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

Share This Post

Sead Fadilpašić

Last updated:

| 3 min read

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

Source: Dalle-3

The non-fungible token (NFT) market has seen a significant recovery over the past day.

The sales volume is up 31% to $42,969,376.

Meanwhile, buyers are down less than 1%, sellers 15% and transactions 8%.

All top 10 collections by sales volume have seen an increase in the last 24 hours, per CryptoSlam.

Pandora kept the first spot, with a volume of $14,706,818.

The best performer among the ten is PXNKAP3, with 851% to $661,791. CryptoPunks follow it with a rise of 268% to $1,151,943.

When it comes to blockchains, Solana has kept falling over the past day. It currently sits at the 10th spot per daily sales volume at just $280,062. This is down from the 2nd spot and over $7 million in a matter of days. It follows a five-hour blockchain outage on February 6.

Source: cryptoslam.io

In today’s NFT news: the crypto world is abuzz with news of an experimental ‘token+NFT’ standard, the Quantum Cats collation sells out, and X2Y2 Pro platform joins the game-optimized Oasys.

Pandora’s Experimental ERC-404 Standard Grabs Attention

The Pandora project went live on February 2. It launched a new, experimental token standard named ERC-404.

The new standard combines the popular ERC-20 (token standard) and ERC-720 (NFT standard). It is open-sourced for creators and developers.

Per GitHub, ERC-404 is an experimental, mixed ERC20 / ERC721 implementation with native liquidity and fractionalization. “While these two standards are not designed to be mixed, this implementation strives to do so in as robust a manner as possible while minimizing tradeoffs,” the team said.

As a collection, Pandora comprises 10,000 so-called Replicants enabled by ERC-404. Replicants are generative avatars. Each is attached to a PANDORA token.

There are 5,318 Replicants on the OpenSea marketplace. The lowest price is currently 11 ETH, and the highest is 100 ETH.

As for the token, the team said that PANDORA is the first token built on the ERC-404 standard. The price of PANDORA is currently $24,626, up 135.% over the past 24 hours.

Source: coingecko.com

Pandora stresses that the standard is “entirely experimental and unaudited,” though they completed some testing. It later stated that an independent audit is underway.

All that said, many people still have questions about the project’s specifics, while some question the very existence of ERC-404.

Meanwhile, other collections have also started experimenting with the new standard.

The team also announced a partnership with Vector Reserve.

Quantum Cats Sell Out, Some Available for Adoption

In other NFT news, the anticipated Taproot Wizards’ Bitcoin Ordinals NFT sale has finished without a hitch.

The team distributed Quantum Cats collection pieces to wallets, it said on February 6. It added that some cats may be available for “adoption” on the Magic Eden marketplace.

Furthermore, they refunded 19.3 BTC that were overpaid during the mint. These are the funds that were sent beyond users’ whitelist allocations or beyond 3,000 cats in the public phase.

Quantum Cats whitelist mint went live on February 5. At that point, 2,687 cats were minted.

On February 6, the team announced that the Quantum Cats had sold out, stating that the remaining 313 cats sold out within just 2 seconds of the public mint.

Currently, Quantum Cats total volume is 299.7843 BTC ($13.4 million). The floor price is 0.299 BTC, while the most expensive pieces cost is 69.69 BTC each. There are 2,700 owners in totalidade.

X2Y2 Pro Integrates with Oasys

The multi-chain NFT platform X2Y2 Pro has joined the ecosystem of the game-optimized blockchain Oasys.

According to the announcement, X2Y2 Pro will now be integrated into the gaming-centric, EVM-compatible blockchain, particularly its Layer-2 Verses:

  • Geso Verse, operated by Japanese tech giant GMO Group under “Gesoten by GMO”;
  • DM2 Verse, which taps into a user base of 41 million members, as its developer DM2C Studio is a specialized Web3 venture of com Group;
  • HOME Verse, a user-friendly blockchain operated by double tokyo Inc, which announced a diverse lineup of nine game titles.

The announcement explained that Oasys’ Verse layers are similar to blockchain layers, #offering game developers versatile platforms for building.”

Furthermore, X2Y2 Pro will soon be integrated into Oasys’ Layer-1 Hub-Layer, described as an EVM sidechain for gaming.

The integration into the Verses will bring “numerous advantages” to gamers and developers, the teams said. The former gain enhanced capabilities to trade and lend in-game NFTs. The latter can leverage X2Y2 Pro to create more engaging and dynamic economies.

Related Posts

Binance US onboards ex-New York compliance chief

Crypto exchange Binance.US named Martin Grant, a former...

Avalanche (AVAX) Pumps 10% as New P2E Token ICO Raises $2m

Avalanche (AVAX) is in the spotlight today after...

Will Ripple vs. SEC settle soon? XRP price under pressure

In today’s pivotal meeting between Ripple and...

‘We Sold Everything Last Night’, Reveals Crypto Research Firm

Markus Thielen of 10x Research unveiled a significant...

US Treasury ‘Bending Old Laws Past Their Breaking Point’ in Tornado Cash Case: Coinbase

Paul Grewal, Coinbase's chief permitido officer, said Monday...