📰 Table Of Contents
The NFT Market Overview
The non-fungible token (NFT) market has experienced a notable recovery in the past day. The sales volume has increased by 31% to reach $42,969,376. The number of buyers has decreased by less than 1%, while sellers have decreased by 15% and transactions by 8%. All the top 10 collections by sales volume have observed an increase in the last 24 hours, according to CryptoSlam. Pandora has retained the top spot with a volume of $14,706,818. The best performer among the top ten is PXNKAP3, with a remarkable 851% increase to $661,791. Following PXNKAP3 is CryptoPunks, which has experienced a rise of 268% to reach $1,151,943. On the blockchain front, Solana has been declining over the past day, currently occupying the 10th spot per daily sales volume at just $280,062. This is a significant drop from the 2nd spot and over $7 million in a matter of days, following a five-hour blockchain outage on February 6.
Innovations in NFT Space
In today’s NFT news, there is significant buzz in the crypto world regarding an experimental ‘token+NFT’ standard, as well as the successful sell-out of the Quantum Cats collection and the integration of X2Y2 Pro platform with the game-optimized Oasys.
Pandora’s ERC-404 Standard
The Pandora project launched a new, experimental token standard called ERC-404, which combines the popular ERC-20 and ERC-721. Created for creators and developers, ERC-404 aims to integrate ERC-20 and ERC-721 in a robust manner, allowing for native liquidity and fractionalization. The Pandora collection comprises 10,000 Replicants enabled by ERC-404, generative avatars attached to a PANDORA token. The project emphasizes that the standard is experimental and unaudited, although they have conducted some testing. Despite this, questions have arisen about the specifics and existence of ERC-404. Other collections have also begun experimenting with this new standard.
Quantum Cats Sell Out
The Taproot Wizards’ Bitcoin Ordinals NFT sale has concluded successfully, with the Quantum Cats collection selling out. Some cats may be available for “adoption” on the Magic Eden marketplace. The team refunded 19.3 BTC that were overpaid during the mint, with a total volume of 299.7843 BTC ($13.4 million) and 2,700 owners in total.
X2Y2 Pro Integrates with Oasys
The multi-chain NFT platform X2Y2 Pro has joined the ecosystem of the game-optimized blockchain Oasys. It has integrated into Oasys’ gaming-centric, EVM-compatible blockchain, particularly its Layer-2 Verses, including Geso Verse, DM2 Verse, and HOME Verse. This integration aims to bring numerous advantages to gamers and developers, providing enhanced capabilities for trading and lending in-game NFTs.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
