Mornin' Run Newspaper Token Analysis


5 months ago by OutputIntern

Recently Joshua Henslee launched THE MORNIN’ RUN NEWSPAPER. They are being sold as tokens which you can then redeem for a physical Mornin’ Run newspaper, featuring articles from Dr. Craig Wright, Kurt Wuckert Jr, Isaac Morehouse, Connor Murray, Daniel Krawsiz, and a few others in the BSV space including myself. The newspaper will also have a unique Satoshi Doodle artwork within.


  • 0.75 BSV initial price
  • 1,000 max supply for the tokens
  • Launched 1st July 2021
  • Any tokens left unsold after 31st August 2021 will be pulled from the market and destroyed, leaving a max supply of whatever was purchased
  • Initial price at 0.75 BSV
  • Content Contributors: Dr. Craig Wright, Satoshi Doodles, Isaac Morehouse, Kurt Wuckert Jr, Daniel Krawisz, Steve Patterson, Connor Murray, Output Intern, Meme Reserve, The Soon Times and Joshua Henslee.


There are 10 articles and 1 artwork in the newspaper from a total of 11 contributors, so I would guess the newspaper might be 25-30 pages. There will only be a physical version of it, so it’s quite possible that these articles will only be read by those who purchase the newspaper.

The initial listed price is 0.75 BSV, which is ~$105. Revenue earned is split among the 11 different contributors, although this is not in real-time as automatic revenue share like on Streamanity is not a feature yet on RelayX.

At 0.75 BSV, it is quite a high price point. This is reflected in the number of sales so far - about 11 tokens have sold, for a total revenue of 8.25 ($1,163). Given the maximum supply is 1,000, the sale of the Mornin’ Run newspaper has not attracted speculators looking for a flip. As the cutoff point (31st August) also means no more redemptions for the physical newspaper, speculators who might have jumped in if it looked like the final supply would end up quite low won’t be able to either.

Market Not Hot on Physical Books?

A few weeks back Isaac Morehouse released his latest book, the Inner Game of Startups on Canonic. The physical book was priced at $50, and so far 54 copies have sold. Initial max supply was 250 but was later reduced to 100. Sales started off quite slow, with around 12 copies being sold in the first 24hours. Morehouse also commented that he needed to sell a minimum of 100 copies in order to get the book printing to breakeven. There may be something similar for these Mornin’ Run Newspapers.

As the Mornin’ Run newspaper is somewhat comparable to Morehouse’s physical book, with also a high price tag - sales could follow a similar pattern. One or two tokens selling every few days - unless there were more marketing surprises in store. As tokenomics don’t appeal to speculators, the current buyers are ones who are actually interested in owning the physical newspaper and reading the content within.

A Potential Keepsake

It is notable that Dr. Craig Wright is one of the contributors to the Mornin’ Run Newspaper. This might add more value to the Mornin’ Run physical newspaper as a potential keepsake. The website does also read that this is the First Edition - so the assumption is that there may be more. However perhaps the first edition will be the only physical one and the subsequent editions will be digital versions which will keep the first physical one more like a rare collectible.

As potential buyers do not have much of an idea of what the contents or the quality of the newspaper will be, it is currently a bit like buying a mystery box. Perhaps in the weeks to come more excerpts and quotes from the written articles and artwork will be shared. Given Henslee’s expertise is as a coder, one might also wonder how good his printing press abilities are. Will the final end product give off that same vintage/classic feel that the website gives?

If the later editions of the Mornin’ Run will be digital and the first one will be the only physical one, the physical newspaper may follow a similar path to the Twetch Rare Hats - the price rising or falling in dependence upon the success of the Mornin’ Run brand.

Given Henslee’s recent video tutorial on using a RUN token as a digital key, it wouldn’t make sense to me that subsequent version of the Mornin’ Run newspaper would be physical only. With Henslee’s expertise as a coder there would be many novel and valuable features he could code into for past and future Mornin’ Run tokens. Plus the lower costs of doing a digital-only product will be appealing.

What of SHUA?

Several recent projects have leveraged the SHUA brand, like the SHUAAA rap song in the Bitcoin EP1, the ShuaKoozies and SHUA T-Shirts. Yet besides the initial announcement that SHUA coins could be used to get a 50% discount on Henslee’s consulting fee there have been no further developments from Henslee himself for SHUA coins.

Some have commented asking if payment for the Mornin’ Run newspaper can be made in SHUA, to which Henslee replied that because the RelayX and RUN APIs are not fully opened, there are limitations to what is possible with RUN tokens right now. Henslee did comment that these should be opening up soon so perhaps then we will see further developments with SHUA.

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