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Bitcoin Ordinals Will Play a Pivotal Role in 2024 + More NFT News

The NFT market day kicks off with a decline in sales volume, as it has seen a 10% decrease in the past 24 hours, now standing at $31,192,652, according to CryptoSlam.

NFT buyers have decreased by 9%, while sellers have reduced by 5%, and transactions have also dipped by 5%.

Among the top ten collections in terms of sales volume, AINN BRC-20 NFTs have shown the most significant increase over the past day, surging by 224% to reach $613,159, garnering attention in the NFT news circles. Uncategorized Ordinals follows closely with a 76% spike, reaching $1.83 million.

In contrast, LIGO BRC-20 NFTs have experienced the most substantial drop, falling by 45% to $565,295.

Froganas retains the top position by sales volume, despite a 13% decrease, with a total of $1.84 million.

In the realm of NFT news today, Bitcoin Ordinals is anticipated to play a “pivotal role” in 2024, OKX is set to integrate four new inscription standards, and the minting of NFT tickets for Consensus event begins today.

Bitcoin Ordinals Are Set for an Upward Trend

According to the ‘2024 Bitcoin Outlook’ report by OKX Ventures, the investment branch of the crypto exchange OKX, Bitcoin Ordinals is expected to play a pivotal role this year. This projection is based on the remarkable growth of OKX Wallet’s total Ordinals trading volume in 2023, as stated in the report. Throughout the year, this volume surpassed $1 billion, involving more than 120,322 unique addresses and recording a total of 552,818 transactions.

The press release further emphasizes that following the remarkable success of Bitcoin Ordinals trading volumes on OKX Wallet’s Ordinals Market, which achieved an impressive market share of 91.7% on November 21, 2023, the report anticipates an upward trend in the adoption of various asset issuance standards in 2024.

In 2023, Ordinals made significant strides and were seen as a groundbreaking advancement in asset issuance within the Bitcoin ecosystem.

The report highlighted that this groundbreaking development has been embraced with widespread adoption. As a result, it has paved the way for various asset issuance protocols, including BRC-20, RGB, Taproot Assets, Runes, Taro, Atomicals, TAP, PIPE, and more.

The report also provided growth statistics for these protocols:

– The cumulative number of BRC-20 transfers has surpassed 45.4 million, with cumulative transaction fees generated by BRC-20 reaching over 4,290 BTC.
– The cumulative inscription total has exceeded 53 million, and the cumulative transaction fees generated by Ordinals have gone beyond 5,383 BTC.

OKX Set to Integrate Four Inscription Standards

Regarding OKX, the exchange has announced its plans to incorporate four new token standards into its platform. According to the press release, Atomicals (ARC-20), Stamps (SRC-20), Runes, and Dogecoin’s Doginals (DRC-20) will be integrated into its Web3 Wallet in the upcoming weeks, with DRC-20 and ARC-20 being added to its Marketplace.

To provide more specifics, OKX Wallet will commence the integration of the Bitcoin token standard SRC-20 on February 5, enabling users to access and transfer these token standards.

Later in February, OKX Wallet will proceed with the integration of ARC-20, DRC-20, and Rune Alpha. Additionally, in late February, OKX Marketplace will incorporate the DRC-20 and ARC-20 standards, permitting users to buy and sell these tokens with zero fees.

Furthermore, support for Runes will be introduced after the Bitcoin halving event.

It’s worth noting that OKX Wallet’s token issuance tool currently supports the minting of tokens on 23 networks, including Bitcoin, Dogecoin, Ethereum, Polygon, BNB Chain, Avalanche-C, Arbitrum One, and others.

Consensus x Fahad Karim NFTs Offer 3-Year Pro Pass Ticket with Extra Perks

Microcosms, a captivating NFT collection comprising 1,000 pieces, created collaboratively by Consensus and the artist Fahad Karim, is officially launching today, taking the forefront in NFT news. This marks the series’ return for its second year.

As per the information available on the website, the minting event commences at 13:00 ET (18:00 UTC) on January 31, with each piece being priced at 1 ETH.

Remarkably, each piece of art serves as a ticket to the Consensus conference for a duration of three years. Additionally, it boasts a multi-tiered rewards system with an estimated value of up to $19,000, as stated on the website.

The Consensus Limited Edition Collectible is a comprehensive package of digital assets, which encompasses:

– A unique generative artwork created by Fahad Karim.
– An airdropped Pro Pass ticket for Consensus spanning the next three years, with a minimum value of $3,600.
– Exclusive on-site privileges and experiences at Consensus, offering added value ranging from $25 to an impressive $19,000, contingent upon the rarity.
– Holders have the option to utilize, gift, or trade randomized rewards.
– Access to exclusive community channels on the Consensus Telegram platform.
– Additional perks and advantages for partners and artists.

Furthermore, the image below includes details of the additional rewards slated for 2024.

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