1. BITBILIHome
  2. Article

‘Space Pepes’ make waves as bitcoin’s most traded NFT collection

• 185 views

TL;DR Breakdown

  • Space Pepes is a multi-chain NFT initiative that will mint 100 unique NFTs on each of ten different blockchains. 
  • In a week, Space Pepes NFT initiative has generated approximately $7.4 million in transactions, surpassing well-known projects like the Bored Ape Yacht Club. 
  • Bitcoin NFTs generated roughly $167 million in trading volumes over the past thirty days, considerably less than Ethereum’s close to $397 million.

Space Pepes NFTs are taking the crypto world by storm with an unprecedented $7.4 million in transactions on the Bitcoin blockchain. Space Pepes is a multi-chain NFT initiative that will mint 100 unique NFTs on each of ten different blockchains. Unexpectedly, the largest non-fungible token (NFT) collection in terms of weekly volume has turned out to be a Bitcoin-based enterprise.

Space Pepes Surpass Bored Ape Yacht Club

In just seven days, the Space Pepes NFT initiative has generated approximately $7.4 million in transactions, surpassing well-known projects like the Bored Ape Yacht Club. The change is especially impressive in light of the earlier dismissal of NFTs on Bitcoin including Space Pepes. The introduction of ordinals, a technique for inserting random data like text, audio, and video into the smallest units of Bitcoin, known as Satoshis, has completely changed the environment.

Successful NFTs have historically preferred Ethereum as their blockchain of choice, with initiatives on other blockchains receiving far less attention. Nevertheless, Ethereum’s hegemony may soon be challenged if Ordinals’ surge continues. Since Bitcoin has been around for a while and has a higher market value, NFTs engraved on its blockchain might acquire significant cultural importance.

According to an earlier analysis from CryptoSlam, the Bitcoin blockchain recorded the second-highest NFT volume in the prior week, amounting to $35.8 million. The emergence of Bitcoin as a dominant player in this space as the NFT environment continues to change portends a potentially seismic upheaval in the blockchain ecosystem. The surge has been supported by Bitcoin Ordinals especially Space Pepes.

The newest enticement for digital art enthusiasts in the Web3 realm was pixelated images of “Pepe the Frog” comics flying through space.

image 975‘Space Pepes’ make waves as bitcoin’s most traded NFT collection

These Space Pepes cost a little under $100 each, and data indicates that May 19 saw the highest trading volume. Since then, volumes have slowly decreased.

The fact that these weekly figures exceeded those of the well-known Ethereum-based collection Bored Apes Yacht Club (BAYC) shows an increasing pattern of Bitcoin-based artwork outperforming its contemporaries on other networks, such as Solana and Polygon, which were more known to collectors.

The combined volume of BAYC and Mutant Ape Yacht Club (MAYC), another collection from the same artists, was $9 million. Gods Unchained, an ImmutableX-based game, saw $4 million in volume, while the contentious Milady collection saw $3 million worth of trading.

As a result, Bitcoin NFTs generated roughly $167 million in trading volumes over the past thirty days, considerably less than Ethereum’s close to $397 million. However, according to Cryptoslam, NFT sales on the Bitcoin network are around $57 million behind, nearly tripling those on the Solana network.

Pepe Space: a unique social network for fans and memers

A popular online meme, “Boy’s Club” by Matt Furie, included the animated figure Pepe the Frog. In the middle of the 2000s, Matt Furie published comics from his “Boy’s Club” series on MySpace, which helped Pepe the Frog become initially well-known online. After making its debut on MySpace, the character quickly gained popularity and was used as a meme on other social networking sites and online discussion forums.

Pepe Space is a distinct and dynamic social networking website created for fans. At PEACE, the ability of memes to foster camaraderie among individuals. Users can post their favorite Pepe memes on their site, express their creativity, and learn more about the constantly changing meme culture in a friendly environment.

Elon Musk launches Milady NFTs soaring

As reported by Cryptopolitan, Elon Musk, the CEO of Tesla and Twitter, tweeted, “There is no meme I love you,” along with an image from the well-known Web3 NFT project Milady Maker.

image 976‘Space Pepes’ make waves as bitcoin’s most traded NFT collection

Musk’s support caused the collection’s floor price to increase immediately by roughly 90% to 7.35 ETH. But now that the initial euphoria has died down, the floor price is roughly 4.4 ETH.

A number of imitation ERC-20 tokens that are unrelated to the original NFT project also emerged as a result of it. One such instance is the LADYS token, whose price increased by 3,00% in response to Musk’s post.

10,000 generated profile photo NFTs make up the collection known as Milady Maker, whose author Charlotte Fang acknowledged posting abusive material under the alias Miya last year. Fang announced her retirement from the squad and apologized to the neighborhood.

Despite the earlier uproar, Milady Maker has been gaining popularity, drawing people who see taking part in the collection as a method to oppose the escalating international attack on the crypto industry.

