NFT Breakthroughs

Bitcoin NFTs overcome barriers, Animoca joins HK for innovation, and Improbable slam dunks into a MLB virtual ballpark.

Author

Leah Alger
July 06, 2023

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This Week's Low-Down:

  • 🚀 Bitcoins New Token Standard ‘BRC-69’ Overcomes Data Limitations

  • 🤝 Hong Kong and Animoca’s Co-Founder Unite for Web3 Development

  • 🏀 MLB Teams Up with Improbable to Debut a Virtual Ballpark

What's Happening Header

  • DeGods Fuels Next Moves with Cryptic Website and NFT Drops (NFT Lately)

  • Bored Ape Yacht Club Prices Crash to Two-Year Low, Down 88% From Peak (Decrypt)

  • Melania Trump’s NFT Collection Launch: A Comeback from Donald Trump’s NFT Misstep (NFT Lately)

  • Hollywood Legend Steve McQueen Honored as 'King of Cool' in New NFT Collection (CoinDesk)

  • Coffezilla Calls Out Logan Paul For Failing To Refund CryptoZoo Victims (Watcher.Guru)

  • Credit Suisse Turns Swiss Women Football Players into NFTs (NFT Lately)

  • Sodexo Drops NFTs With a Twist: They’re for Employees, Not the Public (Decrypt)

  • Vodafone Teams Up with Cardano for an NFT Collection Launch (NFT Lately)

  • ApeCoin DAO Votes In Two New Special Council Seats, Replacing Alexis Ohanian and Yat Siu (CoinDesk)

  • Candy Digital Confirms Layoffs, Reveals Merger With Palm NFT Studio (Decrypt)

  • Lacoste Expands Its NFT Ecosystem With New Rewards (CoinDesk)

  • Binance x Cristiano Ronaldo Returns with an Exclusive Second NFT Collection (Watcher.Guru)

Trending Collections on OpenSea:

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Bitcoins New Token Standard ‘BRC-69’ Overcomes Data Constraints

Bitcoin Ordinals unveil its new token standard ‘BRC-69’, surpassing expectations in the world of Bitcoin NFTs by overriding previous data barriers and minimizing transaction costs.

  • Thanks to the creation of the BRC-69, the previous 4-megabyte cap on Bitcoin Ordinals inscriptions has been eliminated.

  • ‘Recursive inscriptions’, enabled by BRC-69, usher in substantial efficiency gains.

  • The implementation of BRC-69 has led to a reduction of over 90% in inscription creation time and cost.

  • The new standard, BRC-69, optimizes the use of Bitcoin's finite blockspace.

  • Consequently, the advent of BRC-69 and Bitmaps represent key milestones in Bitcoin's history, enabling more flexible data storage and enhanced cryptocurrency capabilities.

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Hong Kong and Animoca’s Co-Founder Unite for Web3 Development

With a helping hand from Animoca Brands chairman Yat Siu, the Hong Kong government has established a Task Force to promote Web3 developments following a call for virtual asset innovation.

  • Financial Secretary Paul Chan chairs the Task Force, bringing 15 non-official members from relevant sectors and key government officials on board.

  • One notable member of the Task Force is Animoca Brand’s Sui, who confirmed his participation on Monday.

  • Sui believes in the transformative potential of blockchain technology, citing its security, transparency, cost-effectiveness, and ability to solve complex problems in various sectors.

  • Notably, the Government issued the Policy Statement on the Development of Virtual Assets (VAs) in Hong Kong in October 2022

  • Bringing the Web3 approach to life, officials then allocated $6.4 million to starting developing the country’s blockchain ecosystem in February.

  • The Task Force — necessary for achieving such goals — was then officially announced on July 1.

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MLB Teams Up with Improbable to Debut a Virtual Ballpark

Improbable is debuting a grand slam of innovation – the Major League Basketball (MLB) virtual ballpark. Fans can virtually huddle in one spot to cheer on their teams from July 8.

  • Improbable launches the first interactive MLB virtual ballpark, allowing fans to gather and interact in a single place.

  • The platform, developed within the M² network using Improbable's Morpheus technology, is designed to enhance fan-player connections.

  • MLB Executive VP, Kenny Gersh, foresees the virtual ballpark as a testing ground for innovative fan engagement strategies.

  • The inaugural event will be a live exhibition contest watch party on July 8th, kicking off multiple events in 2023.

  • Key features include natural voice chat, baseball-themed entertainment, cloud streaming accessibility, and interoperability within M²'s metaverses.

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Today's edition was written by Leah Alger.