Over the past few months, crypto fans have been fixated on a pair of new tools that allow them to trade NFTs and create new tokens using bitcoin’s underlying blockchain network. That has sparked a surge in trading of Bitcoin-based digital artwork collections including BTC DeGods, Bitcoin Wizards, Bitcoin Punks and Bitcoin Pizzas.
There’s more. Memecoins, or cryptocurrencies created as a joke and with no underlying function, have also spiked. Ordi coin, elon coin and moon coin are three that have amassed hundreds of millions of dollars in combined market cap. A Bitcoin network-based Pepe coin, based on the comic Pepe the Frog—which historically has developed hateful and offensive connotations—has also taken off.
