In This Issue
- I share my thoughts on the state of the market, Binance Mastercard, this week’s NFT scene, new Avalanche transaction high & the Dogechain airdrop.
- Sam has a report for you on how to find free NFT mints.
Premium members also get the following:
- My latest portfolio updates
- Rekt Capital has the latest technical analysis for you on the market.
- Rebecca has all of the latest news for you.
- Upcoming NFT drops
- Defi Dad has a tutorial for you on how to earn up to 31% APR with stablecoins on GMX on Arbitrum.
- Jesse has a ton of hot new airdrops for you.
- Hot new token sales.
- Rebecca breaks down this week’s trending coins.
- Jesse has a deep dive for you on Thereum Classic
And much more!
What’s On My Mind by Lark
The State of the Market
All eyes are on the Jackson Hole Federal Reserve Meeting this week.
Someday they will tell stories about the time when we all sat around waiting for one man to tell us about what was going to happen next with money and markets. It really makes you appreciate the programmed mathematical certainty of Bitcoin.
What are likely outcomes from the FED meeting? Well, markets are already expecting hawkish vibes from Powell… so probably the market is already pricing in, at least to some extent a hawkish tone from the FED. If however they are more hawkish than expected then more dumping becomes likely. If the FED takes a lighter dovish tone then we may see markets staging a new rally.
This chart is of the DXY, the dollar index, which is currently looking like it could confirm a double top. If this happens then it would be good for risk assets as it would indicate investors being more open to taking on risk and moving out of dollars.
That, of course, depends on the FED though. It wouldn’t take much to see this rally higher and invalidate a double top thesis which would be bearish for stocks and crypto.
Bitcoin, like many coins in the market is hanging on the trendline. Fall here and new lows or at least a retest of previous lows becomes a possibility.
Bounce here and it could be game on! Sad to see so much of the fate of the crypto markets tied to equity markets and what the FED has to say, but that is the state of markets now.
This is the everything crash driven by inflation and macro economic events. No market is being spared.
Binance and Mastercard have teamed up to bring crypto payments to Mastercard’s network of 90 million merchants. WOW! Pretty big news.
Step by step we are moving towards mainstream adoption. Bear markers can make us numb to this kind of news, or make us forge the big picture. But stories like this are how I know for certain, markets will go higher in the future.
All we need as investors is patience. We are standing on the precipice of massive global adoption of crypto tech.
The NFT Scene This Week
Sudoswap, check out Jesse’s review last week, has been getting a lot of attention and a lot of clones! One such clone called Sudorare exit scammed with almost a million dollars worth of Ethereum only hours after launching. Scammers always find ways to make money it seems…
Otherwise the NFT market remains rather muted.
Oh sure, there is the occasional pump like Pudgy Penguins which onboarded some big name execs this week. But otherwise the NFT markets have been quiet for top tier collections.
New launches are coming all the time though, so make sure to be reading Sam’s reports on new NFT mints!
Avalanche Hits New Monthly Transaction High
Another big milestone hit for Avalanche!
This time a new all time high in monthly transactions on chain. And the month has not even finished yet.
The crazy thing is that this is happening during a bear market.
The amount of building taking place across crypto and the amount of users still engaged in the market are impressive.
In many ways this is nothing like the 2018 bear market. Sure, things are slower, but 2018 was a graveyard. 2022 is slow, but still vibrant. A mild crypto winter… so far!
Remember last week when I said to check out this new Dogechain thing? Well, it appears they have confirmed the airdrop of Dogechain token. Details here to see if you qualify and how to get tokens moving forward.
Sudoswap Review by Jesse (premium article)
Sudoswap is the next step in the natural evolution of NFTs. Created in 2021 and discussed in your Airdrop inbox section last December. Sudoswap began its journey as a way for Ethereum NFT owners to swap NFTs without needing a middleman to facilitate the transfer.
With products like Opensea, users are required to pay high fees when buying and selling NFTs. This includes royalties and other baked-in fees, something that Sudoswap has limited use of on their protocol.
Sudoswap affects NFT royalties in a big way. If you’re not familiar with how royalties work, when someone creates new NFTs on marketplaces such as Opensea, Looksrare, Raribles, and other similar NFT marketplaces, the creator can set the value of royalties they would like to receive every time one of their creations is traded. Without going too far into the politics of royalties, depending on what side of the argument you lean towards generally dictates your opinion of the matter.
With the release of Sudoswap AMM, these royalties disappear from that equation. While a small number of fees are collected by Sudoswap, sellers, and NFT LPs, it’s nowhere near the cost of doing business with other options currently available on the market. This leads us to the next topic of our discussion.
Free NFT Mints by Sam
If you want to flip some new NFTs, but you don’t want to risk throwing away your ETH, then it may be a good idea to dive into some free NFT mints. There are no guarantees with these kinds of projects, but there are plenty around at the moment.
What are Free NFT Mints?
