3 new NFT protocols worthy of attention: OLGA, DN404, WNS

24-03-20 14:25

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The NFT market has attracted everyone's attention recently. Basically, except for the battle between NodeMonkes and BAYC in the second and third place in the total market capitalization, and Runestone's rapid entry into the top 5 in total market capitalization, there is nothing that everyone knows. Attention. However, some small and medium-sized NFT innovations are still happening on various chains, which deserve our attention.

The editor has selected 3 new NFT protocols that are worthy of attention in the near future. They are "Bitcoin Stamps 2.0" OLGA on Bitcoin and ETH on "ERC404 improved version" DN404 and WNS launched by Meme Token $WEN on Solana.

OLGA

The full name of OLGA is "Octet Linked Graphics & Artifacts", which is The founder of Bitcoin NFT protocol Bitcoin Stamps @mikeinspace has proposed an improvement proposal for Bitcoin Stamps. Activated at Bitcoin block height 833000.

The proposal brings a way to store files in conjunction with Counterparty issuance transactions, by dividing the file data into chunks and then composing multiple P2WSH outputs. By using the OLGA method, the size of Bitcoin transactions is reduced from 3 times the original file size to 1.5 times, and only 11 satoshis are burned per byte, reducing minting costs by more than 50% compared to the original method. Because it effectively reduces the high cost of minting Bitcoin Stamps, OLGA’s improvement proposal is also called “Bitcoin Stamps 2.0” by some players.

At present, OLGA has not released a relatively high-quality asset. The only one worthy of a little attention is the SRC20 Token $OLGA with the same name.

In addition, Bitcoin Stamps protocol NFT The trading market stamped.ninja has also launched an OLGA NFT series "Tiny Ninjas" with a total volume of 2222. However, it has been open for casting for two days and has only sold out less than 10%.

DN404

The previous surge in ERC404’s “Pandora’s Box” should still be fresh in everyone’s memory. One of the most prominent problems with ERC404 is that the gas fee is too high and it does not follow the existing Ethereum standards. DN404 uses a "basic" ERC-20 contract and a "mirror" ERC-721 contract, making the protocol fully compliant with the existing Ethereum standard and highly efficient (low Gas).

DN404 is actually not a new protocol. It attracted attention in February. One is because of its strong development team, including the author of ERC-721A @optimizoor and ERC The authors of -5643@0xCygaar et al. The other is that because it strictly adheres to the existing Ethereum standard, it is most likely to become an official ERC standard. 2 weeks ago, the ERC addition request initiated by @optimizoor on Ethereum Github has entered the "Merged" state, and DN404 is taking a step towards becoming ERC-7631.

For DN404 that deserves attention The first project to bear the brunt is Asterix, which is run by @optimizoor himself. The current floor price is close to 1 ETH.

Asterix

In addition, DUNE404, the first DN404 project supported by Animoca, is also worthy of attention. This project is not yet available for sale.

WNS

WNS is launched by Solana Meme Token $WEN and is a lightweight NFT standard. The standard aims to minimize on-chain data to reduce costs for developers and NFT players. It also introduces a variety of "pointers" including "metadata pointers" to provide a lightweight means of combining on-chain data, as well as eliminate The issue of NFT trading platform’s control over royalty execution rights.

@assetdash launched the first A PFP series "Elements" based on the WNS standard. The current floor price of this series is 4 SOL. Elements has been gaining traction recently due to its ability to garner support from @arcade2earn, @PikeFinance and @DivvyBet The Token airdrops of three projects are related, and some players hope that it can become a new "shovel" on Solana NFT.