Bitcoin history was uncovered and it was almost an NFT
Sometimes the most notable thing in non-fungible tokens is not an NFT. A nugget of blockchain history was uncovered this weekend when internet experts uncovered the first documented financial transaction on the world’s first blockchain. In January 2010, a user named Sabunir decided to try Bitcoin, and as a test sold a digital photo for USD 1 in Bitcoin.
Was this the world’s first NFT sale? No, but it is a perfect example of the use of NFTs; preserve the origin and ownership history of literally anything digital (not just a jpeg).
This 500 BTC jpeg sale would be worth around $13.7 million today. Had the image been tokenized as an NFT, it would have gone down as the most significant NFT in history. If the image is restored in the future, it will have no value. But if it started as an NFT, the world would know exactly which copy was the original, and one lucky person would have generational wealth from it.
Over the past 30 days, Bitcoin Ordinals and BRC-20s have made the OG blockchain the second highest volume blockchain in the world. Bitcoin NFTs are just getting started, and in the long run I expect Bitcoin to compete head-to-head with Ethereum’s all-time sales. It can actually exceed them as well.
Mythos Chain is also making big numbers, as people start to take notice of the gaming blockchain and their impressive products. I’m a gamer and didn’t know until recently that they have the world’s largest secondary market for CS:GO skins with new hits NFL Rivals, Blanko’s Block Party and more on the horizon.
Fun fact: It is a gaming blockchain that is doing the third most NFT volume this week.
More than Solana, Polygon, Immutable and co.
The funny thing is that all the volume is in CSGO skin sales that are registered on the blockchain.
Unfortunately it’s not through web3 games (yet) pic.twitter.com/udDeU7clT9
— apix🎮 (@apixtwts) 13 May 2023
As of this writing, three of the top 10 collections in 24 hours are all gaming NFTs, and the biggest game makers like Square Enix, Ubisoft, Konomi, and Atari are just now starting to touch NFTs.
A lot happens outside the NFT markets. NFT communities and those who build them are gearing up for the second annual VeeCon conference this week, as Gary Vaynerchuck once again shows the world the pinnacle of Web3. Those who believe that NFTs can serve as admission tickets, art and collectibles all in one are in for a treat when what I’m calling the State of the NFTs kicks off at Lucas Oil Stadium on May 18th. CryptoSlam will be there shaking hands and filling our brains with all the latest happenings in NFTs. It’s going to be a special time and we hope to see some of you there!
I expect the markets to be slow while many are out of network, but we also know that degenerates are going to degenerate. Keep your eyes on cryptoslam.io, the Forkast 500 NFT index and our ETH, Solana, Polygon and Cardano composites to see how the market is affected as many in the area take a break from trading.
During the last seven days have Discard 500 NFT The index shows that the market is down around 2.5%. We can again attribute it to low volume and high transaction fees from crypto trading.