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STEPN x Adidas Sneaker Release

Pump[dot]fun madness explained + raffle winner

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All the NFT, web3, and crypto news you need in one Drop!


We hope everyone’s week is going swell!

Here is the breakdown of today's newsletter:

📍 What’s Dropping in web3
👟 STEPN x Adidas Release
🚀 Pumpdotfun madness explained + raffle winner
🔗 Crypto Update
🤡 Meme Drop

Here’s how close we are to the Bitcoin Halving event:

Reminder: If there is something you think we can do to make this newsletter better (content, format, etc.) please respond to this email with your feedback!

  • Doodles: Singer Coi Leray debut two new songs at her performance at Coachella. The backdrop featured her doodle as hint of what’s to come (@jholguin)

  • Marshmello: Well.. actually not quite. Crypto influencer pretended to be the award winning DJ during NFT NYC as a prank promotion. The crypto community found the prank in good light, the real Marshmello on the other hand did not and even tweeted out “lawyers are already on it”. (DC)

  • Animoca Brands Japan: Plans to launch an NFT launchpad in Summer 2024 to amplify the reach of web3 projects and creators. The launchpad will provide selected projects access to Animoca's extensive network, including over 400 portfolio companies and around 700 million users worldwide. (LT)

STEPN x Addidas Collab

It’s official: Adidas and STEPN have formed a long term partnership.

💡 What does this mean?

Multiple activations starting with a 1,000 unit co branded sneaker on Solana, exclusive perks for holders, physical and digital rewards, and much more to be announced. Stepn was launched in 2021, and there are now over 5 million registered users, putting it among the top lifestyle rewards apps globally.

🎟️ The Raffle Mint will happen in two phases:

Phase 1: April 17th, 00:00 am UTC - April 17th, 11:59pm UTC

200 co-branded Genesis including 40 exclusive ALTS-coloured Sneakers. With a special allowlist for @altsbyadidas holders & FSL’s most active users:

@altsbyadidas NFT holders
➢STEPN: OG or Genesis holders, or owners of “Effective Mover 6” Badge
➢MOOAR: membership level 5 and above
➢Gas Hero: Badge or Genesis Holders

Phase 2: April 18th, 00:00 am UTC - April 21th, 11:59pm UTC

790 co-branded Genesis Sneakers / Open to everyone

More details below:

Something to note: The co branded sneakers will be raffled on mooar.com 

What is going on with Pump[dot]Fun? 🎯

As we know in recent bull cycles, whenever Bitcoin goes on a crazy run altcoins follow suit and usually pump.

Back in January of this year a platform known a pump.fun was created that revolutionized the meme coin trading market.

💡 What is Pump.fun?

Pump.fun is a platform that allows user to trade memecoins without necessary seed liquidity. The platform has gained popularity for its 4chan-like user interface that makes it easy for non-technical users to launch tokens for fun. Users can create and trade tokens in under a minute for less than $2, and the craziest part? The tokens are instantly tradable. 

Needless to say, some of the coins that are getting created are outrageous

More on pump fun:

  • Users can choose between Blast or Solana for launching their memecoins

  • Launch process involves inputting name, ticker, description, and branding imagery, with a deployment cost of 0.02 SOL or $3.50

  • Issuers can purchase more tokens at launch price before the token goes live

  • Tokens are launched along a bonding curve on Pump.Fun platform, allowing anyone to buy or sell

  • If the token reaches a market cap of around $70,000, liquidity from the bonding curve is deposited into Raydium and burned, as seen in success stories like HOBBES and many others.

$SHORK Raffle 🎟️

A recent pumpdotfun project known as Shork (ticker: $shork) wanted to run a raffle for subscribers.

We’ve got a winner! Congrats to zet***[email protected] on winning 25,000 $shork tokens (at the time of writing that is just shy of $200 USD!). Please reply to this email with your SOL address and thank you to everyone who participated in the raflle!

What is shork coin? 🦈

A memecoin created by crypto influencer and pro gramer @yelotree. Here’s the TL,DR:

Disclaimer: This is not a recommendation to buy or sell $shork or any memecoin. All digital assets of any kind are high-risk investments. Do your due diligence.

  • Hong Kong: Approves Spot Bitcoin AND Ethereum ETF applications (WG)

  • German Federal Bank: To offer crypto services to institutional and corporate clients (CN)

  • $220M: Was liquidated from crypto in 1 hour on Friday, and almost $900M was liquidated within 24 hours (WG)

  • Mining crypto: is getting much louder… literally see here (CBS)

  • ETH/BTC: The golden ratio nears 3 year lows (CT)

BTC halving talk is getting close to all-time highs 👀

Sponsored Content: There is no sponsored content in this newsletter.

That's all for today's issue! Thanks for reading this far and also make sure to give our Twitter a follow daily for breaking web3 news! (@TheDropNFT)

Written by: Gannon Breslin

Disclaimer: The Drop DOES NOT provide financial advice. All content is for informational purposes only. The Drop is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses.