NFT Updates with a Surprise

GM Seedphrasers 👋 Thursday means NFT alpha, fresh out of the oven from your favorite analyst Mishu.

Today’s Agenda: 📓

• 📈 Porche FUD & Pump

• 👀 Yuga Dominates & $APE

• 🛠 Undercover free mint

• 🙃 $700m dollar update

📈 Porche FUD & Pump

Web2 brands cant dominate in Web3, or that's what we thought.

Porsche, the Italian luxury car manufacturer, decided to launch their first NFT collection. At first, the release failed miserably and FUD went wild. After spending two months building their so-called "Web3 community," Porsche revealed a head-scratching 0.911 ETH mint price early last week.

The goal was to sell 7,500 NFTs and make $11,000,000. But that didn't happen. Instead, they only managed to sell 2,363, about 31% of total supply, before it became a disaster.

Fud was everywhere and the project looked like a car wreck. Then FOMO kicked in. The biggest lesson in NFTs is when there's FUD, there's FOMO. And that is exactly what happened; the price of Porche NFTs went below mint, and then shot up to a pretty 3x. Will it last? Who knows...Despite the poor start, Porsche looks like it's trying to prove a point.Utility? They promise airdrops, NFT customization, real-life rewards, exclusive access, and hopefully a discount on a brand-new 911...(Personal ask)The Lesson: Web2 brands need to learn from true NFT builders on how to develop a Web3 community, avoid supply & demand mistakes, and hire the right community leaders before they plan to launch another NFT.

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Sewer Passes (Yuga Dominates Again 🥱 )

We talked about Sewer Pass last Thursday when it was 1.25 ETH, and now it's sitting at an ATH of 2.98 ETH. Don't sleep on us. Over the last week, Yuga assets have dominated the market share in a way we haven't seen in a long time.The launch of Sewer Passes has been a complete success. What started as a free claim for all MAYC and BAYC holders, has resulted in nearly $2M in royalties and another $1M in $APE boosts spent on the newly released Dookey Dash game.Yes, people actually spent $1m dashing in sewers for a key Jimmy the monkey swallowed.The speculation is these passes turn into another Yuga-exclusive NFT based on the score each player achieves with the tier pass they hold.

Ape holders went out to hire professional gamers to play the game for better scores!

They called in Fortnite Pros to get paid and play the game for the highest score. As of now, the market rate for getting your score boosted to 400k (a top 100 spot at the time of writing) is 4 ETH.The question is, will we see these passes continue climbing in price or will they come crashing down?YUGA made its move. Now it's your turn.

🤫 Upcoming Opportunity

If it's free, it's for me. For you too.

We’re giving you the alpha EARLY. So early, the first post was less than 48 hours ago, and it's starting to pick up traction.

 The 16s is the second collection by Crush Labs. Their first release was Kawaii Plushies, which was a free mint and now has a floor price of 0.64. (That's 64X).

The project is still unpacking- very mysterious but exciting. Top NFT traders like Flipdrago, Champ, and NFTboi are already following it.

No art revealed yet, just hype. Check it out and thank us later.

Hot Headlines:

• Kevin Rose was hacked Wednesday afternoon amounting to over $2M in NFTs, including 25 Chromie Squiggles and Autoglyphs.

• Kaiju Kingz teases another drop with a new trailer

• Pudgy Penguins secondary collection, Lil Pudgys cut a deal to go cross chain.

• DigiDaigaku founder Gabriel Leydon shares the allow list for the next drop.

🛠 An update about the $700m

The 700m dollar update. Doodles are back. 2 announcements in one week.

NFT Twitter had mixed opinions on the form and frequency of communication relayed from the Doodles Twitter account. And of course, plenty of complaints about lack of progress (aka floor price stagnation). But they’re back. The floor price went from 6.4 ETH to 8.1 ETH in the past 30 days, a 26% increase.

Here’s why. They announced the acquisition of an award-winning animation studio called Golden Wolf to create more content.

Then, they made an announcement about Doodles2. It's coming to life but not on Ethereum.

The new chain? FLOW. A fast, decentralized, and developer-friendly blockchain, designed as a foundation for games, apps, and the digital assets that power them. Built by the same people behind Crypto Kitties, Dapper Wallet, and NBA top shot. $Flow price ran up 8% post-announcement.

Back to Doodles...

Doodles 2 is going to allow holders to customize their characters for use in games, social media, and release digital wearable items for the characters with exclusive IRL drops.Here's what the founder had to say:

Poopie, let us know what to buy next time before you make an announcement. Thanks!

That's a wrap for today fam. See you tomorrow! Check us out on Twitter @seedphrasedaily for daily updates.

A SEEDPHRASE MEME

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research