#210 - Bitcoin NFTs on Binance

GM and welcome to Decentra Daily.

We're the web3 newsletter that’s HODLing everything forever.

Today,

1. Binance Marketplace supports BTC Ordinals

2. Sam Altman’s anti-AI crypto wallet is now available

3. Bittrex goes bankrupt & Grimes competes against herself

Plus, all the web3 headlines, memes, and Tweets of the day.

D-Daily takeaway 🥡
The BAYC floor is now at November 2021 levels…

What's this? 🤔
Our floor price index tracks the biggest, most influential pfp projects, art collections, and gaming assets.

Binance Marketplace supports Bitcoin NFTs

In the cold and lonely landscape that is the web3 bear market, one tiny orange beacon is shining bright.

The source? Ordinals – or Bitcoin NFTs, for the uninitiated.

Ordinals are non-fungible assets inscribed on Bitcoin’s smallest denomination, Satoshis. And there are currently over 5 million of them.

Ordinals began in firm degen territory, with plagiarized artwork and over-the-counter trades conducted on spreadsheets.

But the market has quickly evolved. Now, we have:

• Wallet support

• A Magic Eden marketplace

• A token standard for alt coins

• Collections from well-known studios like Yuga Labs and DeGods

This week, that evolution took another big step forward, when Binance also announced support for BTC ordinals

Yesterday, Binance said they're working to support non-fungibles on the Bitcoin network, which will be available on their NFT marketplace by the end of this month.

The big deets:

• From May 9 - 15, users can pre-register for promo Ordinals airdrops and allowlist spots

• Binance will offer royalty support for Ordinals creators

• Binance is “seeking collaboration with relevant NFT projects focused on Bitcoin Ordinals”

• Binance’s marketplace is already multi-chain, with BNB, Ethereum, and Polygon NFTs

The announcement comes amid crazy Ordinals activity. Saturday saw an ATH for new BTC NFTs and memecoins created, with +400K assets inscribed.

Great news for the hurting NFT community …not so much for Bitcoin purists, whose network is grinding to a halt under intense trading traffic.

Although – the clogged mempool and high transaction fees are more due to BRC-20 memecoin trading than BTC NFTs.

Regardless, many Bitcoin devs are angry at these new uses for the Bitcoin blockchain, which is why there’s currently an ongoing effort to cancel Ordinals altogether…

Notable Tweets ✅

On the web3 wire

SBF wants 10 of his 13 charges dismissed 👨🏻‍⚖️
A first look at SBF’s legal defense shows his lawyers want some charges dropped for breach of extradition processes, and others for being too ambiguous. Prosecutors have until May 29 to respond.

Twitter reclaims inactive usernames, sparking rumors 👤
Crypto Twitter is discussing the possibility of a Twitter username marketplace, as Elon orders the purging of accounts that haven’t logged in for more than 30 days.

Bittrex crypto exchange files for bankruptcy 💨
Founded in 2014, Bittrex US is shutting up shop after the SEC charged the exchange and its CEO with operating an unregistered exchange. The company says that Bttrex Global will continue.

The “fastest-growing wallet in the world”

OpenAI’s Sam Altman may have unleashed AI upon the world through ChatGPT…

But he’s also attempting to prevent a dystopian AI future, by making something called Worldcoin.

It’s an “identity protocol” on Ethereum designed to help people prove they are real, flesh-and-bone humans in tomorrow’s metaverse.

(Where it may not be possible to distinguish between bots and humans easily.)

Worldcoin calls itself “a toolkit to empower individuals in the Age of AI.”

The idea is to provide a single, secure ID for accessing and managing crypto, fiat, and other sensitive assets.

It’s built using some of the biggest web3 infrastructure products – including Uniswap, ENS, and MoonPay.

How does it work?

• “World IDs” are created using an eyeball scanner to create proof of personhood

• These scanners are called Orbs. They’re found at IRL locations

• Once scanned by an Orb, users can verify themselves online without having to enter personal details into websites and apps

• An SDK allows developers to integrate World ID into their products

The company has also made a minimalist wallet app, World App, which just launched in 80+ countries.

Verified users currently get their gas fees covered for free crypto transfers — and through the app, users should soon be able to claim a native token.

Thanks to its privacy-preserving features, World App is supposedly the “fastest-growing wallet in the world,” with an app sign-up every 14 seconds.

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Meme of the day

Biology of a memecoin trader:

Have a great day! 👋

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