bitcoin Archives | NFT CULTURE https://www.nftculture.com/tag/bitcoin/ NFT News, Web3 Artists, NFT Collectors, NFT Marketplaces and more Tue, 06 Feb 2024 11:38:48 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.3 https://d34jlxpwrja7q9.cloudfront.net/wp-content/uploads/2022/01/cropped-EmpressRegnant_1080_PNG-32x32.png bitcoin Archives | NFT CULTURE https://www.nftculture.com/tag/bitcoin/ 32 32 The Magic Behind Taproot Wizards’ $13M Triumph with Quantum Cats https://www.nftculture.com/nft-projects/the-magic-behind-taproot-wizards-13m-triumph-with-quantum-cats/ Tue, 06 Feb 2024 11:38:20 +0000 https://www.nftculture.com/?p=18890

A Revolutionary Sale in the NFT World In an extraordinary display of innovation and market demand, Taproot Wizards, a project leveraging Bitcoin’s Ordinals protocol, has made a staggering $13 million from their first collection, “Quantum Cats,” without the typical pillars of a blockbuster sale. This event marks a significant milestone […]

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A Revolutionary Sale in the NFT World

In an extraordinary display of innovation and market demand, Taproot Wizards, a project leveraging Bitcoin’s Ordinals protocol, has made a staggering $13 million from their first collection, “Quantum Cats,” without the typical pillars of a blockbuster sale. This event marks a significant milestone in the evolution of NFTs and the broader digital art market, showcasing a shift towards a new era where art, technology, and finance converge in unprecedented ways.

The Quantum Leap for NFTs on Bitcoin

Bitcoin’s Ordinals project, Taproot Wizards, successfully sold all 3,000 of its “Quantum Cats” digital images, fetching a price of 0.1 BTC ($4,265) each. This sale not only highlights the growing interest in NFT-like collectibles on Bitcoin but also the resilience and enthusiasm of the community, even in the face of technical setbacks that delayed the minting process.

The Ordinals Inscriptions: A New Frontier

The Ordinals protocol, introduced by Casey Rodarmor in early 2023, has opened up the Bitcoin blockchain to NFTs through “inscriptions.” This innovation allows for the minting and storage of NFTs directly on the Bitcoin blockchain, sparking a wave of excitement and debate within the community. While some worry about potential network congestion and increased fees, others see this as a revitalization of Bitcoin’s development and usage.

The Significance of Taproot Wizards’ Success

The success of Taproot Wizards’ “Quantum Cats” sale is not just a testament to the project’s appeal but also to the broader potential of NFTs on Bitcoin. It demonstrates a significant shift in how digital art and collectibles are perceived, valued, and traded. The project’s ability to generate such substantial revenue without traditional marketing or the involvement of renowned artists underscores the power of community and technological innovation in the digital age.

Looking Ahead: The Future of NFTs and Bitcoin

As the Bitcoin blockchain becomes a new venue for NFTs, the implications for artists, collectors, and investors are vast. The success of Taproot Wizards and the Quantum Cats collection could herald a new wave of creative and financial opportunities, pushing the boundaries of what’s possible in the realm of digital art and blockchain technology.

TL;DR

Taproot Wizards’ “Quantum Cats” sale raked in $13 million, selling all 3,000 NFT-like collectibles on the Bitcoin blockchain despite significant technical hurdles. This marks a pivotal moment for NFTs on Bitcoin, showcasing the immense potential of the Ordinals protocol and inscriptions. The event signals a shift towards innovative digital art sales, emphasizing the power of community, technology, and direct blockchain interactions.

 

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2024: The Year of Alternative Layer 1s Rising in the NFT Realm – SOL, Tezos, and SEI Lead the Charge https://www.nftculture.com/nft-news/2024-the-year-of-alternative-layer-1s-rising-in-the-nft-realm-sol-tezos-and-sei-lead-the-charge/ Tue, 02 Jan 2024 15:31:42 +0000 https://www.nftculture.com/?p=18745

The Dawn of a New Era in NFTs: Exploring the Rise of Alternative Layer 1s As we venture into 2024, the NFT landscape is undergoing a seismic shift, with alternative Layer 1 blockchains like Solana (SOL), Tezos, and SEI emerging as significant players. This shift marks a pivotal moment in […]

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The Dawn of a New Era in NFTs: Exploring the Rise of Alternative Layer 1s

As we venture into 2024, the NFT landscape is undergoing a seismic shift, with alternative Layer 1 blockchains like Solana (SOL), Tezos, and SEI emerging as significant players. This shift marks a pivotal moment in the evolution of the NFT ecosystem, diversifying the platforms on which digital art and collectibles thrive.

