Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.
GM!
Today's top news:
Everyone loves yelling “wen token?”
Well the answer for several major protocols is now “soon.”
Yesterday, co-founder of Consensys Joe Lubin confirmed that a MetaMask token is coming “very soon.”
We don’t know any other details beyond that, and betting markets have the MASK token coming in September at just 3%.
So, it’s probably not next week.
But up until now, there was no formal confirmation a token would ever come. Now that has changed.
And add it to the growing list of major protocols dropping tokens sometime soon:
Airdrop SZN is truly coming.
“One thing to think about with the MetaMask and Opensea token is that there are a lot of graveyard wallets that have not been onchain in a long time. Depending on how they structure the airdrop, you potentially see a lot of dead wallets forced onchain to claim.” - Threadguy
This one is pretty easy to explain - we like free money.
Free money is good for the crypto ecosystem.
Airdrops from protocols like MetaMask and OpenSea have long been written off by most users. Now they’re actually incoming, likely in the next 3-6 months.
Not to mention big money coming in the Solana eco in the very near future, courtesy of Meteora and Pump Fun. (And Polymarket is just a fun surprise).
So what does it mean?
Airdrop money typically stays in the casino.
Expect booms in activity on Solana (thanks to MET & PUMP), NFTs (thanks to SEA) and maybe even the broader crypto eco (MASK, POLY).
Plus the timing is great with crypto majors within 10% of ATH, a rate cut cycle just beginning, ETFs about to explode and the DAT trade showing signs of life again.
As the kids say, Q4 is going to be a movie…
A few Crypto and Web3 headlines that caught my eye:
Here's a rundown of major token, protocol and airdrop news from the day:
Section dedicated to headlines in the AI sector of crypto:
Here is the list of other notable headlines from the day in NFTs:
