Following ERC-404, Here Comes DN404 + More NFT News

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Sead Fadilpašić

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Following ERC-404, Here Comes DN404 + More NFT News

Source: Dalle‑3

Top NFT news today, Feb­ru­ary 13, 2024: Fol­low­ing ERC-404, a new divis­i­ble NFT for­mat called DN404 has launched, Mag­in Eden has announced its Ethereum mar­ket­place launch, and Dead­fel­laz launched 10,000 Bit­coin Ordinals.

NFT Market Data

The non-fun­gi­ble token (NFT) sales vol­ume cur­rent­ly stands at $36,917,776. It is up 0.19% over the past 24 hours.

In the same peri­od, buy­ers, sell­ers, and trans­ac­tions have gone up 5%, 1%, and 7%, respectively.

When it comes to the top 10 col­lec­tions by sales vol­ume over the past day, Pan­do­ra is still in first place with $6,560,152, despite a 16% drop.

Art Blocks increased the most in a day: 444% to $843,870. Mean­while, Doo­dles dropped the most: 47.47% to $855,826, accord­ing to Cryp­toSlam.

Today in NFT news: a team of devel­op­ers reveal a new, exper­i­men­tal blend of ERC-20 and ERC-721 stan­dards; Mag­ic Eden launch­es its Ethereum mar­ket­place in two weeks; and Dead­fel­laz cre­ators, DFZ Labs, launch 10,000 Bit­coin Ordinals.

Following ERC-404, Here Comes DN404

Fol­low­ing the recent launch of an unof­fi­cial Ethereum stan­dard ERC-404, a dif­fer­ent team of devel­op­ers announced the launch of the ‘Divis­i­ble NFT’ stan­dard (DN404).

Devel­op­er “cygaar” announced the launch of DN404, call­ing it “a hybrid ERC20/721 token.” Per GitHub, it is an imple­men­ta­tion of a co-joined ERC-20 and ERC-721 pair.

The team also includes vectorized.eth, quit, 0xjustadev.eth, michaelamadi.eth, and Pop Punk.

Pandora’s ERC-404 com­bines the pop­u­lar ERC-20 (token stan­dard) and ERC-720 (NFT stan­dard). “The premise of ERC404 was to cre­ate a sin­gle con­tract that can act as both a fun­gi­ble and non-fun­gi­ble token. How­ev­er, this can’t be done with­out intro­duc­ing exploits and break­ing stan­dards,” cygaar wrote.

The DN404 team’s approach is to have two con­tracts: a “base” ERC-20 with a “mir­ror” ERC-721.

Most trad­ing will be done on the base con­tract, cygaar explained. The base con­tract is a ful­ly com­pli­ant ERC-20 token. It tracks user bal­ances and han­dles the minting/burning of the mir­rored NFTs, said the devel­op­er, adding: “You can think of these tokens as frac­tions of the NFTs.”

These are com­pat­i­ble with decen­tral­ized exchanges (DEX­es).

Mean­while, the mir­ror con­tract acts as a stan­dard ERC-721 token. All its func­tions are ful­ly com­pli­ant and can be used with any pro­to­col that sup­ports ERC-721s.

Devel­op­er Quit fur­ther not­ed that DN404 has not been through the EIP process. There­fore, “we are not call­ing it a standard.”

More­over, Cygaar remind­ed read­ers that DN404 is not a project, and there are no tokens for sale. The team has just released open-source code for oth­er projects to build hybrid tokens.

The code has not been for­mal­ly audit­ed, and the team is not liable for any exploits.

Magic Eden Launches Ethereum Marketplace in Two Weeks

Pop­u­lar NFT mar­ket­place Mag­ic Eden will launch its Ethereum mar­ket­place on Feb­ru­ary 27.

The count­down has begun, it said.

Mag­ic Eden and Yuga Labs announced the Mag­ic Eden Ethereum Mar­ket­place in Novem­ber last year. The two com­pa­nies said that this would become the first major Ethereum mar­ket­place with a con­trac­tu­al oblig­a­tion to uphold cre­ator roy­al­ties.

The new mar­ket­place will be pow­ered by Pay­ment Proces­sor, a mar­ket­place pro­to­col devel­oped by Lim­it Break.

“Lim­it Break’s ded­i­ca­tion to push­ing the bound­aries of web3 tech­nol­o­gy has paved the way for us to col­lab­o­rate on safe­guard­ing cre­ator roy­al­ties and fos­ter­ing future inno­va­tion,” Mag­ic Eden said.

The team fur­ther announced that the first mint on the Ethereum launch­pad will be the Okay Dogs col­lec­tion in part­ner­ship with Okay.

Deadfellaz Creators Launch 10,000 Bitcoin Ordinals

In oth­er NFT news, DFZ Labs, the cre­ative stu­dio behind the Dead­fel­laz NFT col­lec­tion, is launch­ing its own Bit­coin Ordi­nals.

On Tues­day, Feb­ru­ary 13, the team launch­es its unique ordi­nals col­lec­tion on the Mag­ic Eden mar­ket­place. It is called Bits and com­pris­es 10,000 pix­el char­ac­ters inscribed by Ordi­nals Bot.

Per the press release shared with Cryp­tonews, what’s com­ing is “a new inde­pen­dent brand focused on “Bring­ing Indie Gam­ing to BTC.”

“Bits sets out to build a super­charged game devel­op­ment incu­ba­tor, uti­liz­ing a roguelite game world at its core to house curat­ed UGC con­tent, while reward­ing col­lec­tors and play­ers – in a way nev­er seen before,” the press release says.

Bits focus­es on a ‘Build to Win, Play to Enjoy’ mod­el, the team added. There­fore, the com­mu­ni­ty has the chance to con­tribute and earn rewards. Mean­while, the team will con­tin­ue cre­at­ing an expand­ing immer­sive game.

The game will be offered to a wider audi­ence via tra­di­tion­al plat­forms, includ­ing Steam and consoles.

The Bits found­ing team all come from with­in the Dead­fel­laz com­mu­ni­ty. They will run Bits as its own flag­ship BTC IP under the DFZ Labs ecosys­tem but as an inde­pen­dent brand.

Dead­fel­laz co-founders Bet­ty and Psych serve as men­tors and advi­sors. They will host a Twit­ter Spaces this Fri­day on the Bits and Dead­fel­laz accounts. Bits’ inscrib­ing part­ner Ordi­nals Bot and BTC wal­let Xverse will join the discussion.

Mean­while, DFZ Labs has allo­cat­ed 500 air-drops of Bits for top Dead­fel­laz col­lec­tors and com­mu­ni­ty contributors.

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