1. Diversification Beyond Ethereum: A Breath of Fresh Air for NFTs

Historically, Ethereum has been the dominant force in the NFT space. However, alternative Layer 1s like SOL, Tezos, and SEI offer fresh opportunities. Their unique features, such as lower transaction fees and faster processing times, make them attractive to artists and collectors seeking new avenues for NFT creation and trade.

2. Niche Communities and Innovative Use-Cases

These alternative blockchains are carving out niche communities and fostering innovative use-cases. For instance, Tezos has become a hub for eco-conscious artists due to its energy-efficient design, while SEI’s high throughput is appealing for high-frequency trading NFTs.

3. Enhanced Scalability and Performance

Scalability remains a key concern in the NFT space. Alternative Layer 1s address this issue head-on, offering superior scalability and performance compared to older blockchains. This feature is crucial as the NFT market expands and requires more efficient infrastructure.

4. Tailored Solutions for Diverse Needs

Each of these alternative Layer 1s brings tailored solutions to the table. Solana, known for its lightning-fast speeds, is ideal for projects that require quick transactions. Tezos, on the other hand, appeals to those prioritizing eco-friendliness.

5. Growing Ecosystems and Partnerships

The expanding ecosystems and partnerships surrounding these blockchains are a testament to their growing influence. Collaborations with artists, brands, and tech companies are broadening the scope and appeal of NFTs on these platforms.

BTC’s Entry into NFTs: Ordinals and Inscriptions

2024 also witnesses a groundbreaking development in the NFT space with Bitcoin (BTC) introducing ordinals and inscriptions. This new concept involves directly inscribing digital assets onto individual satoshis, the smallest unit of Bitcoin, adding a fresh dimension to the NFT market.

The Significance of Bitcoin’s Ordinals

Bitcoin’s foray into the NFT world is notable for several reasons. Firstly, it leverages the robust security and widespread recognition of the Bitcoin network. Secondly, ordinals introduce a unique way of tokenizing assets, differing from traditional NFT standards. This innovation could attract a new wave of collectors and creators, eager to explore the possibilities within the Bitcoin ecosystem.

Implications for the NFT Landscape

The introduction of Bitcoin ordinals and inscriptions is poised to enrich the NFT landscape. It not only expands the range of blockchain options for NFTs but also brings the credibility and stability of Bitcoin to the forefront of digital art and collectibles.

The Unstoppable Rise of Layer 2s: Ethereum’s Counter

While alternative Layer 1s and Bitcoin’s new venture are making waves, Ethereum’s Layer 2 solutions, particularly Arbitrum, are not to be overlooked, especially in the gaming sector. Arbitrum is poised to extend its lead in 2024, offering a blend of Ethereum’s security with enhanced scalability and lower fees, making it ideal for NFT-based games.

Conclusion: A Balanced NFT Future

2024 promises to be a landmark year for NFTs, with both alternative Layer 1s, Bitcoin’s innovative ordinals, and Ethereum’s Layer 2 solutions like Arbitrum playing critical roles. This balanced growth ensures a vibrant, diverse, and technologically advanced NFT ecosystem.

TLDR: 2024 marks the rise of alternative Layer 1 blockchains like Solana, Tezos, and SEI in the NFT space, alongside Bitcoin’s introduction of ordinals and inscriptions, offering diversification, niche communities, scalability, and tailored solutions. Ethereum’s Layer 2 solutions, especially Arbitrum, continue to be pivotal, particularly in NFT gaming. The year promises a balanced and thriving NFT ecosystem.

