<div class="cryptonews">
 <p class="is-style-lead">Bored Ape developer Yuga Labs has rolled out a new <a rel="noopener noreferrer nofollow" title="wrapper" href="https://thebittimes.com/tag/wrapper.html">wrapper</a> for the CryptoPunks collection to ease trades on marketplaces.</p>
 <p>According to an X thread by Yuga Labs‘ smart contract developer, @0xQuit, the newly introduced CryptoPunks721 <a rel="noopener noreferrer nofollow" title="wrapper" href="https://thebittimes.com/tag/wrapper.html">wrapper</a> operates on a permissionless basis and utilizes Larva Labs‘ PunksData smart contract for on-chain metadata.</p>
 <p>The primary objective behind the development of the new <a rel="noopener noreferrer nofollow" title="wrapper" href="https://thebittimes.com/tag/wrapper.html">wrapper</a> is to streamline the <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> of NFTs from the CryptoPunks collection, originally minted in 2017, a period predating the widespread acceptance of the ERC-721 standard in January 2018.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">Last week, Yuga finalized a series of interconnected contracts that unlock new possibilities across our projects.<br><br>They'll start simple, but they're designed to allow evolution over time.<br><br>Introducing: Your Stash.<br><br>1/ pic.twitter.com/lI5L0eapZQ</p>— quit (,) (@0xQuit) December 20, 2023
   </blockquote>
  </div>
 </figure>
 <p>As noted by @0xQuit, the original NFTs from the CryptoPunks collection necessitate wrapping before being eligible for sale on key marketplaces. Wrapping involves creating a cloned token with equivalent value, while the original token is securely held by a custodian. This process involves multiple transactions, resulting in high operational costs.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> CryptoPunks drive NFT surge with $1.1m sale
 </div>
 <p>The introduction of the CryptoPunks721 <a rel="noopener noreferrer nofollow" title="wrapper" href="https://thebittimes.com/tag/wrapper.html">wrapper</a> aims to address these limitations by enabling both wrapping and unwrapping of C721 tokens in a single transaction, consequently reducing gas fees.</p>
 <p>Launched in 2017 by Matt Hall and John Watkinson of Larva Labs, CryptoPunks is a collection of 10,000 algorithmically generated pixel art characters in the form of NFTs on the Ethereum blockchain. Each CryptoPunk is distinct and has its own set of <a rel="noopener noreferrer nofollow" title="Category Features" href="https://thebittimes.com/features.html">Features</a>, contributing to its rarity.</p>
 <p>In March 2022, Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) NFT collection, acquired the NFT series of CryptoPunks and Meebits. The financial terms of the deal were not disclosed.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> What’s the Story Behind Bored Ape Yacht Club Creator Yuga Labs?
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/yuga-labs-unveils-cryptopunks721-wrapper-to-simplify-nft-trading-tbt74392.html">https://thebittimes.com/yuga-labs-unveils-cryptopunks721-wrapper-to-simplify-nft-trading-tbt74392.html</a></p>

Yuga Labs unveils CryptoPunks721 wrapper to simplify NFT trading

TheBitTimes

2023년 12월 21일에 게재된 다른 기사

On-Chain Metrics Suggest BTC Capitulation Is Imminent: Analyst

AI Streamers Break Sales Records in Vietnam’s Livestream Event

DSB Token Listed

FDIC updates official signs and rules to address misrepresentations

Circle Gains French DASP Registration Boosting EU Presence

Is Helium Going to Zero? HNT Price Drops 5% While New Mining Project Reaches $5.6 Million Milestone

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!