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Are NFTs Back To Life? – Ordinals & BRC-20 NFTs Are Now Making New NFT Wave

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Bitcoin Ordinals
Bitcoin Ordinals

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The non-fungible token market has begun twitching out of its torpor, defying numerous reports that it had been dead. Non-fungible tokens are clawing back to an upside trajectory after suffering an awful and brutal comedown in the past several months.

In the past ten months, the NFT market has been suffering massive losses. But, in recent weeks, NFTs have been getting some positive momentum. Memecoins are slightly calming down, and Ordinals and ERC-20 NFTs are now leading the NFT resurgence. Below we will unpack these newest trends in the crypto world in a language anyone can understand.

BRC-20 NFTs – A New Frontier In Bitcoin

BRC-20 is an experimental token standard that works on the Bitcoin network. It allows people to create unique assets called “inscriptions,” similar to NFTs. These BRC-20 tokens are interchangeable, representing digital goods, services, or even real-world items.

In simpler terms, BRC-20 is like a new rulebook being written for how tokens can operate on the Bitcoin network. This rulebook aims to make it easier for developers to create and manage tokens on Bitcoin, potentially expanding Bitcoin’s use beyond just being a store of value.

Bitcoin Ordinals – The Uprising NFT Trend

Bitcoin Ordinals are a way for satoshis (individual units of bitcoin) to be numbered, identified, and even inscribed with information, transforming them into non-fungible tokens. A satoshi, or sat, is the smallest unit of Bitcoin, named after Bitcoin’s creator, Satoshi Nakamoto.

In the simpler context of NFTs and crypto, ordinal refers to a method of introducing an element of ranking or order. Each token minted under this standard can have a unique identifier or rank. A series of collectible cards, each with a unique number, is a perfect example. The lower the number of collectible cards, the higher their rarity and value.

Top NFT Headlines This Week

Peter Schiff Dives Into NFTs – His Twitter Account Hacked

Earlier this week, Peter Schiff, a well-known public figure in the world of finance and a vocal critic of crypto, made a surprise announcement about him joining the crypto space. Crypto critic Peter Schiff revealed plans to launch his NFT art collection based on Bitcoin. His NFT collection includes a physical painting, 50 prints, and 50 digital versions inscribed as Ordinal NFTs on the Bitcoin blockchain.

In related developments, hackers breached Peter Schiff’s Twitter account a few days after joining the crypto space. The motive behind the hackers’ decision to target Peter Schiff’s Twitter account is more precise, considering he has been a long-term crypto-critic who turned into a crypto-believer. Thus, he poses some influence in the crypto world as hackers sought to exploit this newfound interest to promote a non-existent digital coin.

Alchemy Pay Taps Mastercard For NFT Checkout

Alchemy Pay, a payment solutions provider that seamlessly connects fiat and crypto economies to global consumers, merchants, and developers, has partnered with multinational fintech firm Mastercard to bring “NFT Checkout,” a direct payment method for digital artwork. The integration will improve accessibility to the NFT market and revolutionize how users interact with digital artwork.

Azuki Set To Host Its NFT Event This Month

Azuki, an NFT collection from digital asset incubation studio Chiru Labs, is set to host its highly anticipated non-fungible token event late this month. The team behind Azuki announced the NFT event in April. Registration for the event is running on the token-proof mobile app until June 23. Azuki NFTs are pumping in the wake of the anticipated NFT event, becoming the second most traded NFTs on CoinGecko. In the past 24 hours, Azuki has amassed a trading sales volume of 2,061 ETH.

NFT EtherRock #80 Sells For $250K

In a surprising mint, an anonymous buyer made headlines after purchasing EtherRock #80, a rare digital collectible, for a staggering 130 ETH, the equivalent of $248,184. Etherscan data shows that the transaction was initiated on June 2, 2023.

Launched in 2017, EtherRocks is a non-fungible token collection featuring a limited edition of 100 Ethereum NFTs. Each EtherRock was designed with a unique number, determining its rarity and value. They were created as an experiment to explore the possibility of using blockchain technology to produce and distribute art.

Wall St Bulls NFTs – Secure Your Slot Now

This week, the Wall St Bulls is another ordinal collection making a strong NFT wave. The NFT collection was launched last week by Wall Street Bulls, with 420 of these Ordinals ready to mint. This NFT collection has successfully sold, raising 24,000 in the past seven days.

Back in 2021, the same team released a collection of NFTs via their Twitter account known as Wall Street Bulls. The NFT collection, which features a fixed set of 10,000 NFTs on Ethereum, sold out in a record time of 32 minutes and made over $2.5 million.

In the meantime, the first phase of Wall St Bulls Ordinals has sold, with another hot batch expected to start soon. The Wall Street Memes community has a token ($WSM) presale that has already raised more than $3.7 million in just days.NFT investors, who did not participate in the first ordinal mint, can now join the presales to secure their slot in the upcoming second batch of Wall St Bulls ordinals.

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