When a new NFT collection launches, you usually have to pay a set price plus gas to mint. On the other hand, a free NFT mint is exactly as it sounds: you can hook up your wallet and get a new NFT from the drop at no charge (although you will still have to cover gas fees).
Rather than making a profit from launch sales, creators are rewarded through royalties on secondary sales, and may also benefit from the hype and momentum that a free mint can pull in.
Free mints are not new, but they have become a trend during this year’s bear market crash. They’re not just cheap, but fit in with the current atmosphere, as in, crypto was imploding, so let’s just strip it all down and keep the vibes simple and no nonsense.
Risks, Rewards & Burner Wallets
The good point, obviously, is that you only have to part with gas fees, so even in a bear market you can ape into some new plays. The risks are the usual–a project might collapse, come to nothing, or pull the rug–but amped up considerably as free NFT mints are deliberately threadbare, don’t reveal much in advance, and there’s more bargain-bin sketchiness around.
All that in mind, if you want to access some free NFT mints it’s a good idea to set up a burner wallet. This means an extra wallet that doesn’t contain much ETH or any valuable NFTs, so you can connect with contracts and sign transactions without being overly concerned about exploits and security risks.
Free Mints that Took Off
Image credit: Larva Labs
Yes, the ultimate, iconic NFT collection, that set the template for 10,000 item PFP drops and is just quietly cooler than BAYC, was a free mint back in 2017. Admittedly that was when no-one else was minting PFP drops because CryptoPunks was in the process of inventing them, but still, they’ll go down in history as freely distributed NFTs.
Likely to be remembered as the NFT big hit of BearMarket2022™, pat yourself on the back if you got one of these for free. They caused some drama, helped to embed the free NFT mint meta, and massively boosted the profile of their creators, Truth Labs.
There will be very few free mints that stick around and attempt to build what everyone is calling web3 brands, but Goblintown and Truth Labs are contenders to pull it off.
Image credit: Tiny Dinos
As well as being a free mint, Tiny Dinos made a point of emphasizing the CC0 ownership model, leading the way when CC0 and free minting came packaged together. The developers also showed innovation by launching as a LayerZero omnichain project.
Tiny Dinos dropped before crypto had entered full-on panic mode, and quickly established an upbeat following. It has hung on through the bear market with a current floor price of just over 0.07 ETH, down a lot from highs of around 0.35 ETH, but up from a low of, well, zero.
We Are All Going to Die
This is a project that took off for a while, and it’s a good example of a trajectory free mints can take. Basically, the majority of free mints will do nothing, a very small number will take off and immediately build further, and a few–such as WAGDIE (as it’s known)–will take off and then return to earth.
That last option is still good to find but illustrates the importance of figuring out what kind of ride you’re on and taking profits, otherwise you can end up on a roundtrip to the top and back down. Having said that, We Are All Going to Die is still alive and an active project.
How to Find Free NFT Mints
Image credit: mint.fun
An extremely useful tool is the free feed on mint.fun, which shows you free NFT mints as they are happening, along with stats and social links, and there’s a Twitter alert bot. Also, you can click and mint through mint.fun itself, adding an extra layer of security.
Beyond that, Twitter and Discord are your friends. Follow a few free projects (there are some upcoming free mints in the section below) and they’ll often direct you to other, similar projects as they come up. Be aware though that free mints are at the most degen, casino-like end of the crypto space, so there’s a lot of noise to filter out.
Upcoming free mints
As mentioned, free mints are incredibly hit-and-miss and often very short on details, so these are just some suggestions to take a look at. Be aware that if you happen to hit on a drop that gains traction, it’s likely to be short-term and when the price falls it may never recover (although there are exceptions).
Image credit: Monsterland
Animeme Labs is a web3 animation studio that has a substantial following on YouTube and has announced a free mint. Seasons and Monsterland both have cute, simple artwork, and Mini-Heroes NFT is based around pixel art comic book characters.
Keep your expectations realistic and free mints can be a fun, minimal outlay way to roll the crypto dice while the market is quiet.
Thank you so much for your support, and I truly hope that today’s issue will give you insights needed to help you master your wealth.
If you are reading this it means you are on the free version of the Wealth Mastery Investor Report, which is great for news and tips on the crypto markets.
If you really want to take advantage of fastest growing asset class EVER, I highly recommend you join us in the Premium Investor Report.
You’ll immediately get access to:
- Deep dive Altcoin report & The Trending Coin Report
- Technical Analysis on the crypto large caps and overall market
- Token sales, Airdrops and DeFi Tutorials
- Updates on the NFT Ecosystem and new mints
- My Investment Portfolio Updates
See you next time!
Lark and the Wealth Mastery Team
TCL Publishing ltd (director Lark Davis, owner of Wealth Mastery) is not providing you individually tailored investment advice. Nor is TCL Publishing registered to provide investment advice, is not a financial adviser, and is not a broker-dealer. The material provided is for educational purposes only. TCL Publishing is not responsible for any gains or losses that result from your cryptocurrency investments. Investing in cryptocurrency involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment. Investors should consult their financial adviser before investing in cryptocurrency.