Nifty News: Bitcoin NFTs cause spicy fees, Mastercard exec tokenizes resignation letter and more

Bitcoin Ordinals causes fees to spike

The Bitcoin (BTC)-native Ordinals protocol is taking up record-breaking abstraction connected the blockchain and successful the process is hiking the transaction fees connected the network.

The divisive newly launched protocol allows for nonfungible token (NFT)-esque assets connected the Bitcoin mainnet by inscribing satoshis with content.

So far, inscriptions person included contented specified arsenic images, documents including a PDF record of the Bitcoin whitepaper and adjacent a afloat playable clone of the video crippled DOOM.

The 31.2 kilobyte DOOM clone (pictured) volition present everlastingly beryllium playable connected Bitcoin. Image: Ordinals

On Feb. 2, autarkic developer, Udi Wertheimer, tweeted helium had conducted the “largest transaction successful Bitcoin’s history” aft utilizing the Ordinals protocol to inscribe a 3.94-megabyte representation of a sunglass-wearing, bald, bearded wizard lauding “magic net JPEGs.”

— Udi Wertheimer (@udiWertheimer) February 2, 2023

The information size of these inscribed transactions are overmuch much than those typically conducted connected the blockchain and arsenic a effect person driven up the fees associated with processing them.

Typical Bitcoin transactions tin outgo a fewer cents to a fewer dollars, but Ordinals tin outgo tens of dollars successful comparison.

Figures from crypto-mining information supplier Hashrate Index show implicit the past 7 days fees arsenic a percent of the artifact reward are connected the emergence starting disconnected the week astatine astir 1% earlier jumping to a Feb. 1 play precocious of 6.74%.

Mastercard’s NFT pb quits connected atrocious terms, sells resignation missive arsenic NFT

The now-former NFT merchandise pb astatine payments elephantine Mastercard near the institution successful a spectacular fashion, publically slamming the steadfast for purportedly mistreating him and offering up his resignation missive arsenic an NFT.

In a Feb. 2 Twitter thread, Satvik Sethi claimed Mastercard chopped his wage by 40% erstwhile helium moved from New York City to London claiming helium “had to enactment broadside jobs this past twelvemonth to marque ends meet.”

— Satvik Sethi (@sxtvik) February 2, 2023

He claimed that astatine times helium would not person his wage “until I begged crossed the hierarchy for it.”

Sethi besides alleged helium was the unfortunate of harassment “caused by a bid of mismanaged processes, miscommunication [and] interior inefficiency.”

He asked his implicit 22,000 Twitter followers for their enactment by minting his resignation missive for 0.023 Ether (ETH), worthy astir $37.

“100% of this goes to survival,” Sethi added arsenic helium volition suffer his British enactment visa and would “be based successful India for the foreseeable future.” A aboriginal airdrop of creation for holders of the NFT was besides promised by Sethi.

At the clip of penning 53 NFTs of the letter, which Sethi titled “New Beginnings” had been minted.

Cointelegraph contacted Mastercard for remark regarding Sethi’s allegations but did not instantly person a response.

eBay eyes endowment for its acquired NFT marketplace

E-commerce subordinate eBay is looking to prosecute respective Web3-related roles for its United Kingdom-based NFT marketplace KnownOrigin which it acquired successful June 2022.

Job postings by eBay connected LinkedIn revealed its hiring for positions successful the U.K. and astatine its office successful California.

Among the roles are a Manchester-based Head of Community for KnownOrigin on with a Content Designer and Marketing Campaign Executive for the marketplace amongst different positions.

The steadfast is besides hiring 2 California-based positions for a Crypto Counsel. The occupation description says the relation volition spot a “creative crypto attorney” joining eBay’s ineligible squad to enactment its “business, product, compliance and exertion teams successful the Web3 space.”

OpenSea rolls retired suite of tools for NFT creators

NFT marketplace OpenSea released the adjacent bid of tools for its “Drops” diagnostic which is utilized to assistance creators motorboat NFT collections with OpenSea to payment from its reach.

In a Feb. 2 Twitter thread, OpenSea said it had worked intimately with 20 teams to “build a best-in-class drops experience.”

We’re excited to commencement rolling retired the adjacent signifier ofDrops connected OpenSeaa merchandise we’ve been moving connected for the past fewer months! https://t.co/rRydH289Vq ⬇️

— OpenSea (@opensea) February 2, 2023

The adjacent signifier of the rollout includes giving creators tools allowing them to behaviour multi-stage minting, astute declaration deployment crossed aggregate Ethereum Virtual Machine (EVM) chains and personalize web landing pages among different features.

The instrumentality volition beryllium “gradually opening up” to prime creators “over the coming weeks” according to OpenSea.

It volition besides adhd much features successful the coming weeks earlier it’s released to the nationalist astatine large.

OpenSea has experimented with its Drops diagnostic by creating personalized pages for prime collections, astir notably, 1 was created for the debut postulation by histrion Sir Anthony Hopkins which ended up selling retired successful nether 10 minutes.

Other Nifty News:

Japanese Prime Minister, Fumio Kishida, said determination are “various possibilities for utilizing Web3” successful the country, and the authorities may usage NFTs and decentralized autonomous organizations (DAOs) to beforehand its “Cool Japan” strategy aiming to amusement disconnected the nation's tech and culture.

Cointelegraph spoke with manufacture professionals connected however to forestall NFT thefts who advised users to instrumentality owed diligence, revoke unnecessary permissions and segregate NFTs into antithetic wallets among different measures.