In an unexpected turn of events, a Bitcoin-based project has emerged as the top non-fungible token (NFT) collection in terms of weekly volume. Bitcoin-Based ‘Space Pepes’ Become Top-Traded NFT Collection Bitcoin-Based ‘Space Pepes’ Become Top-Traded NFT Collection Surpassing renowned projects like the Bored Ape Yacht Club, the Space Pepes NFT project has garnered trades worth nearly $7.
4 million within just seven days. The development is particularly remarkable considering that NFTs on Bitcoin were once deemed implausible. However, the advent of Ordinals, a method of embedding arbitrary data such as text, audio, and video into the smallest units of Bitcoin known as Satoshis, has revolutionized the landscape.
Traditionally, Ethereum has been the go-to blockchain for successful NFTs, with projects on other blockchains relatively less prominent. Nevertheless, Ethereum’s dominance may soon face competition if Ordinals’ momentum persists. Given Bitcoin’s age and higher market value, NFTs inscribed on its blockchain could potentially gain substantial cultural significance.
CryptoSlam previously reported that the Bitcoin blockchain has claimed the second-highest NFT volume in the past week, reaching $35.8 million.
US debt ceiling talks struggle before deadline as ‘major issues’ remain
Democratic and Republican negotiators struggled on Friday to reach a deal to raise the U.S. government’s $31.4 trillion debt ceiling, as they remained at odds over whether to stiffen work requirements for some anti-poverty programs. Read more >>
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Nike Trips Up .SWOOSH Launch While Bitcoin NFTs SoarBitcoin NFTs are having their moment, placing them just behind Ethereum NFTs in terms of sales. Also, Nike’s dotSWOOSH drop was not a walk in the park for eager buyers. RosiePerper wraps up this week’s Web3 news:
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