Wait, Nike Made How Much From NFTs? 🤯
GM, this is The Mint. We know you've only got a few minutes, so let's get into the NFT news from this week.
- Mastercard partners with Binance to lead its crypto efforts 💳
- M&M's goes new school 🍬
- NFT Brand Case Study (who's leading the charge on NFTs right now) 💰
- Eminem and Snoop Dog are bringing NFTs to the MTV Music Awards 🎤
- ABCs of NFTs - H is for Hold! 💡
Mastercard & Binance Partner Up
Cryptocurrency is a big part of the NFT world, and although we don't talk about it much in the newsletter, it's important to touch on it every once in a while.
This week, Mastercard announced a global partnership with Binance. The two behemoths are using each other's resources to create a card that lets you make real-time purchases with crypto.
Mastercard has already brought its payments network to particular NFT marketplaces, and with this news, it looks like it is trying to put itself in the driver's seat for good.
The card is currently in a "beta" phase and is only available to Argentinian citizens but will be widely available in the coming weeks.
We think this partnership will have many repercussions in the NFT world because it makes it much easier to use crypto. Wider use of crypto doesn't directly mean wider use of NFTs, but it's a good bet that both will gain more users and more popularity as time goes on.
Bored Ape Yacht Club M&M's - An Intriguing Collaboration
How many times have we said at The Mint, it’s more than just jpegs! Today we can prove that better than ever.
In another example of a significant brand entering the NFT space, the historic candy company, Mars, has partnered with Universal Music Group’s web 3 label, 10:22PM, to create limited edition M&M’s with Bored Apes on them.
One of the often forgotten parts of NFTs is that many projects give the owners permission to use the commercialization rights to their individual NFT. UMG has taken three Bored Apes and one Mutant Ape to create what they call a “metaverse band” named Kingship. The apes that are members of this made-up band will have their faces (or avatars) on these special M&M’s.
“Rider” - #KINGSHIPxMMS
— KINGSHIP (@therealkingship)
Aug 24, 2022
Guess what? They dropped two days ago, and it’s already working. The first limited edition gold batch of M&M’s (only 100 in supply) sold out at $99.
That's right. One hundred people paid $99 for M&Ms!!! Crazy town, or the incredible power of a brand. You decide for yourself.
What candy should we put our Moonbird on? Reply to this email with your favorite confection and we’ll see what we can do.
How Much Are Companies Making On Their NFTs?
Most of our content can be summed up as, "Hey, look, this company made an NFT. This is what they're doing with it, and here's why you should care!".
Although we can spew this stuff at you as much as we want, it doesn't mean anything if those companies aren't making any money.
What better way to show you what we mean with some data?
This user compiled a list of some companies that have invested in NFTs, many of which we have highlighted in previous editions of the mint. The user then collected the primary and secondary sales of each company's NFTs, which you can see in the image above, and then performed statistical analyses on the subsequent data.
Some takeaways →
If you do it right, NFTs can generate enormous revenue.
Secondary sales are powerful, and NFTs are letting you take full advantage with programmable royalties.
From The D 2 The LBC
Snoop Dogg and Eminem are undoubtedly legends in the hip-hop space, but what most people don't know is that they're also big into NFTs.
Eminem, whose public address is Shady_Holdings is an avid collector. Snoop, who is supposedly known as Cozomo de Medici, is also heavily involved in the space. The two artists are linked together by their ownership of Bored Apes. Eminem holds #9055 while Snoop holds #6723.
The two recently released a song and subsequent music video that featured characters from the BAYC universe. They will perform the song live at the MTV Music Awards on August 28th. Apparently, the live performance will be "like something watchers have never seen", so we're interested to see how it goes.
ABCs of NFTs
H - HODL
Welcome back to the ABCs of NFTs. Today's word is HODL.
Do you hold or do you HODL? Crypto is very volatile. Holding crypto can be like riding a rollercoaster 🎢.
Here's John explaining the origin of this meme and why HODL is a mantra in the crypto community.
Although he doesn't mention it, Mint Staffer Austin is a pretty solid runner - so solid that he just joined Tinman Elite, a professional running team in Boulder, CO. Check out his announcement video by clicking the image below - it's pretty cool and may or may not pump you up 🏃♂️
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That concludes this week's version of The Mint! Thanks for reading, and make sure to share your freshly-minted knowledge with your friends and coworkers.