With the inscription wave rising, why does the multi-chain aggregation platform OKX NFT market stand out?
Written by: Wendy
Inscription exploded, and Bitcoin expanded from a peer-to-peer electronic cash system to the most valuable NFT infrastructure.
Most of the early NFT projects that tried to be built on the Bitcoin network ended in failure due to being tied up in basic doctrines and the settings of the peer-to-peer electronic cash system. Fortunately, Ethereum perfectly took over the NFT narrative, started the grand NFT Summer wave, and further catalyzed it. The integration of Web3 and the real economy is accelerating. But the first NFT wave eventually came to an abrupt end with the advent of the bear market, and fell into a long period of silence. Times have changed, bulls and bears have alternated, the NFT market has entered a recovery channel, and the positioning of Bitcoin NFT and Ethereum NFT has also ushered in a two-level reversal.
After the Bitcoin Taproot upgrade and Segwit expansion, more data can be stored on the chain. Ordinals were created by Casey Rodarmor. By numbering the Satoshi, the smallest unit of Bitcoin, and writing text, pictures, videos and other data, NFT assets The minting, transfer and destruction can be completed in the SATS transaction, and the inscription narrative officially opens the curtain of the bull market. Compared with Ethereum NFT, Bitcoin NFT is stored directly on the chain, and the distribution mechanism is fair, decentralized andSafetymore secure and empowered with the higher value brought by the Bitcoin network. However, the Bitcoin network does not have the Turing-complete intelligence of Ethereumcontractfunction, so Bitcoin NFT does not support complex custom settings and has limited storage space. But in any case, the Bitcoin ecosystem has completed its development and is moving towards NFT infrastructure. During the hot period, the 24-hour trading volume of BTC NFT once exceeded the trading volume of Ethereum ETH.
With the innovation of Bitcoin NFT and inscription narrative, the NFT market landscape is also changing with each passing day. The OKX NFT market was the first to respond to user needs and launched the OKX Ordinals market, quickly occupying the market. According to Dune data, on January 30, OKX Ordinals market share reached 89.3%, and the total transaction volume exceeded US$1 billion, becoming the industry's largest BRC20 inscription and BTC NFT trading market. In addition, the OKX NFT market will also integrate standards such as DRC-20 and ARC-20 by the end of February, continuing to lead the construction of Bitcoin inscription ecological infrastructure. Not only that, in addition to Bitcoin inscriptions, the OKX NFT market has also supported Aptos and Solana ecological inscriptions, which are accelerating their rise in the NFT market.
Since the inscription narrative, NFT users’ attention has shifted from Ethereum to Bitcoin
Blue-chip projects such as BAYC, Azuki, and CryptoPunks, which once dominated the NFT market, failed to carry their excessive value for a long time, and eventually returned to the mean in the bear market washout. The typical NFT narratives such as PFP, art, or rights advocated by it have become old talk. At the same time, the NFT market's "one super, many strong" pattern has also quietly changed. Some leading NFT platforms stick to the old rules, and some emerging NFT platforms have suddenly emerged, each seeking change in the turbulent market changes.
In 2023, the Bitcoin inscription narrative detonated the market. NFT users' attention shifted from Ethereum to Bitcoin, and market capital flows became active. The single-day trading volume of Bitcoin Frogs, the leading Bitcoin NFT project, surpassed the Ethereum NFT leader BAYC many times, and inCommunitySparking a bottom-up movement to “redefine equity.” However, Bitcoin's backward infrastructure cannot make up for the gap in user demand. As a platform with technology accumulation and innovation drive, OKX NFT was the first to launch the Ordinals market, responded to user needs immediately, and achieved exponential user growth. According to Dune data, as of January 30, its Ordinals market had 138,704 users, accounting for 89.3% of the market, and its total transaction volume exceeded US$1 billion, ranking first in the industry.
The OKX Ordinals market is completely decentralized, free of platform service fees for interaction, and supports multiple functions such as one-stop transfer, transaction, and engraving of BRC-20 and BTC NFT. It has also launched a powerful inscription tool that supports batch engraving of users' single signatures. , BTC network engraving can engrave 1,200 transactions at a time, and EVM network engraving can automatically engrave 50 transactions at a time. Users can choose text mode or hexadecimal mode, engrave single text or batches of multiple texts on 23 public chains of BTC and mainstream EVM, and automatically send user transactions. It can be used for free without importing private keys. What’s more,SafetyConvenient. In addition to batch engraving, the OKX Ordinals market also supports users' batch purchase and batch transfer functions. BRC-20 inscriptions and BTC NFT can be purchased at the same time, and a single transaction purchase supports up to 10 orders, saying goodbye to cumbersome steps and improving transaction efficiency.