 

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Commemorating “The Legend”: John McAfee, A Life of Defiance and Innovation https://www.nftculture.com/nft-art/commemorating-the-legend-john-mcafee-a-life-of-defiance-and-innovation/ Thu, 14 Sep 2023 14:42:36 +0000 https://www.nftculture.com/?p=18009

In the rapidly evolving world of crypto and blockchain, few names stand out as vividly as that of John McAfee. Trevor Jones, a renowned artist, beautifully captures the spirit of this iconic figure in his 2018 portrait, “The Legend”. After painting this portrait of larger-than-life businessman, programmer and crypto personality, […]

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In the rapidly evolving world of crypto and blockchain, few names stand out as vividly as that of John McAfee. Trevor Jones, a renowned artist, beautifully captures the spirit of this iconic figure in his 2018 portrait, “The Legend”.

After painting this portrait of larger-than-life businessman, programmer and crypto personality, John McAfee in 2018, John invited me to his beach house in an artist residency role. After much contemplation I decided not to take him up on his offer, although now I do regret not going. What an adventure it would have been! – Trevor Jones

The world was stunned when, in 2021, John McAfee met a tragic end in a Spanish prison cell. Though his death was officially ruled a suicide, there remains a shroud of mystery and conspiracy theories. John, himself, seemed to foresee this; two years prior to his demise, he openly proclaimed, “If I suicide myself, I didn’t. I was whackd.” A sentiment so strong, he etched it onto his skin with a “$WHACKD” tattoo on his right arm.

Despite the controversies and shadows that danced around his life, McAfee’s legacy is undeniable. He was an emblem of defiance, showcasing how groundbreaking innovations often emerge from the offbeat and an unyielding pursuit of one’s beliefs.

To pay tribute to this extraordinary life, on September 18th – marking McAfee’s birth – Trevor Jones will unveil a limited-edition physical print and accompanying NFT package of “The Legend”. The artwork is symbolic, crafted with oil and wax atop articles from the Financial Times, particularly those spotlighting Bitcoin and the larger world of cryptocurrencies.

These exclusive prints, measuring 60 x 80 cm, come signed and are restricted to an edition of just 65. Each purchase includes packaging in a meticulously crafted, premium-quality box, with shipping costs encompassed in the price.

For collectors eager to get their hands on this piece, a note of importance: the artwork is presently in pre-sale, available solely for existing collectors of Trevor Jones. As the public sale commences on September 18th, the starting price point will be revised to $2,500. For any queries or further details, prospective buyers are encouraged to reach out to the Collector Service team.

For those fortunate to be in possession of Trevor’s “The Oath” or “Bitcoin Angel” NFTs, they stand eligible for this pre-sale, a testament to the interconnected world of digital art.

TL;DR: Artist Trevor Jones pays homage to the enigmatic John McAfee with a limited edition print and NFT bundle titled “The Legend”. This piece, made in 2018, will be released on McAfee’s birthday, September 18th. The art is crafted over Financial Times articles and focuses on the crypto universe. Currently, in pre-sale, the piece is exclusively for Trevor Jones collectors. The starting price on September 18th will be $2,500.

 

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OnChainMonkey Embarks on a Bold Migration from Ethereum to Bitcoin, Citing Enhanced Security https://www.nftculture.com/ordinals/onchainmonkey-embarks-on-a-bold-migration-from-ethereum-to-bitcoin-citing-enhanced-security/ Fri, 08 Sep 2023 14:54:01 +0000 https://www.nftculture.com/?p=17967

In an announcement that’s shaking up the NFT space, OnChainMonkey NFT collection is making a daring transition. The collection is moving its comprehensive array of 10,000 NFTs from Ethereum to Bitcoin. As first reported by Cointelegraph, this massive transition is set to span several months and is a testament to […]

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In an announcement that’s shaking up the NFT space, OnChainMonkey NFT collection is making a daring transition. The collection is moving its comprehensive array of 10,000 NFTs from Ethereum to Bitcoin. As first reported by Cointelegraph, this massive transition is set to span several months and is a testament to the overwhelming trust the community has in Bitcoin’s unparalleled security and decentralization mechanisms.

