‘Bitcoin Stamps’ NFTs Are Gaining On Ordinals

Bitcoin Stamps’ non-fungible tokens (NFTs) are quickly gaining popularity in the digital art world, overtaking ordinal NFTs. These unique tokens, developed on blockchain technology, provide a secure and transparent way to verify and trade digital assets. The increasing market demand for Bitcoin Stamps’ NFTs is a clear indication of the growing interest and adoption of cryptocurrency in the art space. Art collectors and enthusiasts alike are attracted to the high-quality digital art on offer, making Bitcoin Stamps’ NFTs a valuable addition to any art collection.

Bitcoin Stamps Brings a New Hope to NFTs on Blockchain

The NFT landscape on Bitcoin blockchain is now seeing the beginning of the rise of a new protocol, STAMPS. Unlike Ordinals, which saw a surge in early February and have been storing image data within Bitcoin blockchain, STAMPS propose storing image data directly within spendable transaction outputs.

By doing this, the data is preserved immutably and forever, eliminating the possibility of pruning by individual node runners. The STAMPS protocol’s creator is already in discussions with Emblem and Hiro Wallet to arrange protocol integrations, with the former allowing users to buy and sell Stamps on OpenSea.

Although storing data across all Bitcoin nodes comes at a cost, the limits of the canvas are ideal for pixel art, particularly as CryptoPunks uses a native resolution of 24×24 pixels. Stamps are semi-fungible and can be issued as one-of-one or one-of-many digital assets.

Over 8,300 Stamps have been minted since their launch on March 7, compared to just under 500 Ordinals within the same timeframe. However, Ordinals growth continues, with over 910,000 inscriptions to date, according to Dune Analytics, with brands like Bored Ape Yacht Club and Bugatti already adopting the tech.

In conclusion, the STAMPS protocol provides a different approach to embedding image data into the Bitcoin blockchain, offering more benefits in terms of immutability and decentralization. With the rise of STAMPS and Ordinals, it’s clear that the market demand for NFTs on the Bitcoin blockchain is growing exponentially, and we can expect more to come in the future.

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