GM 👋 this is Seedphrase Daily, the morning newsletter to make you smarter about crypto!

📓 Today’s Agenda:

• 🔥 Hot Headlines

• 🔬 Market Overview

• 🧐 Selling the benefits of your NFT -without selling your NFT

• 🚨Upcoming NFT Drops

🔥 Hot Headlines

📉 Crypto & The Markets:

• Jack Dorsey teases us with what he’s been building at Block! Read more

• Fan tokens aren’t dead just yet Chiliz teams up with Jump Crypto to create a Web3 Incubator. Check it out!

• Are Bitcoin Ordinals the answer to Bitcoin’s security budget? Find out!

🖼️ NFTs:

• We are family! Azuki Co-founder emphasizes the reason for their success is the community - Check it out!

• We’re going to need a bigger Sandbox…The Sandbox team has acquired Sviper Games - Read more!

• Has Jack Butcher inspired a new trend? The Base NFT (Coinbase’s L2) will be “evolving” over the next 5 days - Check it out!

🔬 NFT Market Overview

The story of the week in NFT land continues to be Blur airdrop farming. And honestly, when Blur is promising to give out 800-850 ETH PER DAY, that will continue to be the case.

Overall NFT volume is hovering in the 50k ETH range, down from the highs of 75k ETH last week.

NFTStatistics took a look at the top Blur farmers and found that ALL of them are down on their trades for Season 2.

In fact, Machi is down over 2k ETH ($3.3 M)! In Season 1, Machi claimed 2M BLUR tokens ($1.7M). If this loss holds, he’ll have lost more money than he received from the Season 1 airdrop…ouch!

In other news, most large-cap PFPs (BAYC, MAYC, Azuki) are down slightly on the week but PudgyPenguins finds some room to run, up from 4.6 ETH to just over 6 ETH.

What to take away? Continue to expect small runs for large projects but Blur is the narrative everyone is following. One thing to look out for is upcoming mints that could spark some interest. And for that, we’ve got you covered with those later in the newsletter!

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To prove our commitment to security, we are releasing verifiable proof-of-reserves audits monthly, and recent audits have proven OKX has “clean reserves”, something not every exchange can claim truthfully.

For those who just aren’t sure yet, or who have sworn off centralized exchanges, we hear you. But for all others, we’re offering SeedPhrase Daily readers a 30% fee discount for new users that trade $10,000+ in volume across spot/derivatives products in their first 30 days.

🧐 Selling the benefits of your NFT -without selling your NFT

If you thought NFT mfers were going to stop at simply trading JPEGs you were wrong.

NFT-Fi is here and we’re seeing massive innovation in the space, one untapped area specifically is delegating, delegating your NFT rights as an NFT.

What does that mean? NFTs come with benefits to owning them(some ofc). Let’s take BAYC for example. If you owned this NFT prior to the $APE coin airdrop, your BAYC NFT gave you the rights to claim thousands of tokens as a utility. However, some holders didn’t realize this and listed their NFT prior to claiming.

A savvy investor would purchase that BAYC, claim the APE token, and then sell the BAYC. However, there’s one big problem here. A BAYC NFT isn’t cheap. This would require A LOT of capital.

The solution? Liquid Delegate allows you to wrap and then sell the benefits of an NFT. In the scenario above, the BAYC holder could've sold their claim to the APE token without having to sell their BAYC.

All of the terms/rights of the delegation are contained as a separate (tradable) NFT!

What to take away? Your NFT gets you perks, the NFT and those perks are valuable and opportunities for you to make money or even be a target to scammers. So instead of selling your NFT, or having to make changes to your wallet you can delegate that benefit to someone else and profit off of it.

🚨 The Hottest Upcoming NFT Drops

🚨 Momoguro (3/2/23 @ 10 AM EST)

➡️ Mint price: 0.22 ETH
➡️ Supply: 8,888
➡️ Team: Baobab Studios (includes former execs from Disney, Pixar, and Dreamworks)
➡️ Community: 9gag and Zeneca have both rallied behind this mint
➡️ Price prediction: Many predict we’ll see this run to the 0.7 - 1.3 ETH range

🚨 Mocaverse (3/6/23 @ 5 PM EST)

🚨 Elemental Raiders (free mint in March 2023)

Additional Drops:

• DraftKings Reignmakers PGA Tour Launch (3/6/23) - Learn more

• Starbucks Odyssey Stamps Sale (3/9/23 @ 3 PM EST) - Learn more

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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.