The Grapes Generates Real Revenues

The PFP meta is dead. We need real business models for NFTs

Author

The Metadata
July 12, 2023

Hello everyone. We just transitioned to Threads, the new Twitter competitor, so please follow us if you’re there and vibing. We’ll follow you back.

Today we cover:

  • 🍇 NFTs with actual revenues? Ooh la la…The Grape aims to do that

  • 👀 LooksRare’s incentive program is probably better than Blur, for farmers

  • 🫘 This NFT trader thinks Elemental Beans is the collection to watch for

  • 🐸 Jack Butcher’s new art project set to launch next month

Market Update

Source: Dune @hildobby

The daily volumes for NFTs on Ethereum have largely remained static through the month, except for a spike at the end of June related to the Azuki Elementals and the liquidation cascades. We're yet to see any signs of a trend reversal that could signal the onset of a new bull market

The good news? Volumes and floor prices have stabilized… somewhat.

  • BAYC: 34 ETH

  • MAYC: 6.6 ETH

  • Azuki: 7 ETH

  • DeGods: 9.1 ETH

  • The Captainz: 5.1 ETH

The Grapes: NFTs With Revenues

We stumbled across an interesting project, backed by Animoca Brands ($4.1M raised).

It’s called The GRAPES, created by Viker. Their aim? To craft a global, family-friendly entertainment brand in the Web3 space.

Their revenue streams are twofold:

  • Hypercasual mobile games like Solitaire and Grape Juice, which generate income through in-app purchases and ads. And guess what? They've got 7 more games in the works.

  • Royalties and the creation of gaming experiences on platforms like Roblox and Fortnite.

Over the weekend, their Solitaire game earned $4k in revenue with 26k games played.

How do they return value to the community? Through a combination of fungible tokens and NFTs. Grape NFT holders earn points for every 24 hours they hold the NFT without listing it. These points will result in a future airdrop of $GRAPE. We hear that $GRAPE could be launching soon.

Apparently, 40% of revenues generated will go back to holders via token buybacks.

At the helm of the Viker team are Ben Cusack (formerly Head of Studio at Square Enix Europe) & Dan Beasley (a serial entrepreneur), with over 500M downloads of their previous games under their belt.

Why this matters: Over the past few months, we've witnessed the decline of the PFP model for NFTs, which was primarily centered around identity, bragging rights, and speculation, with no real revenues to speak of.

It's a breath of fresh air to see new projects not only generating tangible revenue but also redefining how value is returned to NFT holders.

LooksRare > Blur?

If you enjoy token farming, it might be time to shift your focus from Blur to LooksRare.

Blur's airdrop farming has become very saturated, making it challenging to turn a profit without the use of advanced tools. LooksRare's incentive program remains relatively undiscovered.

This under-the-radar program could be a golden opportunity for those in the know. Erick said it best:

The second season of LooksRare's program kicked off just a week ago and will run for six weeks, concluding on August 14. The total reward pool is 5,000,000 LOOKS ($300,000).

It’s pretty easy to take part: list your NFTs on LooksRare and accumulate points. No need to place bids and put your ETH at risk.

Today's News

  • Blur launches v2 with 2 new features: gas optimizations (cheaper transactions) and trait bidding. Cool stuff, but what we really want to know is: when does Season 2 end?

  • BAYC is releasing an Intellectual Property (IP) tool. The tool is designed to verify items and create an official directory for everything that Apes and Mutants are making. It is expected to debut soon.

  • Notable NFT sales include:

    • a King LoudPunx that sold for 30 ETH. LoudPunx NFTs provide VIP access to all Rolling Loud shows, a concert promoter that hosts hip-hop concerts worldwide. The King gets $6,000 worth of alcohol at each event. Now that’s real NFT utility!

    • A Medusa DeGods sold for 90 ETH

    • A Red Peg Ringer sold for 50 ETH

Click Worthy Tweets

🐥 This trader believes Azuki Beans to be worth watching for

🐥 No buyer interest today in acquiring NFT collections.

🐥 Take out an on-chain loan using your luxury watch

🐥 Gnosis using ERC-6551 to do cool stuff

🐥 VC-based Web3 game with a free mint

🐥 A primer about on-chain gaming. Is it alive or dead?

Upcoming Mints

🍿 Jack Butcher’s new project: Infinity Checks. Likely dropping next month so pay attention to his Twitter. The catch? The price is fixed at 0.008 ETH ($15) even after the mint.

🍿 Tensorians is the PFP collection that is tied to Tensor, the NFT marketplace that has overtaken Magic Eden in volume and attention. It’s launching in the next few weeks. Earn Tensor points to qualify.

🍿 Ember Sword, a much anticipated web3 game, will conduct its land sale in 2 waves. Wave 1 requires the submission of an application and is open today. Wave 2 begins after 31 July. Prices start from $60

That's it for today folks, see you tomorrow. If you want more, follow us on Twitter (@the_metadata). If you were forwarded this newsletter, you can subscribe with just one-click:

Disclaimer: This newsletter is for educational purposes only. None of this is financial or investment advice. It is not a solicitation to buy or sell any assets. Minting and buying NFTs is risky. Please do your own research.