Deciphering the Bold Move

Danny Yang, CEO of Metagood, unveiled this impending transition on September 7th. He emphasized that their prime collection, OCM Genesis, will transition from Ethereum’s realm to that of Bitcoin. Originally launched on Ethereum in September 2021, the OnChainMonkey collection is making this stride mainly because of the community’s unanimous sentiment. They resoundingly believe in the security and decentralization features Bitcoin Ordinals offers over Ethereum.

Highlighting this sentiment, Yang stated, “The Bitcoin Ordinal protocol distinctly outshines the Ethereum NFT protocol in areas of decentralization and security. This paves the way for high-caliber NFTs to truly shine on Bitcoin.” A monumental 99% of OnChainMonkey tokenholders endorsed this shift, spotlighting their shared conviction in the benefits of Bitcoin.

However, transitioning isn’t a cakewalk. Metagood anticipates a sizable expenditure, which might exceed $1 million, to ensure this migration is hiccup-free.

 

Preserving Legacy and Authenticity

Amidst the intricacies of this process, every newly crafted OnChainMonkey on Bitcoin promises to have a clear lineage traced back to its Ethereum counterpart. To effectuate this, holders will be awarded the corresponding Bitcoin Ordinal once they’ve decommissioned their Ethereum NFT.

Yang also revisited Metagood’s prior ventures to showcase their proficiency in handling such tasks. He remarked, “Our trailblazing endeavors include inscribing 10,000 images of a collection on Bitcoin, initiating a parent-child collection with OCM Dimensions 300, and pioneering recursive inscriptions on Bitcoin.”

Yet, Ethereum continues to reign supreme in the NFT marketplace. As per CryptoSlam’s recent data, Ethereum is leagues ahead with a whopping $236.8 million in NFT deals over the past month. Bitcoin, while making commendable strides, is currently placed sixth with $11.1 million.

Yang, however, is buoyant about Bitcoin’s prospects. He envisions a vibrant Bitcoin-centric NFT ecosystem and believes that both Bitcoin and Ethereum have the potential to co-exist and prosper.

Ordinals is an elegant protocol, and like Bitcoin, is both simple and powerful.

 

Snapshot of the Present Market

Presently, OnChainMonkey NFTs are traded at an average baseline price of 1.10 Ether (ETH). They’ve accumulated an impressive transaction volume exceeding 20,550 ETH since debuting on the illustrious NFT marketplace, OpenSea, in September 2021. Notably, a hefty 31% of the 2,900 OnChainMonkey NFT aficionados are unique, as stated by OpenSea.

The transition was further facilitated by the inception of Ordinals and BRC-20 tokens at the beginning of this year, a development following the successful Taproot soft fork in November 2021.

TL;DR: As first spotlighted by Cointelegraph, OnChainMonkey NFT collection is transitioning its entire assortment of 10,000 NFTs from Ethereum to Bitcoin. The community’s faith in Bitcoin’s security and decentralization features fuels this move.

 

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Bitcoin Emerges as Second-Largest NFT Blockchain, Challenging Ethereum’s Dominance https://www.nftculture.com/nft-news/bitcoin-emerges-as-second-largest-nft-blockchain-challenging-ethereums-dominance/ Fri, 26 May 2023 13:48:21 +0000 https://www.nftculture.com/?p=17178

The year 2023 is shaping up to be a defining moment for Bitcoin Ordinals, as the world’s first blockchain solidifies its position in the NFT market. While Ethereum has long held the top spot in terms of market capitalization, Bitcoin is now steadily climbing the ranks, vying to become the […]

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The year 2023 is shaping up to be a defining moment for Bitcoin Ordinals, as the world’s first blockchain solidifies its position in the NFT market. While Ethereum has long held the top spot in terms of market capitalization, Bitcoin is now steadily climbing the ranks, vying to become the leading NFT blockchain. In fact, it has already secured the second position, demonstrating a rapid rise in popularity.

