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Post: A New Token Standard, “Divisible NFT,” to Rival ERC-404 in the NFT Space

A New Token Standard, “Divisible NFT,” to Rival ERC-404 in the NFT Space

Key Points:

  • A new token standard called “Divisible NFT” aims to rival ERC-404, another hybrid token standard that blends fungible and nonfungible tokens.
  • The “Divisible NFT” standard includes fractionalization, allowing holders to trade fractionalized portions of their NFTs.
  • Developer “Cygaar” claims that “Divisible NFT” is more efficient and does not break under certain edge cases compared to ERC-404.

Insight:

A week after the launch of ERC-404, a new token standard called “Divisible NFT” has emerged to rival it. The “Divisible NFT” standard offers fractionalization, which allows NFT holders to trade fractionalized portions of their tokens. According to the developer behind “Divisible NFT,” the new standard is more efficient and does not break under certain edge cases, unlike ERC-404. This competition highlights the ongoing innovation and development happening in the NFT space.

Key Points:

  • Stephen Chow’s nonfungible token (NFT) collection recorded $23 million in trading volume.
  • The Hong Kong celebrity collaborated with Asia’s largest NFT marketplace, OpenSea, to release his collection.
  • The collection includes digital artwork, audio clips, and video clips featuring Stephen Chow.

Insight:

Hong Kong celebrity Stephen Chow’s NFT collection has seen impressive success, with $23 million in trading volume. Chow collaborated with OpenSea, Asia’s largest NFT marketplace, to release his collection. The collection features digital artwork, audio clips, and video clips that showcase Stephen Chow. This highlights the growing popularity and market demand for celebrity-backed NFTs, as collectors and fans are willing to invest significant amounts in these digital assets.

Key Points:

  • A whisky distributor is using NFTs and artificial intelligence (AI) to sell a rare 50-year-old whisky collection.
  • The NFTs serve as digital certificates of ownership for each bottle in the collection.
  • The AI technology analyzes data on rare whisky to determine the value of each bottle.

Insight:

A whisky distributor is leveraging NFTs and artificial intelligence (AI) to sell a rare collection of 50-year-old whisky. Each bottle in the collection is represented by a unique NFT, serving as a digital certificate of ownership. The AI technology used by the distributor analyzes data on rare whisky to determine the value of each bottle. This innovative approach to selling and authenticating rare whisky showcases the diverse applications of NFTs beyond the art world and highlights the potential for blockchain technology in the collectibles market.

Key Points:

  • The introduction of “Ordinals” could boost Bitcoin miners after the halving.
  • “Ordinals” are a proposed way to give additional rewards to Bitcoin miners who have been in operation for a long time.
  • These additional rewards would help offset the reduced block rewards that occur after the Bitcoin halving.

Insight:

“Ordinals” have been proposed as a way to provide additional rewards to Bitcoin miners who have been in operation for a longer duration. This proposal aims to address the reduced block rewards that occur after the Bitcoin halving, which reduces the amount of new Bitcoin issued to miners. By incentivizing long-term miners with additional rewards, it may help sustain and support the mining ecosystem even after the halving event. This highlights ongoing efforts to optimize and improve the incentives and economics of the Bitcoin network.

Hot Take:

The emergence of rival token standards, such as “Divisible NFT,” showcases the dynamic and competitive nature of the NFT space. As more developers and projects enter the NFT market, we can expect to see further innovation and improvements in token standards. This competition benefits users and collectors by pushing for more efficient and flexible NFT solutions.

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