even)
*TVL in ETH terms 27,834 -> 27,919 ETH (+0.3%)
Buyers outweighed sellers for the 1st time in 5 days, likely on the back of CBB Bull's buying spree one day after launch.
The other news tied to the Bull and CBB - they're launching an NFT collection called the "Cooking Bull Brotherhood."
Holding the CBB Bull key will provide access to 3 NFTs. A few details:
legendary traits will give exclusive perks for CBB key holders
only way to mint and hold the NFTs is via the CBB Bull key
Buying a Bull key equates to minting 3 NFTs, but selling burns 3 NFTs forever
the artist behind the collection is Froggy Cyborg
NFTs not transferable until end of FT airdrop season
Think what you want about CBB, but very few are showing up and doing more innovative things with Friend Tech than they are.
In other news, Stars Arena faced a disaster day.
After mostly holding up overnight, the lack of a working website and comms from the team seemingly led to a broad sell off.
TVL dropped from ~$2M to $1M as sellers pulled out of the Avax app.
Now the key questions - what would drive users to return to the Arena? And how are other SocialFI apps impacted?
Well on that 2nd question, both New Bitcoin City (+12% to $1.86M) and Tomo (+12% to $1.49M) saw their TVLs jump on the day, both flipping the Arena.
These seem to be in the best position to benefit, along with new joiners (Solmates just opened up on Solana and TurnUp debuts tomorrow in closed beta).
As for the impact on market leader Friend Tech - that remains to be seen.
🚚 What else is happening in NFTs?
Here is the list of other notable headlines from the day in NFTs:
Trading volume fell 5% to $7.15M (4,600 ETH) on Wednesday; the leaderboard was mostly red with Pudgy Penguins and Winds of Yawanawa notable losers down 7% and 11%
Art projects Sabotage by Kim Asendorf and Nina's Super Cool World led top movers on the day, +175% and +60% respectively
Sugartown Oras spiked 24% to 0.22 ETH ahead of today's reveal event, while Captainz keep edging up ahead of $MEME launch (now 4 ETH)
Avant Art shared details around their 1st collab with CryptoPunks, dropping physical print editions of all 10,000 Punks available starting Oct 26
Flooring Protocol added valuation estimates in partnership with DeepNFTValue, helping owners decide whether to use the Vault or Safebox
Pixelmon is launching "Kevin the Adventure," a hypercasual side-scrolling game featuring their infamous character Kevin on Oct. 24, where players will have a chance to compete for over $10,000 USDC in prizes
Ethereum Name Service (ENS) launched a significant update to its app, enhancing how ownership is displayed and managed, improved role management, easier send functionality and more
Long-term NFT loans are thriving, with NFTfi announcing 3 more 2-year Squiggle loans ranging from 9% to 15% APR; Gondi also announcing a new $80,000 loan against a Beanie CryptoPunk at 12.4% for 1 year
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
The crypto market mostly chopped again on Wednesday; BTC +0.2% at $28,440; ETH -2% at $1,550; SOL -0.2% at $23.95
The $BLUR token briefly pumped 27% to $0.21 on big volume yesterday morning before settling back at $0.18 (even on the day)
Insider trading apparently happened with the Reddit announcement related to the sunsetting of their Community Points program, with a few mods selling their tokens before the news went public
Forge announced an $11M seed funding raise, led by Animoca Brands, Makers Fund, and Bitkraft
🚀 NFT Total Volume
BAYC (1,223 ETH, 24.97 ETH Floor)
Pudgy Penguins (508 ETH, 4.98 ETH)
DeGods (402 ETH, 3.19 ETH)
MAYC (338 ETH, 4.81 ETH)
Winds of Yawanawa (236 ETH, 8.9 ETH)
📈 NFT Floor Price Increase
Sabotage by Kim Asendorf (175%, 2.19 ETH Floor)
PX Quest (107%, 0.12 ETH)
Nina's Super Cool World (60%, 0.54 ETH)
Farm Land by Pixels (48%, 0.23 ETH)
The Grapes (36%, 0.57 ETH)
🗓 Upcoming NFT Mints and Reveals
Drops today are mostly in the art sector, with a new pack coming for Cool Cats holders.
Likely the event of the day is the Sugartown Oras reveal. Given their recent run to 0.22 ETH (from a free mint) and ties to Zynga, there will likely be demand for rares.
See the full list and dive in for more details with Swizzy's daily mint monitor.
Alfred Steiner x Fingerprints - Proteus (12:00 p.m. ET)
Dean Blacc - Machine Dreams (1:00 p.m. ET)
Jimena Buena Vida - Unbecoming (1:30 p.m. ET)
Cool Cats - Avatars & Halloween Pack (3:00 p.m. ET)
Sugartown Oras - reveal (TBD)
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.