Bitcoin’s NFT Sales Surge

Bitcoin has made significant strides in the NFT space, as reported by the NFT industry data aggregator CryptoSlam. It has not only secured a spot among the top ten all-time NFT blockchains by sales volume but has also witnessed a remarkable surge in revenue over the past month. During this period, Bitcoin’s NFT sales volume surpassed that of its competitors, including Solana, with an impressive $169 million. Although Ethereum still holds the top spot with around $393 million, Bitcoin’s ascent is undeniable.

Bitcoin’s success in the NFT market is not solely attributed to uncategorized Ordinals. Various organized collection efforts have found success on the blockchain, notably Space Pepes and Bitcoin Frogs. These collections alone generated substantial sales volumes of $12 million and $9.6 million, respectively, in the past 30 days. Major brands and historical projects have also found a home on the Bitcoin blockchain, solidifying its position among the top NFT sales leaders.

Challenging Ethereum’s Dominance

While Ethereum’s position as the leading NFT blockchain is formidable, Bitcoin is gradually closing the gap. Ethereum has processed a staggering $390 million worth of on-chain NFT transactions in the last 30 days, while Bitcoin is approaching half that figure. This remarkable progress is a testament to the explosive popularity of Ordinals, which have transformed Bitcoin into a hub for art, movies, collectibles, tickets, and even video games.

Understanding Bitcoin Ordinals and Inscriptions

Bitcoin’s Ordinals protocol, developed by Casey Rodamor, assigns serial numbers to individual satoshis, the smallest unit of bitcoin. These serial numbers, similar to speciality serial numbers on dollar bills, have driven tremendous transaction fees to miners. Ordinals have become so influential that NFT traders have co-opted the term, referring to NFTs inscribed on a satoshi as “ordinals” or “inscriptions.” Additionally, Bitcoin’s BRC-20 standard enables the creation of tokens attached to Ordinals, opening up possibilities for DeFi, tokenization, and experimentation directly on Bitcoin.

Will the Bitcoin Boom continue?

While Bitcoin’s ascent in the NFT market is impressive, surpassing Ethereum will require significant trading activity. Ethereum’s 38 million NFT transactions since inception dwarf Bitcoin’s 320,000. However, with the growing popularity of Ordinals, the number of Bitcoin NFTs continues to spike month after month. The concept of a “flippening,” where Bitcoin overtakes Ethereum as the leading NFT blockchain, might not be as far-fetched as it seems.

Bitcoin is emerging as a powerful contender in the NFT market, challenging Ethereum’s dominance. With its Ordinals gaining traction and a diverse range of collections finding success on the blockchain, Bitcoin has become the second-largest NFT blockchain. While Ethereum remains the frontrunner, the rapid rise of Bitcoin in NFT sales volume and its innovative use of Ordinals and inscriptions highlight its potential to reshape the NFT landscape. The future holds exciting possibilities for Bitcoin as it continues to make waves in the NFT space.

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Binance NFT Marketplace to Offer Bitcoin Ordinals: Expanding Multichain Ecosystem https://www.nftculture.com/nft-news/binance-nft-marketplace-to-offer-bitcoin-ordinals-expanding-multichain-ecosystem-and-revenue-generating-opportunities/ Tue, 09 May 2023 12:50:50 +0000 https://www.nftculture.com/?p=16952

Bitcoin NFTs, also known as Bitcoin ordinals, are a new trend in the world of digital assets. Despite gaining popularity in the Web3 space, they have been met with hesitation from some members of the Bitcoin maximalist community. These individuals believe that the concept of Bitcoin ordinals deviates from the […]

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Bitcoin NFTs, also known as Bitcoin ordinals, are a new trend in the world of digital assets. Despite gaining popularity in the Web3 space, they have been met with hesitation from some members of the Bitcoin maximalist community. These individuals believe that the concept of Bitcoin ordinals deviates from the original peer-to-peer ethos of Bitcoin and creates unnecessary complexity within the blockchain ecosystem.

Binance Bringing Ordinals Mainstream

However, the tides may be shifting, as more marketplaces continue to adopt and offer digital assets such as Bitcoin ordinals. Binance NFT marketplace recently announced that it will support Bitcoin ordinals on its platform in late May, and OKX and Magic Eden have already integrated them into their marketplaces. As these platforms offer more ways for users to trade and purchase Bitcoin ordinals, it is possible that more members of the Bitcoin community will begin to accept and even embrace this new trend.