Elon Musk has previously advocated for Web3 projects. He frequently tweeted about Dogecoin in the past, and most recently, he momentarily swapped out the Twitter logo with the Doge logo. These endorsements, however, have not been without repercussions since Musk is currently the target of a lawsuit demanding $258 billion in damages from him.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:‘Space Pepes’ make waves as bitcoin’s most traded NFT collection

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年5月29日 15:06
Next 2023年5月29日 16:51

Related articles

  • Hooked Protocol price analysis: Bulls make their presence felt as the price jumps to $1.469

    TL;DR Breakdown Hooked Protocol price analysis shows a bullish trend. Resistance for HOOK/USD is present at $1.507. Support is present for HOOK at $1.440. The recent Hooked Protocol price analysis indicates a bullish trend for the day, with the price experiencing a notable recovery. Bulls have made a strong comeback, raising the chances of further increase in cryptocurrency value. Although the price had dropped to a crucial level by May 31, 2023, today’s market trend has shifted in favor of the bulls. The value of HOOK/USD has shown a rise, reaching $1.469 following the bullish efforts observed today. However, caution is warranted as the price approaches the next resistance point, and the selling pressure could impede positive price movement. HOOK/USD 1-day price chart: The return of bullish efforts leads to a price rebound Based on the one-day Hooked Protocol price analysis, it is evident that the price is on an upward trajectory for the day, as the bulls have made a comeback on the price chart following yesterday’s correction. Despite experiencing a significant decline in the past week, the hook…

    Article 2023年6月8日

  • Curve Finance recovers all stolen funds from hacker

    TL;DR Breakdown Curve Finance recovered all $61 million stolen in a recent hack. Alchemix’s pool lost $13.6 million, JPEGd’s pool $11.4 million, and Metronome’s pool $1.6 million in the attack. The recovery followed a bold bug bounty offer: 10% reward for returning 90% of stolen funds. Within a day of the bounty, funds started returning, with full restitution by August 5. Description The dark clouds looming over the crypto landscape brightened a shade as Curve Finance, the well-known decentralized finance platform, has experienced a surprising twist. Only days after a crippling hack wiped out a staggering $61 million, every single digital coin was recovered. But before you pop the champagne, let’s delve into the sequence of events … Read more The dark clouds looming over the crypto landscape brightened a shade as Curve Finance, the well-known decentralized finance platform, has experienced a surprising twist. Only days after a crippling hack wiped out a staggering $61 million, every single digital coin was recovered. But before you pop the champagne, let’s delve into the sequence of events that led to this unexpected…

    Article 2023年8月7日

  • Goldman Sachs predicts the positive impact of AI on the United States economy

    TL;DR Breakdown Goldman Sachs has predicted that generative AI would have a positive impact on the economy of the United States. The report says AI will play a role in reshaping business and the economy. Description As the world hurtles toward an increasingly tech-driven future, the economists at renowned investment banking titan Goldman Sachs have unveiled a startling forecast. In an investment report released on August 1st, Goldman Sachs economists Joseph Briggs and Devesh Kodnani offered an intriguing projection, suggesting that by 2025, AI might attract a staggering $200 billion in … Read more As the world hurtles toward an increasingly tech-driven future, the economists at renowned investment banking titan Goldman Sachs have unveiled a startling forecast. In an investment report released on August 1st, Goldman Sachs economists Joseph Briggs and Devesh Kodnani offered an intriguing projection, suggesting that by 2025, AI might attract a staggering $200 billion in global investments, with a significant portion flowing into the United States, effectively amplifying the nation’s gross domestic product (GDP). Goldman Sachs predicts a $200 billion surge by 2025 While past technological…

    Article 2023年8月4日

  • US Congress grills BlackRock over China investments

    TL;DR Breakdown BlackRock faces accusations from the U.S. House of Representatives’ China committee for investments tied to the Chinese military and potential human rights abuses. The scrutiny is part of a broader governmental effort to counter China’s influence in sensitive technology sectors like microchips, quantum computing, and AI. The issue raises significant concerns about national security, ethical investment practices, and the need for transparency and vigilance in global investment strategies. Description BlackRock, the world’s largest asset manager, has found itself in the hot seat, facing pointed accusations from the U.S. House of Representatives’ China committee. Their charge? Profiting from investments that indirectly fund the Chinese military and might potentially undermine American values and security. An unsettling discovery has brought to light some unpalatable truths about where … Read more BlackRock, the world’s largest asset manager, has found itself in the hot seat, facing pointed accusations from the U.S. House of Representatives’ China committee. Their charge? Profiting from investments that indirectly fund the Chinese military and might potentially undermine American values and security. An unsettling discovery has brought to light some…

    Article 2023年8月2日

  • FBI and GCHQ issue joint advisory on Russian malware targeting crypto wallets

    TL;DR Breakdown A joint advisory from the FBI, NSA, CISA, and the UK’s NCSC has warned about a new malware called Infamous Chisel, linked to Russia’s GRU military intelligence agency, that targets cryptocurrency wallets and exchange apps on Android devices. The malware specifically seeks out directories related to popular crypto applications like Brave, Binance, Coinbase, and the Trust crypto wallet, as well as communication platforms Telegram and Discord. It also targets the Android Keystore system for storing private keys. Despite its low to medium sophistication and lack of stealth techniques, the malware poses a significant threat to digital assets, especially as it comes at a time when cybercriminals are increasingly targeting valuable digital assets, including cryptocurrencies. Description A joint advisory report from the Federal Bureau of Investigation (FBI), National Security Agency (NSA), Cybersecurity and Infrastructure Security Agency (CISA), and the UK’s National Cyber Security Centre (NCSC) has shed light on a new malware strain known as Infamous Chisel. This malware is specifically designed to target cryptocurrency wallets and exchange applications. The malware … Read more A joint advisory report from…

    Article 2023年9月2日
TOP