Bitcoin NFT casting fees are related to data size and casting speed. In order to solve the two major problems of "expensive" and "blocked" users' interactions on the Bitcoin chain, the OKX Ordinals market also further reduces user GAS by optimizing the UTXO spending sequence, and in During the user's order placement and purchase processes, we use methods such as encrypting PSBT signatures, disabling RBF transactions, and server-side broadcasting to prevent users from being blocked by malicious orders with low GAS. In terms of UTXO management, the OKX Ordinals market supports the function of preventing valid UTXO spending and intelligently canceling invalid UTXO. The platform can automatically identify worthless NFTs, as well as invalid BRC-20 and BRC20-S inscriptions, helping users to cancel their occupation with one click.
Except constantlyXiaobai NavigationIn addition to meeting the growing user needs, the OKX Ordinals market also continues to empower industry construction through open source, API upgrades and other initiatives. The API function now allows users to place orders faster through the API, and enjoy better depth and liquidity with zero handling fees. The comprehensive open source OKX ORD Indexer of the OKX Ordinals market not only supports Ordinals protocol analysis and transaction events, inscription data, UTXO status query, but also supports BRC20 protocol analysis and transaction events, balance, ticker query and bitmap protocol analysis, thereby continuing to build Bitcoin. ecology.
The explosion of Bitcoin inscription narratives has promoted the prosperity of the inscription ecology of major public chains. In order to more comprehensively support the development of industry inscriptions, the OKX NFT market has gradually supported recursive inscriptions, cursed inscriptions, BRC-420 standards, Solana inscriptions, and Aptos inscription transactions. Will integrate ARC-20, SRC-20, Runes and DRC-20 inscriptionsTokenstandards, becoming the first and most leading one-stop inscription ecological platform in the Web3 industry. It is obvious that behind the steady advancement of these diversification initiatives, millions of users can conduct zero-fee transactions within the ever-expanding world of inscription standards, and help OKX NFT reach the top of the industry's largest inscription market. The decline of the old narrative of NFT has given rise to the rise of new platforms. The NFT pattern of "one super, many powers" under Opensea's rule has been gradually disintegrated. Multiple new forces have opened an era of diversified development. New battles are inscribed, and the brave prevail.
Three core driving forces, OKX NFT market is gaining momentum
The OKX NFT market covers a separate NFT sector, an Ordinals market, and a Drops sector. The reason why it can quickly stand out in the fierce competition of Inscription is mainly due to its long-term accumulation of ingenious products. Dappradar data shows that the 24-hour trading volume of the OKX NFT market has topped the industry many times, and even achieved growth against the trend in the bear market. Through in-depth experience of the OKX NFT market andCommunityIt is not difficult to find out from the survey: solid infrastructure construction, rich and diverse functions, and product innovation have become the three core driving forces for its rise.
In terms of infrastructure construction, the OKX NFT market has a two-pronged approach. On the one hand, it simplifies the tedious cross-chain transactions of users by accessing EVM networks such as Ethereum, zkSync, Polygon, Arbitrum and other heterogeneous chains, as well as multi-chain strategies such as Solana, Aptos, Sui, and Starknet. Operation; on the other hand, it continuously aggregates orders from multiple platforms such as Tensor, OpenSea, Magic Eden, LooksRare, IMX Official, Element, and Blur to provide users with the best quotes and best liquidity. Up to now, the OKX NFT market has integrated 20+ public chains and 30+ NFT platforms. As its integration scale continues to grow, the number of users has shown an upward trend, especially in new chain ecosystems such as Aptos and zkSync, which play an important role.
Based on the best depth and smooth cross-chain experience, the OKX NFT market also supports multi-dimensional intelligent user interaction strategies, multi-dimensionalSafetyStrategies, API standards, ecological construction, etc. to further enhance user experience. For example, the launch of the multi-dimensional intelligent user interaction strategy function allows users to place multiple orders at the same time on the OKX NFT market or Opensea, etc., with only one authorization signature, and intelligent selection according to user needs at the time of purchase.contractCalling method to minimize user operation process and Gas consumption. multi-dimensionSafetyWith the strategy function, you can perform multiple tests when collecting NFT projects, and automatically identify Pixiu disks and fake airdrops.TokenWait, and block processing to help users avoid gas and capital losses. In addition, the OKX NFT API now supports full chain collection and product pulling, full chain order and order transaction instruction pulling. It can be used for free without a license application. It has been used by Element, Bybit Web3,AIcoin, and TG BOT etc. Through the construction of the API ecosystem, the OKX NFT market will work closely with more developers and high-quality project parties.