Additionally, there is a tremendous opportunity for Bitcoin ordinals at this present time due to the recent shift in the crypto market. After months of dominance, Ethereum has started to move back to altcoins, leaving a void for Bitcoin to fill. This shift has led to increased interest in Bitcoin and Bitcoin-based digital assets, including Bitcoin ordinals.

 

Maxis are coming around too.

Despite the controversy surrounding Bitcoin ordinals, they offer unique benefits for both creators and users. Creators can use them to generate additional revenue and receive royalties for their work, while users can purchase and trade these digital assets using their existing wallets. As more platforms continue to offer Bitcoin ordinals, it is likely that their acceptance within the crypto community will continue to grow.

In conclusion, Bitcoin ordinals are a new trend in the world of digital assets that have been met with hesitation from some members of the Bitcoin maximalist community. However, the tides may be shifting, as more marketplaces continue to adopt and offer digital assets such as Bitcoin ordinals. Additionally, the recent shift in the crypto market provides a tremendous opportunity for Bitcoin ordinals at this present time. While controversy surrounding Bitcoin ordinals remains, their growing popularity and unique benefits for both creators and users suggest that their acceptance within the crypto community will continue to grow.

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Beyond Ethereum: Bitcoin Ordinals Break $3m Inscriptions Taking the Crypto Industry by Storm https://www.nftculture.com/nft-news/beyond-ethereum-bitcoin-ordinals-break-3m-inscriptions-taking-the-crypto-industry-by-storm/ Thu, 04 May 2023 13:32:43 +0000 https://www.nftculture.com/?p=16916

Bitcoin Ordinals have recently taken the crypto industry by storm, with registrations surging to an all-time high of 3.4 million last week. This explosion of interest in the protocol is exciting news for the NFT market and suggests that the crypto industry is becoming more interested in NFTs and their […]

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Bitcoin Ordinals have recently taken the crypto industry by storm, with registrations surging to an all-time high of 3.4 million last week. This explosion of interest in the protocol is exciting news for the NFT market and suggests that the crypto industry is becoming more interested in NFTs and their applications beyond Ethereum.

Ordinals Protocol allows users to embed data into the Bitcoin blockchain by inscribing references to digital art into small Bitcoin-based transactions. Despite the skyrocketing fees, the surge in daily enrollments began on April 21st and peaked on May 1st, with over 372,000 enrollments in just 24 hours. This surge in registrations contributed to an all-time high in daily BTC transactions on May 1st, reaching 682,281.

Although most registrations for the protocol are text-based, followed by applications and JPEG images, the surge in enrollments is significant for the industry. Bitcoin Ordinals NFT is compliant with the BRC-20 standard – Bitcoin Request for Comment number 20 – which was introduced last March, enabling new tokens to be minted on the BTC network.

What’s also interesting is that BTC maximalists used to be very opposed to ordinals, but appear to be coming around. The surge in registrations may be evidence that Bitcoin Ordinals NFT is becoming more accepted among BTC maximalists as they realize the potential for NFTs on the Bitcoin blockchain.

The explosion in numbers and daily enrollments is exciting news for the crypto industry and suggests that there is a growing demand for NFTs on the Bitcoin blockchain. With the surge in interest in Bitcoin Ordinals NFT, we can expect to see more innovation and growth in the NFT market.

Bitcoin Ordinals NFTs are not only contributing to the growth of the NFT market but also to the overall Bitcoin network by incentivizing miners, prioritizing valuable transactions, and enhancing network security. While the high fees may put a higher price tag on transactions on the network, proponents of Ordinals believe that the benefits outweigh the costs and that it opens up new use cases for Bitcoin, bringing in liquidity, new users, and developers, ultimately making Bitcoin more valuable through better user experience and more use cases.

