A little-known crypto casino project is surging this week after unveiling new updates to its blockchain protocol. In a recent announcement, crypto casino and exchange platform Rollbit says that it’s adding support for its native token, Rollbit Coin (RLB), and the ability to deposit the governance token of the non-fungible token (NFT) marketplace Blur (BLUR). […]
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An Ethereum-based (ETH) gaming altcoin is outshining crypto markets after being listed on tech giant Apple’s app store. In a new announcement, prominent gaming metaverse Axie Infinity (AXS) says it’s expanding its global reach by joining forces with Apple to bring over its strategy-based card game to iPhone users in Latin America and East Asia. […]
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The market capitalization of the LADYS token has surpassed $140 million after surging in popularity.
On May 11, Milady (LADYS), the self-organized memecoin of the namesake anime avatar nonfungible tokens (NFT) collection, surged by over 5,250% within 24 hours to trade at a $0.0000001528 at the time of publication. The day prior, American business magnate Elon Musk tweeted a meme using the imagery of a Milady NFT, sending the average Ether (ETH) sale price of the collection soaring.
According to token developers, LADYS has "no association" with Milady creator Charlotte Fang or Milady Maker. The token "is simply paying homage to an NFT collection we all love and recognize."
"$LADYS is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. The coin is completely useless and for entertainment purposes only."
However, investors have found LADYS to encompass more than just meme value. At the time of publication, the total diluted market capitalization of the token surged past $140 million with a 24-hour trading volume of $230 million. According to the token's website, the total supply of LADYS is 888 trillion. The website further explains:
"94% of the tokens were sent to the liquidity pool (LP). LP tokens were burnt, and the contract is renounced."
Until earlier this week, the token was only available on the decentralized exchange Uniswap. The token has soared in popularity after multiple major cryptocurrency exchanges listed it on May 11. Some exchanges, such as Bybit, offered LADYS prize pools to incentivize deposits. Others, such as Bitget, seem to have remained true to LADYS' meme nature in supporting its listing decision:
"LADYS is the tokenization of the fully memetically optimized white pill. LADYS is a self-organized meme coin. LADYS is the drip currency. LADYS are the points for karma, charm and beauty. LADYS is the accumulation of clout."
Love is eternal. Love is unstoppable.$LADYS is nothing but the memetic vehicle where the infinite power of love converges with the boundless potential of tokenisation.
— Milady (@miladymemecoin) May 11, 2023
Thank you to all our exchange partners who have listed $LADY today. pic.twitter.com/CE8qudznN1
Magazine: Memecoin sends BTC fees to the moon, miner profits top $50B and more
The BRC-20 token frenzy has seen the number of Ordinals inscriptions on the Bitcoin network soar 92% in just eight days.
The number of Ordinals inscriptions on the Bitcoin (BTC) network has witnessed another meteoric rise, almost doubling from 2.5 million to 4.78 million in just the last eight days.
While the Ordinals protocol was initially used to mint images as non-fungible tokens (NFTs), users began to realize that they could use text-based inscriptions to create fungible tokens in a similar way to those minted via the ERC-20 token standard on the Ethereum (ETH) network.
These text-based inscriptions, now popularized as the BRC-20 token standard, have been the main cause of the massive uptick in Ordinals inscriptions on the Bitcoin blockchain.
As highlighted by Glassnode co-founder and chief technology officer Rafael Schultze-Kraft on Twitter, text-based inscriptions are now the most popular form of Ordinals inscription, with more than 2.8 million text-based inscriptions as of May 5.
8/ In fact, text inscriptions are now the most prominent Ordinal inscription type in the #Bitcoin network.
— Rafael Schultze-Kraft (@n3ocortex) May 4, 2023
Text: 2.8M
Images: 650k
Video: 1.8k
Audio: 347
Other: 19k
Inscriptions dashboard: https://t.co/YKwAbthEXL pic.twitter.com/O12MZj0qLT
More recent data from popular blockchain data hub Dune Analytics shows that since April 25, the overwhelming majority (99%) of all new Ordinals inscriptions have been text-based.
According to brc-20.io, a new tool that allows users to track BRC-20 tokens, there are currently a total of 14,200 new tokens hosted on the Bitcoin blockchain. Counted among the most popular Bitcoin-based tokens are “ordi”, “nals” and even a Bitcoin-based version of the now-notorious memecoin Pepe (PEPE) being listed at number 3 by total market cap.
