The Debate on Ordinals Heats Up: Latest Developments in the NFT Market Context
Former US President Donald Trump has been making profits in the NFT market, sparking discussions about Ordinals. In August, he added his iconic mugshot photo to his NFT collection and has since earned profits in the Ordinals market. His portfolio transferred 1,075 Ether (ETH) to Coinbase starting from December 8th. The revenue comes from his NFT collections, which include the famous mugshot photo. Data from blockchain intelligence platform Arkham shows that Trump’s wallet has moved 1,075 ETH, equivalent to about $2.4 million. Most of these withdrawals have been made in blocks of 100, 125, and 200 ETH.
Despite his previous criticisms of cryptocurrencies, Trump appears to be actively involved in the cryptocurrency market.
Heated Controversy Over Bitcoin Ordinals: The Details
Bitcoin Ordinals, launched in January, has generated a heated debate among supporters and critics regarding its impact on the Bitcoin network. Critics argue that Ordinals registrations are spam and represent a threat to the security of Bitcoin Core. Supporters claim that they contribute to economic traffic and incentivize miners to stay for higher rewards.
Commentators have used analogies to describe the conflict, comparing it to someone defecating on the street or in a pool. The interest and obsession for Bitcoin Ordinals continue to provoke heated debate in the cryptocurrency community.
Jana Bertram’s Perspective on NFTs from the RARI Foundation
Jana Bertram, strategy manager at the RARI Foundation, shared her perspective on NFTs during The Agenda podcast. She emphasized that NFTs have applications beyond digital art. While the market for NFTs experienced a decline in 2022, there has been a recovery in sales in 2023. Bertram highlighted that the technology behind NFTs remains robust, with many innovators developing products and platforms. Rarible, an NFT ecosystem, has thrived during this period with the imminent arrival of a new mainnet, RARI Chain.
The podcast discusses what makes Rarible unique, the sustainability of the NFT market, future prospects of non-fungible tokens, and exciting use cases.
Hot Take: Donald Trump Profits from NFT Market
Former US President Donald Trump has found success in the NFT market, earning profits through his NFT collections. Despite his previous criticisms of cryptocurrencies, he has actively participated in the cryptocurrency market. The controversy surrounding Bitcoin Ordinals continues to divide supporters and critics. Critics argue that Ordinals registrations are spam and threaten the security of Bitcoin Core, while supporters believe they contribute to economic traffic and incentivize miners. Jana Bertram from the RARI Foundation shares her perspective on NFTs, highlighting their applications beyond digital art. Despite a decline in the NFT market in 2022, sales have recovered in 2023. The technology behind NFTs remains robust, with innovators developing new products and platforms.
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