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Venmo Unlocks Crypto Transfers, Takes Major Step Towards Mainstream Adoption https://www.nftculture.com/nft-news/venmo-unlocks-crypto-transfers-takes-major-step-towards-mainstream-adoption/ Mon, 01 May 2023 12:49:32 +0000 https://www.nftculture.com/?p=16869

PayPal’s Venmo app has quietly made a major move in the world of crypto. From May 2023, Venmo users will be able to transfer crypto to other Venmo accounts, PayPal accounts, and external wallets, including Ethereum MetaMask wallets. While PayPal and Venmo have allowed users to buy, hold and sell […]

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PayPal’s Venmo app has quietly made a major move in the world of crypto. From May 2023, Venmo users will be able to transfer crypto to other Venmo accounts, PayPal accounts, and external wallets, including Ethereum MetaMask wallets. While PayPal and Venmo have allowed users to buy, hold and sell crypto for some time, this is the first time that transfers have been available. Previously, crypto was stuck within the PayPal walled garden, but now it has been unlocked, giving a vast user base access to the larger crypto ecosystem.

To put this into perspective, Venmo had a payment volume of $244 billion and 78 million active users in 2022, with an expected increase to 85 million in 2023. Of those Venmo crypto users, 74% held their crypto throughout 2022, and 50% added to their crypto holdings in 2023. Although the total number of crypto users is unknown, the size of Venmo’s overall user base is massive.

This move is a significant step towards onboarding and unlocking crypto functionality. When crypto is locked up, it’s purely an investment asset. However, when it is transferable, it becomes a currency. The real value of crypto is unlocked when it can be used to buy everyday goods and services. When this happens, holding crypto over USD will become a much more viable option for most. Adding the transfer function is a big step towards that future.

Payments to businesses are already a core function of the Venmo app, meaning that businesses can now receive payments via crypto from 78 million users. This is a massive step in bringing crypto to the masses, and it’s clear that PayPal/Venmo’s latest move will help to increase crypto adoption further.

Venmo Rise and Embrace With Crypto

PayPal’s Venmo app has quietly made a major move in the world of crypto. From May 2023, Venmo users will be able to transfer crypto to other Venmo accounts, PayPal accounts, and external wallets, including Ethereum MetaMask wallets. While PayPal and Venmo have allowed users to buy, hold and sell crypto for some time, this is the first time that transfers have been available. Previously, crypto was stuck within the PayPal walled garden, but now it has been unlocked, giving a vast user base access to the larger crypto ecosystem.

Venmo, founded in 2009, is a peer-to-peer payment app that allows users to send money to each other using their smartphones. The app has grown rapidly in popularity, particularly among younger generations, as it has made it easier and more convenient to split bills, pay friends back, and make other small transactions. Venmo has also become somewhat of a social media platform, with users often adding comments or emojis to their payment transactions.

In 2020, Venmo added support for buying, holding, and selling cryptocurrencies, starting with Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. This move followed PayPal’s entry into the crypto market earlier that year. With this latest announcement, Venmo is taking another step towards becoming a major player in the world of crypto.

This move is a significant step towards onboarding and unlocking crypto functionality. When crypto is locked up, it’s purely an investment asset. However, when it is transferable, it becomes a currency. The real value of crypto is unlocked when it can be used to buy everyday goods and services. When this happens, holding crypto over USD will become a much more viable option for most. Adding the transfer function is a big step towards that future.

Payments to businesses are already a core function of the Venmo app, meaning that businesses can now receive payments via crypto from 78 million users. This is a massive step in bringing crypto to the masses, and it’s clear that PayPal/Venmo’s latest move will help to increase crypto adoption further.

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Justin Aversano is coming to BTC with “Colin in the car” https://www.nftculture.com/nft-news/justin-aversano-is-coming-to-btc-with-colin-in-the-car/ Sat, 11 Feb 2023 13:32:24 +0000 https://www.nftculture.com/?p=15422

Get ready, art lovers! Justin Aversano is taking the crypto world by storm with his latest photography NFT collection, “Colin in the Car.” This highly anticipated drop is set to take place on the Bitcoin network tomorrow and is sure to turn heads. Bitcoin NFTs have been all the rage […]

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Get ready, art lovers! Justin Aversano is taking the crypto world by storm with his latest photography NFT collection, “Colin in the Car.” This highly anticipated drop is set to take place on the Bitcoin network tomorrow and is sure to turn heads.

