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Pandora’s ERC-404 Standard Grabs Crypto World’s Attention + More NFT News

The non-fungible token (NFT) market has experienced a significant rebound in the past 24 hours.

Sales volume has surged by 31% to reach $42,969,376.

However, the number of buyers has decreased by less than 1%, while sellers have declined by 15%, and transactions have seen an 8% dip.

According to CryptoSlam, all of the top 10 collections by sales volume have witnessed an uptick in activity. Pandora retains its lead position, boasting a volume of $14,706,818.

Among the top 10 collections, PXNKAP3 stands out as the best performer, with an impressive 851% increase to $661,791. Following closely is CryptoPunks, with a rise of 268% to $1,151,943.

In terms of blockchains, Solana has continued to experience a decline over the past day. It now occupies the 10th position in terms of daily sales volume, amounting to just $280,062. This marks a significant drop from its previous standing at the 2nd spot with over $7 million, which occurred just days ago. This decline follows a five-hour blockchain outage on February 6.

In today’s NFT news: The cryptocurrency community is buzzing with excitement over news of an experimental ‘token+NFT’ standard. Additionally, the Quantum Cats collection has sold out, and the X2Y2 Pro platform has joined the game-optimized Oasys ecosystem.

Pandora’s Experimental ERC-404 Standard Grabs Attention

The Pandora project officially launched on February 2, unveiling a novel and experimental token standard called ERC-404.

This innovative standard merges the widely used ERC-20 token standard with the ERC-721 NFT standard. It is available as open-source for creators and developers to utilize.

According to the project’s GitHub repository, ERC-404 represents an experimental amalgamation of ERC-20 and ERC-721, incorporating native liquidity and fractionalization. The team behind the project emphasizes their efforts to seamlessly integrate these two standards while minimizing potential drawbacks.

Pandora, as a collection, consists of 10,000 Replicants, each empowered by the ERC-404 standard. These Replicants are generative avatars, each associated with a PANDORA token.

Presently, there are 5,318 Replicants listed on the OpenSea marketplace, with prices ranging from 11 ETH to 100 ETH.

Regarding the token itself, PANDORA stands as the first token constructed on the ERC-404 standard. Its current price is $24,626, marking a significant 135% increase in the past 24 hours.

Pandora underscores that the ERC-404 standard is entirely experimental and unaudited, despite undergoing some initial testing. The team has disclosed that an independent audit is currently underway.

Despite ongoing developments, there remains a degree of uncertainty among individuals regarding the specifics of the project, with some even questioning the legitimacy of ERC-404’s existence.

Meanwhile, other collections have begun exploring the possibilities presented by the new standard.

Additionally, the Pandora team has announced a partnership with Vector Reserve.

Quantum Cats Sell Out, Some Available for Adoption

In recent NFT developments, the highly anticipated sale of Taproot Wizards’ Bitcoin Ordinals NFTs has concluded smoothly.

According to an announcement on February 6, the team successfully distributed pieces from the Quantum Cats collection to various wallets. Additionally, it was noted that select cats may be available for “adoption” on the Magic Eden marketplace.

Moreover, the team has refunded 19.3 BTC to users who overpaid during the minting process. These refunds cover instances where funds exceeded users’ whitelist allocations or went beyond the 3,000 cats available in the public phase.

The whitelist mint for Quantum Cats commenced on February 5, resulting in the minting of 2,687 cats.

By February 6, the team declared that all Quantum Cats had been sold out, with the remaining 313 cats snapped up within a mere 2 seconds of the public mint.

As of now, the total volume for Quantum Cats stands at 299.7843 BTC ($13.4 million). The floor price is set at 0.299 BTC, while the highest-priced pieces are listed at 69.69 BTC each. In total, there are 2,700 owners of Quantum Cats.

X2Y2 Pro Integrates with Oasys

The multi-chain NFT platform X2Y2 Pro has recently become a part of the game-optimized blockchain ecosystem of Oasys.

As per the announcement, X2Y2 Pro will be seamlessly integrated into Oasys’ gaming-centric blockchain, particularly focusing on its Layer-2 Verses:

– Geso Verse, operated by the Japanese tech giant GMO Group under “Gesoten by GMO”.
– DM2 Verse, which boasts a user base of 41 million members, developed by DM2C Studio, a specialized Web3 venture of com Group.
– HOME Verse, a user-friendly blockchain operated by double tokyo Inc, which has unveiled a diverse lineup of nine game titles.

The announcement elaborated that Oasys’ Verse layers function akin to blockchain layers, offering versatile platforms for game developers to build upon.

Moreover, X2Y2 Pro is set to be integrated into Oasys’ Layer-1 Hub-Layer, described as an EVM sidechain tailored for gaming.

The integration into the Verses is anticipated to deliver numerous advantages for both gamers and developers, as highlighted by the teams. Gamers will enjoy enhanced capabilities to trade and lend in-game NFTs, while developers can harness X2Y2 Pro to craft more immersive and dynamic economies.

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