Trump Family Introduces World Liberty Financial
And a token is coming - read on for all the details from last night's Spaces.
TylerD's Market Summary
GM!
Today's top news:
Crypto majors up 1% as pre-FOMC chop continues
Donald Trump shares new NFT and crypto insights in interview with Farokh
World Liberty Financial team confirms $WLFI token, shares tokenomics
Michael Saylors to buy another $700M of BTC thru MSTR
Flyfish Club settles with the SEC after allegations of selling unregistered securities as NFTs
💡 Trump and Team Share New Insights Into Crypto, WLFI
I still don't know how my co-host Farokh landed the interview with Donald Trump.
But he did. And he knocked it out of the park.
Over 1.2M people tuned in as he pressed the former President into sharing more crypto details than he's ever shared before, and then went on to help break the news of the World Liberty Financial token launch.
It was a big night for Farokh and all of crypto.
What Happened?
Last night, Farokh interviewed Donald Trump, his sons Don Jr. and Eric, Steve Witkoff and several members of the World Liberty Financial Team in a Spaces on X.
He started with the former President, asking him about Sunday's assassination attempt and then eventually moving into crypto and NFTs.
Perhaps the most interesting response from Trump was his answer to "What was your biggest surprise with respect to crpyto?"
Trump replied:
How many of his NFT buyers paid in crypto (vs cash)
The belief his sons have in crypto
The belief his trusted advisors have in crypto
The answers seemed genuine and not prepared talking points.
Trump even showed knowledge of NFT dilution, as he mentioned asking his NFT holders of Trump Cards 1-3 if they'd be okay with a 4th launch (he said they all were).
It was the most crypto and NFT content we've ever gotten from Donald Trump.
Then, Trump left and Farokh moved through everyone else in the room as the focus shifted to World Liberty Financial.
They clearly have a big focus on liquidity & usability and spent a good portion of the interview talking about user experience issues in the current state of crypto.
While we didn't hear exact details about the project, we were able to paint this picture of what the team wants to do with WLF:
Take the best of DeFi and bring it to everyday users
Focus on stablecoins and bring yield to average users
Onboard as many people as possible via simple and intuitive products
So it's going to be a DeFi project, leveraging stablecoins, yield and likely a lending component - and a token.
As for the token, $WLFI will be a non-transferable* governance token with the following tokenomics:
63% allocation to a public sale
17% for user rewards
20% for team compensation
*Though they didn't explicitly explain how the token would become transferable, there is precedent for turning that decision to a DAO vote.
While we don't know many more specific details, we know one thing - demand for $WLFI will be through the roof when it launches.
Why It Matters
The biggest family in American politics is about to launch a crypto project.
Those involved clearly have a handle on current issues in the crypto space (usability, hospitality, barriers to entry) and the benefits of bringing real world assets onchain (access, transparency, smart contract automation).
So at a minimum, they've been well coached.
I will personally reserve judgment on the project itself until more details are known, but it feels more promising than I thought from some of the early leaked (and incorrect) information.
Whatever is is they do launch will have incredible demand.
Hopefully the team is taking that responsibility seriously.
🚚 What else is happening in NFTs?
Here is the list of other notable headlines from the day in NFTs:
Ethereum led NFT trading volume with $3.6M on the day; SOL was next with $2.2M, and then Bitcoin with $1.3M
ETH NFT leaders mostly chopped; Pudgy +1% at 10.9 ETH, BAYC even at 12 ETH, Azuki -1% at 5.4, DeGods -15% to 1.65 ETH
The Wicked Craniums (+300%) were a notable top mover
BTC NFT leaders were mixed; NodeMonkes +2% at 0.129 BTC, Puppets -3% at 0.081 BTC, Quantum Cats +3% at 0.244
The Runes leaders were very green; DOG +9% at $234M mc, RSIC +13% at $59M mc, PUPS even at $22.5M
Solana NFTs were mostly green; Mad Lads +1% at 60.3 SOL, SMB Gen 2 +2% at 27, DeGods -15% at 28 SOL, y00ts -20% to 6.2 SOL
Doodles announced a collab with Rubiks cube, including limited-edition digital cubes, wearables and more
Gary Vee's Flyfish Club has settled with the SEC after it apparently sold unregistered securities as NFTs
Trump.eth sold for 48.4 ETH in the biggest ENS sale in quite some time
💰 Token, Airdrop & Protocol Tracker
Here's a rundown of major token or airdrop news from the day:
D20 Labs announced a new game Royal Nutz Poker Club just a few weeks after their splitoff from Zynga via Sugartown
Permissionless Labs raised $10M from Solana Ventures and Multicoin, with funds used to recruit and scale Pipe Network
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
Crypto majors are slightly gren this morning after U.S. Senators called for 75 bps in cuts tomorrow; BTC +1 at $59,150; ETH even at $2,310, SOL even at $132
Memecoin majors are mixed with DOGE -1%, PEPE +2%, WIF +2%, BONK -1%, MOG -1%
Farokh interviewed Donald Trump and team Monday night, with the former President sharing new thoughts on crypto and the World Liberty Financial team sharing new details about the project and token
Michael Saylor's MicroStrategy announced plans for another $700M in Bitcoin purchases via a convertible note issuance
Binance founder CZ will officially be released from prison on Sept 29
🚀 Memecoin Movers
$BOBO (+30%, $73M market cap, ETH)
$CATE (+28%, $32M market cap, ETH)
$APU (+26%, $75M market cap, ETH)
$SLERF (+15%, $76M market cap, SOL)
$NEIRO (+14%, $158M market cap, ETH)
📈 NFT Floor Price Increase (ETH)
Wicked Craniums (300%, 0.05 ETH Floor)
LasterCat (35%, 8.88 ETH)
Farm Land (16%, 1.03 ETH)
Pudgy Rogs (11%, 0.27 ETH)
Killabears (10%, 0.28 ETH)
🗓 Upcoming Mints and Events
Today is a slower day of mints.
The highlight is likely 0xdgb and his Greens drop coming to Bitcoin with 9 1/1 pieces.
See the full list and dive in for more details with Swizzy's daily mint monitor.
Mutable Trees (10:00 a.m. ET)
Cambria - The Founders (10:30 a.m. ET)
Paul Prudence - Semiograph (12:00 p.m. ET)
0xdgb - Greens (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.