Explore M-NFTs: A new era in digital collectibles. Learn how they work, cost-effectiveness, and more. Your guide to M-NFTs!
According to a report from Blockworks , the number of individuals minting NFTs increased from approximately 500 to 1.2 million last year. Despite a notable decrease in trading volume, the myriad use cases that NFTs unlock offer a new world of capabilities and perks within Web 3; therefore, creating new collections continues to flourish. The NFT minting and trading experience is defined by the blockchain used for minting the collection.
Most NFT collections, especially during the DeFi summer, were minted using the Ethereum network. However, Ethereum can prove to be costly due to gas fees. As a result, new solutions have emerged, such as Bitcoin Ordinals.
Maya Scan has introduced MRC20 tokens to the industry, providing a fresh approach to minting NFTs powered by $CACAO and the Maya Protocol Blockchain. This presents a novel solution for deploying your collection or accessing new NFT collections.
M-NFTs draw inspiration from the ERC-721 standard on Ethereum and Bitcoin Ordinals technology, creating a new framework that seamlessly integrates token deployment, minting, transfers, selling, and buying.
M-NFTs reside on the Maya Protocol chain, making them a more cost-effective, faster, and less congested option.
To mint your first M-NFT collection, you only need to send a Tx from a Mayachain wallet that supports sending transactions using memos. At the moment, you can use El Dorado or Thorwallet DEX.
Once you have your wallet ready, go to Maya Scan.