The ‘Ethscriptions’ project is forging a path in the Ethereum ecosystem with its Bitcoin Ordinals-inspired carvings.

In this week’s roundup, we delve into a fresh method for minting Ethereum-based nonfungible tokens (NFTs), courtesy of a project. We also take a look at Nike’s recent team-up with the viral gaming phenomenon Fortnite, and how hip-hop artist Snoop Dogg intends to leverage NFTs to bring his fans along on his tour adventures. Additionally, Dmitri Cherniak’s NFT masterpiece, “The Goose”, was auctioned off for a staggering $6.2 million. In another highlight, Kenny Schachter, a well-known artist, engages in a conversation with Cointelegraph about the future of blockchain-based art.

30,000 ‘Ethscriptions’ Take Flight on Ethereum

Drawing inspiration from the Bitcoin Ordinals protocol, Ethscriptions introduces a novel approach to NFT minting on the Ethereum network. With similarities to Ordinals, Ethscriptions enables users to permanently etch images onto the Ethereum blockchain.

As per the project’s co-creator, Tom Lehman, Ethscriptions’ assets operate via information within a smart contract labeled as “calldata”. Lehman suggests this offers a more liberated minting process, contrasting the traditional methods.

Nike’s ‘Airphoria’ NFT Sneaker Chase Soon to Kick-off on Fortnite

Global footwear giant, Nike, provided a sneak peek of a forthcoming sneaker NFT release within the Fortnite virtual gaming universe. An intriguing short video was shared on social media, hinting at a Fortnite collaboration, followed by a glimpse of Nike’s NFT branch, .Swoosh.

As details were sparse, it led to an explosion of community conjecture. A popular theory among enthusiasts suggests that Nike might have utilized Fortnite Creative 2.0, the game’s customizable map creator, to design an NFT-centric game.

Digital Tour Pass: Snoop Dogg’s NFT Gives Fans Backstage Access

Hip-hop artist Snoop Dogg recently unveiled an NFT offering his fans a unique opportunity to accompany him on tour, digitally. The Snoop Dogg Passport Series promises fans exclusive access to behind-the-scenes content curated by the rapper during his tours.

The music legend expressed his desire for other artists to draw inspiration from his innovative approach, emphasizing his belief in digital merchandise as a key aspect of the future.

Dmitri Cherniak’s “The Goose” NFT Fetches $6.2 Million at Sotheby’s Auction

Sotheby’s prestigious auction house has successfully auctioned off an NFT artwork titled “The Goose,” created by Dmitri Cherniak. The NFT was a prized piece of the collection from the defunct crypto hedge fund, Three Arrows Capital (3AC).

In August 2021, 3AC originally acquired “The Goose” for 1,800 Ether (ETH $1,876), equivalent to roughly $5.8 million at that time. Sotheby’s recent auction saw the NFT change hands for a grand sum of $6.2 million.

“Slow Food”: Kenny Schachter Ruminates on Blockchain Art’s Evolution

Renowned artist and NFT advocate, Kenny Schachter, recently wrapped up his first New York City art exhibition in a quarter of a century, titled “Slow Food.” Schachter conveyed to Cointelegraph his belief that while NFTs may not surge as they did before, this could be a positive development.

Schachter anticipates a shift of focus towards the numerous applications of blockchain technology, surpassing the initial hype. This includes the invaluable ability to maintain a record of provenance, offering clear visibility of an artwork’s previous custodianship.

The proliferation of NFTs and blockchain technology in diverse industries is a fascinating trend to observe. This adoption signals a paradigm shift in how assets, whether tangible or digital, are perceived, acquired, and utilized.

This article not only provides a comprehensive review of the week’s significant developments in the NFT and crypto space but also serves as a source of inspiration for individuals and businesses exploring innovative applications of blockchain technology.

For instance, Snoop Dogg’s NFT Passport Series introduces a new way for artists to interact with fans, offering a behind-the-scenes experience that was previously inaccessible to most. Similarly, Nike’s collaboration with Fortnite represents a blend of physical and digital realities, illustrating the exciting potential of NFTs in mainstream industries.

Lastly, Ethscriptions’ innovative approach to minting NFTs on the Ethereum network showcases the potential of blockchain technology in redefining existing systems and processes. These developments indicate a future where technology and creativity will merge more seamlessly, leading to a more interconnected and immersive world.