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- Big Brands Entering the NFT Space
Welcome back to Decentra Daily, where if we aren’t writing about crypto or NFTs we’re playing Connect 4 and drinking kombucha. We appreciate you for reading.
Market sentiment analysis: Opensea volume is down 13% on the day. Crypto took another dip yesterday afternoon with a large sell off, supposedly miners were selling so they can afford their rising energy costs. It seems like our use of BAYC and MAYC as our NFT market indicator show it being quite stable. It appears at 80 eth a couple weeks ago Bored Apes were being oversold. The current floor of BAYC is 96.2 eth (with some higher sales recently), and for MAYC the floor is 19.169 eth (nice). The market is bleeding, but at a slower rate.
Estimated read time: 4 minutes
Fancy a budweiser with your virtual horse racing?
Name brands entering the NFT space
What the heck is Lolli?
Get drunk and watch virtual horse racing: Budweiser edition
When I was a little kid I dreamed of racing horses, my parents took me to horse riding lessons, and I was terrified and lasted all of two lessons….the dream died. But now it’s back! I can race my horse, in a virtual game called Zed Run, while drinking their new sponsor: Budweiser.
If you’re unfamiliar with Zed Run it is a ‘game’ of high stakes virtual horse racing utilizing blockchain technology. Budweiser has already dipped its toes in the NFT world with “Bud Can” drop, as well as buying beer.eth for 30 eth ($95,000) in late August 2021. Wonder if that’s the most anyone has ever paid for a ‘beer’? Dad joke.
Now what does this partnership mean? They are releasing the Budweiser Pass, and according to Budwieser’s twitter account (and what else we could find) the following benefits will be:
Exciting utilities (means they are still figuring it out)
Clydesdale skin airdrop (cool? meh?)
1,600 Classic Clydesdales, 800 Bud Bottle Clydsedales, 100 Gold Clydesdales
Access to Zed Run’s Budweiser track
Merchandise drops
Entry into in-game events
Airdrops and giveaways
2500 editions will be released, for $225 + gas. 500 will be purchasable by Bud Can holders in an early access window. If you own a Budverse Heritage Can, a Zed Genesis Racehorse OR a NASCAR Zed Run pass you will be given 24-hour early access to purchase a pass.
Early access starts June 9th at 3pm PST. Public sale launches 24 hours later on June 10th at 3pm PST.
The sale will take place on hang.xyz, where you need to be 21 or older to participate. Sorry you under 21 degens.
Decentra Daily’s thoughts: Everyone in the world knows what Budweiser is, I don’t know if there's a more recognizable can of beer, although I prefer a warm Bintang in Thailand, while sweating through my t-shirt, eating a plate of street food, knowing my stomach will thank me later.
All kidding aside, partnerships like this are great for the Zed Run and the space as a whole. If you factor in beer and ‘gambling’ then we have a match made in heaven. Would I buy the Zed Run x Budweiser Pass? Not likely if I’m expecting a high return on investment, but if I wanted to dip my toes into Zed and possibly get some interesting benefits then $225 can be spent in worse places (namely a real race track).
Let’s have a look at what other brands are venturing into the NFT space.
Your favorite brands are all going to release NFTs - Sorry haters!
If you hate NFTs unfortunately you are in for a rude awakening….I will bet that by 2030 every major consumer brand will have released an NFT in some way or another. Send your bets to:
P Sherman, 42 Wallaby Way, Sydney. Disclaimer: Don’t send.
Here are the following brands that have released or trademarked NFTs:
This is just a small list of brands that have released NFTs. And it’s only just begun, with brands like KFC, Pizza Hut, Louis Vuitton, Dolce & Gabbana, Hooters, and many more either releasing NFTs or filing patents for their release.
With the NFT market expected to grow to $147 billion USD by 2026 at a 35% CAGR it is a no-brainer for large companies to come in and capture a market share.
Companies can also form communities around NFTs, and by extension, their brand, in ways that most major brands have not been able to. Let’s hope that these big companies provide value/utility to their NFT holders and we aren’t just another revenue source. The opportunities are endless.
What is Lolli?
We had heard of Lolli before, and just as we were about to wrap this week's newsletter up a Tweet notification came in. Alexis Ohanian, founder of Reddit, and Serena Williams’ lesser half posted:
We are in no way getting compensated for posting this. But Lolli is intriguing as you are able to earn rewards up to 30% in Bitcoin or cash for shopping with them. You can shop with big stores like Amazon, Nike, Chewy, eBay, Sephora, and Sam’s Club to name a few.
You just need to download the browser extension, shop with the Lolli partners found here, and earn Bitcoin or cash.
Alexis is usually ahead of the curve when it comes to tech innovation, so seeing him endorse this peaked our interest. We will have to try it out for ourselves and see what kind of returns we can get. Let us know any feedback if you try using it as well!
One thing we did find is that Alexis and Serena Williams invested in Lolli, so he has financial interests in getting people to use the service. So always be aware of the ulterior motives of people shilling products, especially influencers.
If you don’t feel comfortable buying Bitcoin then maybe earning some via your e-commerce addiction is a good place to start!
Winner and Losers
The projects that have stood out to us the most in the past 24 hours, the good, and bad
Winner: We Are All Going To Die NFT - Floor Price Up 92% in the last 24 hours
Kind of interesting PFP project that reminds us of screenshots from Final Fantasy 2, (yes, I’m that old), WAGDIE was a free mint with CC0 rights, no roadmap, a wacky medieval font they use, and the community seems to love Game of Thrones quotes. Posting this as todays winner since the other candidates all seemed to be about poop.
Loser: Elftown.WTF - Floor Price down 25% in the last 24 hours
Part of the weird Lord of the Rings themed craze of the last few weeks, these Elves were created “to conquer the greatest evil our land has ever faced... The goblin hordes”. Well, with Goblintown.WTF holding up a floor price of 4.85 ETH, looks like the elves shit the bed on this one.
Headlines of the day
Disclaimer: Nothing in this article/newsletter should be considered financial advice. The purpose is to inform readers of the current trends and news in the web3 space. We encourage every reader to do their own research and not act upon information put forth by Decentra Daily.