While the total market cap of BRC-20 tokens currently hover around the $700 million mark, digital asset investment firm Galaxy Digital asserts that the market for “Bitcoin NFTs” may reach $4.5 billion by 2025.
Related: Bitcoin Ordinals community debates fix after inscription validation bug
The rise of Ordinals over the last few months has continued to spark debate around whether Ordinals are ultimately a positive for the Bitcoin ecosystem.
Some Bitcoin proponents, such as Dan Held, claim that Ordinals offers a wider spread of financial use cases for Bitcoin, while more hardline Bitcoiners argue that Ordinals stray from the original vision of Satoshi Nakamoto, who intended for Bitcoin to be used as an electronic, peer-to-peer cash system.
Meanwhile, miners have enjoyed an enormous influx of revenue due to the transaction fees related to the burst of new activity on the network.
As of May 3, 2023, the Bitcoin blockchain has witnessed a staggering 3.35 million Ordinal inscriptions, and a new experimental token standard known as “Bitcoin Request for Comment,” or BRC20, has garnered substantial attention in the past week. With 10,487 BRC20 tokens built using Ordinals and a swelling market capitalization exceeding $95 million, this new […]
A veteran of the crypto space thinks one layer-1 blockchain offers slept-on opportunities not seen elsewhere in the markets. Chris Burniske, a partner at the venture capital firm Placeholder, says that Solana’s (SOL) non-fungible token (NFT) ecosystem is unique in that the cost to mint NFTs is drastically lower than other chains. “People still sleeping on […]
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Romania’s Informatics Institute is set to launch an institutional NFT trading platform, using Web3 to create a link between the public and private sectors.
Romania’s National Institute for Research and Development in Informatics (ICI Bucharest) aims to drive Web3 adoption in the country with the launch of an in-house nonfungible token trading platform.
The institutional NFT platform, dubbed ICI D|Services, will go live on April 26 and aims to create a link between private and public sector institutions and users. The platform is primarily an NFT marketplace, allowing public and institutional users to mint, manage and trade NFTs.
Cointelegraph spoke to ICI Bucharest blockchain laboratory coordinator Dr. Paul Niculescu-Mizil Gheorghe to unpack the impetus behind the country’s efforts to adopt Web3-powered technologies.
ICI Bucharest has been primarily focused on research and development over the past five years, but shifted its attention to exploring blockchain, Web3 and nonfungible tokens as the space gains traction around the world.
Gheorghe says that NFTs have gained significant popularity in recent years due to their capability of creating unique and scarce digital assets that can be applied across numerous use cases. This in turn has made them valuable assets for institutions, which led to the proposal of the NFT platform within ICI Bucharest in late 2021.
The institution began developing and implementing the marketplace system’s architecture in partnership with MultiversX midway through 2022, which is first strategic project using the blockchain infrastructure provider.
The partnership also includes the development of a decentralized Domain Name System (DNS) and Top-Level Domain (TLD) ecosystem, as MultiversX CEO Beniamin Mincu explained in correspondence with Cointelegraph.
Gheorghe, who holds a PhD in Blockchain Technology and Industrial Engineering, says the project has been backed by the Romanian Government through the Secretariat–General as well as the Romanian Ministry of Research, Innovation and Digitalization:
“Our institute wants to create a bridge between the young generations and the public institutions values, initiating a comfort zone for the interactions with the digital space.”
The launch of the platform will feature five unique NFT collections developed in collaboration with a handful of prominent Romanian sportspeople, organizations and institutions.
This includes the Romanian Olympic and Sports Committee, 18-year-old 100-meter swimming freestyle world record holder David Popovici, Romanian news agency Agerpres, national philately organization Romfilatelia and Bucharest’s Central University Library.
Related: Fight between crypto and governments “just getting started,” says ShapeShift CEO
Gheorghe believes Romanian government support of innovative projects like ICI D|Services enhance the country’s economic potential by generating new revenue streams and fostering economic growth as well as a culture of innovation and entrepreneurship:
“Blockchain technology increases the efficiency of the institutions, to approach solid use cases based on digital asset management, transparency, security in various institutional operations, such as in education, health, transport, land registration, supply chain management.”
Mincu echoed these sentiments, highlighting the Romanian government’s commitment to embracing technology, fostering new opportunities for user interaction between citizens, businesses and institutions.
Magazine: 44 out of 10 NFT sales are fake: Learn to spot the signs of wash trading