Bitcoin NFTs have been all the rage lately, with Ordinals leading the charge and a number of Ethereum-based projects hinting at crossovers to the Bitcoin network. Justin Aversano is ahead of the game, set to be one of the first prominent artists to drop a collection on the Bitcoin network with “Colin in the Car.”

This collection marks a major milestone in the world of NFTs and photography. “Colin in the Car” will be the first established photography project on the Bitcoin network and a tribute to Aversano’s early days as a street photographer. With only 250 mints available, the collection is expected to be highly sought after by art collectors. The mint price is set for 0.2 BTC, roughly $4,300 based on current market prices.

Justin Aversano and Twin Flames

Justin Aversano has made a name for himself in the world of NFTs and photography. He was the first to launch a photography collection on the Ethereum network with his Twin Flames collection, which quickly gained a following among art collectors and enthusiasts. In a recent Discord announcement, Aversano expressed his excitement about bringing his work to the Bitcoin network, recognizing the unprecedented level of security and permanence it offers for his art.

If you’re a holder of Aversano’s previous works, be sure to head over to the “Colin in the Car” Discord for allowlist instructions. This is a once-in-a-lifetime opportunity to own a piece of history and a work of art that is sure to appreciate in value.

So, get ready to add some fire to your NFT collection tomorrow with Justin Aversano’s “Colin in the Car.” This drop is sure to be a major event in the crypto world, so don’t miss out!

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How To Create An Ordinal NFT: Gamma Makes it easy https://www.nftculture.com/guides/how-to-create-an-ordinal-nft-gamma-makes-it-easy/ Thu, 09 Feb 2023 11:51:47 +0000 https://www.nftculture.com/?p=15340

Not sure what Ordinals and Inscriptions are?  start here. If you’re an artist wanting to explore minting on Bitcoin you need to do a few things. WARNING this is complicated and we are not responsible for any mistakes you make.  Create a new BTC Wallet First, you should start with […]

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Not sure what Ordinals and Inscriptions are?  start here.

If you’re an artist wanting to explore minting on Bitcoin you need to do a few things. WARNING this is complicated and we are not responsible for any mistakes you make. 

Create a new BTC Wallet

First, you should start with a BTC wallet.  Consensus appears to be revolving around sparrow wallet. For the following reasons.

To ensure the proper viewing and management of ordinal inscriptions, it is recommended to use a new and unused address to receive the inscription. This helps ensure that the address only contains the ordinal and no other associated bitcoins. Using a new address also makes the wallet “forward-compatible” with future developments in ordinal inscription management.

To create a new and unused address, you can use a Bitcoin wallet like Sparrow and follow the quick setup guide provided. It’s important to note that this wallet should not be used to send bitcoins unless manual coin selection is performed to avoid sending ordinals as payment or fees. To fully utilize the benefits of ordinal inscriptions, the wallet should also be set up with Taproot-based addresses, which can still receive bitcoins from traditional Segwit addresses.

Gamma Appears to be the easiest way to create NFTs at this time. The steps are seamless.

This is not a sponsored post, but Gamma is making it easy for you to make Bitcoin NFTs Ordinal Inscriptions.

Gamma is introducing no-code ordinal inscriptions for anyone with a Bitcoin (BTC) address. The company aims to make the process of creating inscriptions simple and user-friendly.

To achieve this goal, Gamma handles four key aspects of the inscription creation process:

  1. Image optimization: Gamma accepts any image format and optimizes it for better quality and faster processing.
  2. Inscription creation: Customers can provide any image or text to be inscribed, and Gamma takes care of the rest. There’s no need for complex software or running a node. Gamma also provides live fee rate information to help customers make an informed decision on the cost of their inscription.
  3. Inscription delivery: Inscriptions are sent directly to the customer’s Bitcoin taproot or ordinals-compatible address. Once received, the inscription cannot be taken back, and the customer retains 100% ownership.
  4. Ordinal tracking and viewing: Gamma provides tracking and viewing tools to keep customers informed on the status of their inscriptions, from payment to delivery. Customers can also view and share their ordinal on the Gamma website.

 

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