Wed 02/15

Good Morning. Today we have covered what the hell are the Ordinal NFTs and why the hype ( head to the bottom for the article link), India is seeing tremendous growth in the CBDC pilot program, a couple is using NFTs to make their baby carbon neutral and someone soled their Bored Ape NFT to buy an Ordinal ( call that crazy?)

₹ India Wants To Proceed With Precision When It Comes To CBDC: The deputy governor of RBI, Rabi Sankar, has stated that the central bank is aiming to conduct CBDC testing in the most seamless manner possible. The digital rupee pilot launched by the RBI last year has already attracted 50,000 users and 5,000 merchants. During a press conference, Sankar stated that the RBI is aiming for certain targets in terms of users and merchants and intends to proceed at a slow and steady pace to avoid unforeseen negative impacts. The digital rupee pilot project has seen 770,000 transactions across eight banks since its launch on December 1, 2022, and is currently being conducted in five cities with plans to gradually expand to nine more cities in the near future. Sankar also disclosed that five more banks are scheduled to join the pilot project soon.

👶🏻 Chennai Couple Is Using NFTs To Make Their Baby's Carbon Foot Print Zero: The couple is using NFTs to achieve carbon neutrality for their upcoming baby with a food forest. 3 months ago, they purchased a two-acre land in Tamil Nadu, and with the help of farmers, they planted a thousand plants that will provide food and habitat for local wildlife and absorb and store carbon from the atmosphere. The couple plans to mint an NFT, called NOVA, to symbolize their initiative, which will also be the "digital name" of their baby. The NOVA initiative is a part of Seerakku, a platform the couple started that combines blockchain technology and gamification to help individuals and businesses offset their carbon emissions. The couple's vision is to plant at least 50 trees for every baby born in India.

💸 Binance Sees $1 Billion Withdrawals Amid Regulatory Action On BUSD: Paxos, the organization responsible for issuing Binance USD (BUSD), burned stablecoins worth $342 million in the past 24 hours, according to data from Etherscan. Binance users have been pulling out their cryptocurrency assets after one of the exchange's products faced regulatory scrutiny, resulting in outflows of $621 million in the last day, as reported by Wu Blockchain. However, as of yesterday, the outflows had decreased to $460 million according to DeFillama data. On Feb. 13, Binance saw its largest daily withdrawal of Ethereum-based (ETH) tokens since Nov. 24, 2022, with $916 million in outflows, according to dune analytics data.

💵 Cryptopunks And Autoglyphs To Be Displayed At The Centre Pompidou Museum: The Centre Pompidou, a prominent museum in France, is planning to feature a selection of NFTs from renowned artists as part of its permanent exhibition this summer. The museum announced that it will be showcasing a collection of NFTs created by 13 digital artists from around the world. The exhibition will feature several popular NFTs from highly valued collections such as CryptoPunk #110 and Autoglyph #25, both of which have been donated to the Centre Pompidou. The museum has tweeted that it has acquired a group of works that explore the connection between blockchain technology and artistic creation, including its initial set of NFTs. The collection consists of 18 projects created by 13 French and international artists.

👀 Jason Williams Burnt A Bored Ape For A Bitcoin Ordinal Equivalent And People Are Confused: In a tweet, Jason stated that the NFT community is shifting towards BTC, where the implementation of Ordinals has brought true scarcity to collectibles. He firmly believes that this move is irreversible and that the NFTs will not return to ETH. This move sparked a backlash from many in the Bored Ape community. Greg Solano, the co-founder of Yuga Labs, responded to the criticism, stating that the license is not lost forever but rather transferred to a different address. In a recent CryptoSlate story, @dotta described the process of implementing Bitcoin Ordinals as "incredibly bad,". Still, given the OG ethos of running a node on the most OG of cryptos (Bitcoin), @dotta said it feels still like “early days alpha.”

Web3 QA Engineer At Trikon Ecosystem

What The Hell Are Ordinal NFTs?: Ordinal NFTs (aka digital artifacts or inscriptions) allow users to mint non-fungible tokens onto Bitcoin’s blockchain — image and all. The Ordinals protocol was launched in January 2023 and it enables users to explore, transfer, and receive individual satoshis — which may include unique inscribed data such as videos and images. It’s a new way to mint NFTs on Bitcoin, one that involves putting the actual content of the NFT completely on-chain.