Crypto has come a long way since Bitcoin first hit the scene, having developed immensely into the market that we see today. And even with all of this evolution, even as the market becomes more oversaturated and volatile, Bitcoin has endured and held its position at the top.
Concurrent with the crypto boom from recent years was the NFT fad. NFTs, an abbreviation of Non-Fungible Tokens, are digital items that cannot be copied or multiplied, meaning that each NFT is virtually one of a kind. Ownership of each NFT is recorded within the blockchain which allows the ownership to be transferred to another should the current owner wish to.
This is where the business model for NFTs arose, with creators trading and selling their own NFTs. While they’ve been around for nearly a decade; they were new territory for the majority of people when they began to trend. They had high profitability and everyone who was anyone rushed to release their own set of NFTs to sell, which lead to the industry surrounding NFTs becoming controversial to some.
With the launch of the Ordinal protocol, conversations about the trustability of NFTs and if they are even necessary for Bitcoin to have cropped up. While Bitcoin has been igniting headlines at the top of the market, a presale crypto named Big Eyes Coin (BIG); which will also be releasing its own set of NFTs down the line, has raised over $20 million and proved itself to be the biggest presale we have seen in recent years.
Bitcoin and the Blockchain
Despite the impression this news has made, NFTs using Bitcoin’s blockchain have existed almost since the inception of NFTs. Ordinal specifically stores text, images and HTML on-chain and much like most NFTs, can be purchased and gifted. Not all of the community is excited about the launch, some question why it is necessary and believe block space should only be used for bitcoin’s main purpose; P2P e-commerce.
Despite the reaction of some, there are positives to the launch. The usage of the block space will allow for the long-term sustainability of the network. The price of NFTs through Ordinal is also noticeably cheap, a pro when it comes to the complaints of the increasingly high price of NFTs. Bitcoin has been in an interesting position lately in that it remains at the top of the market and yet has been on a downward trend. The introduction of this could bring new interest in the development of Bitcoin and result in new bullish mindsets.
Biggest Eyes in Crypto
On the other hand, Big Eyes should already have all its buyers in a bullish mindset. Like other meme coins before it, Big Eyes plans to release its own NFT collection at some point once once its NFT Sushi Crew launches. If they are anything like the visuals of its cute cat mascot that are all over the official website and social media, they’ll be fun collectables that the community will enjoy. There’s no noticeable division within the community behind Big eyes, raising over $20.5 million in presale alone which has allowed it to become the biggest presale Crypto has seen in 2 years.
With the trust the community has in the project, it’s definitely a sign that they will support its future NFTs, showing that despite some of the controversial ideas some have about NFTs; there is still a great deal of goodwill surrounding them. For all meme coin and NFT enthusiasts, Big Eyes is still offering a 200% bonus on purchases for the next 48 hours when the code LAUNCHBIGEYES200 is applied.
Big Eyes Coin (BIG)