In terms of diversified functions, the OKX NFT market provides a wealth of functions in terms of NFT object search, data reference, transaction process and experience, helping users better screen and trade among massive NFT objects. The search function of OKX NFT secondary market supports collection, product, user address dimensions, and provides filtering functions such as authentication or not, chain dimensions, etc., so that users can understand NFT targets in a more three-dimensional way. In addition, the OKX NFT market also allows users to make decisions more quickly and scientifically by displaying hot search collections, transaction rankings, price & trading volume, transaction scatter charts, pending order depth charts, position dispersion and other data visualization functions. In terms of the transaction process, it fully supports convenient basic functions such as batch placing orders, price changes of pending orders, collective bids, accepting bids, batch transfers, etc., and can pre-execution intercept user transactions to avoid on-chain capital losses, etc.
In terms of innovation, the OKX NFT market also supports batch creation and editing of user creation collections, etc., and has been launched AI 创作功能。通过批量创作功能，无论是普通用户、艺术家还是项目方，无需理解或者学会复杂晦涩的合约和技术，都可以一键上传 10K 图片作品，并生成自己的 NFT 合集和独立的 NFT 合约。另外，用户通过 AI To create works of art or upload existing works of art, in addition to generating works of art through text descriptions and uploading pictures, dozens of new artistic styles have been added, and creators can choose freely, which greatly improves the quality of creation and experience.
In addition to the NFT sector and Ordinals market highlighted above, the OKX NFT market also has a very eye-catching Drops sector. The Drops section is the exclusive first-level distribution platform of the OKX NFT market, a completely decentralized and fair sale. By selecting popular and high-quality NFT assets, on the one hand, users can participate at a preferential price for the first time. In addition, we also cooperate with high-quality project parties from time to time, such as exclusive whitelist distribution with Nobody and TinFun, to help users better grasp revenue opportunities.
As a zero-fee multi-chain aggregation platform that integrates creation, collection, and transaction functions, the OKX NFT market has in-depth understanding of the real needs of users and polished products with ingenuity, focusing on infrastructure construction, diversified functions, and product innovation. We worked hard at the strategic level and eventually grew into one of the most comprehensive and advanced NFT markets in the industry.
Innovation continues, NFT opens up unlimited imagination
Influenced by the digital wave, the NFT market has also experienced unprecedented prosperity and innovation, gradually becoming the dominant force in global digital art, games and virtual asset transactions, and showing a rich appearance in many fields. Looking back at that time, the New York Christie's online auction artist Beeple's NFT digital artwork "Every Day: The First 5000 Days" sold for a sky-high price of US$69 million, and Yuga Labs' metaverse project Otherside triggered a 3-hour long GAS WAR, BTOK, and more. 1024ETH purchased the most expensive boring ape in history, BAYC # 7537, etc., constantly refreshing users’ awareness and pushing NFT to an epic climax.
But in the end, the NFT narrative cannot be sustained for a long time. All prosperity is lonely in the crypto winter. In the long mean return process of NFT value, users have been mixed with frustration and expectations for a long time. In 2024, with the explosion of the Bitcoin inscription narrative, the NFT market will pick up and the landscape will also undergo great changes. OKX NFT Market, a multi-chain aggregation platform that was the first to respond to user needs, finally stood out and won widespread support and trust with its excellent product experience and comprehensive advanced functions.
Bitcoin NFT has just started, and network narratives such as Aptos and Solana are also iterating rapidly. With the continuous upgrading and improvement of infrastructure represented by the OKX NFT market, the future market evolution is full of interest. Although it is impossible to predict the sustainability of the inscription wave, the innovation of NFT will go far beyond that, whether it is the previous exploration of various possibilities in digital art, gaming fields, asset copyright, on-chain identity, or combination with entities such as real estate, throughBlockchainThe non-tamperable feature ensures the transparency and security of transactions, and both promotes the development and boundaries of the encryption world. However, as technology continues to develop, the NFT market will continue to usher in more innovations and changes, becoming an indispensable part of the digital era.
For example, the NFT market can increase transaction speed and reduce costs by widely adopting Layer2 solutions, provide users with a richer social experience through NFTization of social media, and so on. Overall, with the balance of technological innovation, industry compliance and social acceptance going hand in hand, NFT will continue to play a key role in the crypto industry and, in the ever-changing environment, is expected to find new development paths for crypto assets. Bring more innovative experiences. As a user, you only need to keep exploring and experiencing, and you can see the future of NFT earlier.
The article comes from the Internet:With the inscription wave rising, why does the multi-chain aggregation platform OKX NFT market stand out?
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