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Nifty News: Bitcoin NFTs cause spicy fees, Mastercard exec tokenizes resignation letter and more

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Users are posting massive files to the Bitcoin network via the Ordinals protocol, taking up block space and paying high fees to do so.

Bitcoin Ordinals causes fees to spike

The Bitcoin (BTC)-native Ordinals protocol is taking up record-breaking space on the blockchain and in the process is hiking the transaction fees on the network.

The divisive newly launched protocol allows for nonfungible token (NFT)-esque assets on the Bitcoin mainnet by inscribing satoshis with content.

So far, inscriptions have included content such as images, documents including a PDF file of the Bitcoin whitepaper and even a fully playable clone of the video game DOOM.

97e86a25-2e87-40fe-b475-35f6e2b9e340.pngThe 31.2 kilobyte DOOM clone (pictured) will now forever be playable on Bitcoin. Image: Ordinals

On Feb. 2, independent developer, Udi Wertheimer, tweeted he had conducted the “largest transaction in Bitcoin’s history” after using the Ordinals protocol to inscribe a 3.94-megabyte image of a sunglass-wearing, bald, bearded wizard lauding “magic internet JPEGs.”

Last night, we made history

The gatekeepers tried to censor us

But we mined the LARGEST BLOCK and LARGEST TRANSACTION IN BITCOIN’S HISTORY

Special thanks to bitcoin full node operators for supporting our efforts and hosting our 4MB NFT for all eternity!

gm @TaprootWizards ‍♂️ pic.twitter.com/uKGG918af8

— Udi Wertheimer (@udiWertheimer) February 2, 2023

The data size of these inscribed transactions are much more than those typically conducted on the blockchain and as a result have driven up the fees associated with processing them.

Typical Bitcoin transactions can cost a few cents to a few dollars, but Ordinals can cost tens of dollars in comparison.

Figures from crypto-mining data provider Hashrate Index show over the past seven days fees as a percentage of the block reward are on the rise starting off the week at around 1% before jumping to a Feb. 1 weekly high of 6.74%.

Mastercard’s NFT lead quits on bad terms, sells resignation letter as NFT

The now-former NFT product lead at payments giant Mastercard left the company in a spectacular fashion, publicly slamming the firm for purportedly mistreating him and offering up his resignation letter as an NFT.

In a Feb. 2 Twitter thread, Satvik Sethi claimed Mastercard cut his salary by 40% when he moved from New York City to London claiming he “had to work side jobs this past year to make ends meet.”

I have resigned from @Mastercard.

For the past year, I served as the ‘NFT Product Lead.’ I evangelized Web3 for Mastercard leadership & regional teams, as well as all our Fortune 500 clients & partners.

This wasn’t easy but read on for why it was necessary, and what’s next : pic.twitter.com/kqiavsSIW7

— Satvik Sethi (@sxtvik) February 2, 2023

He claimed that at times he would not receive his salary “until I begged across the hierarchy for it.”

Sethi also alleged he was the victim of harassment “caused by a series of mismanaged processes, miscommunication [and] internal inefficiency.”

He asked his over 22,000 Twitter followers for their support by minting his resignation letter for 0.023 Ether (ETH), worth around $37.

“100% of this goes to survival,” Sethi added as he will lose his British work visa and would “be based in India for the foreseeable future.” A future airdrop of art for holders of the NFT was also promised by Sethi.

At the time of writing 53 NFTs of the letter, which Sethi titled “New Beginnings” had been minted.

Cointelegraph contacted Mastercard for comment regarding Sethi’s allegations but did not immediately receive a response.

eBay eyes talent for its acquired NFT marketplace

E-commerce player eBay is looking to hire several Web3-related roles for its United Kingdom-based NFT marketplace KnownOrigin which it acquired in June 2022.

Job postings by eBay on LinkedIn revealed its hiring for positions in the U.K. and at its headquarters in California.

Among the roles are a Manchester-based Head of Community for KnownOrigin along with a Content Designer and Marketing Campaign Executive for the marketplace amongst other positions.

The firm is also hiring two California-based positions for a Crypto Counsel. The job description says the role will see a “creative crypto attorney” joining eBay’s legal team to support its “business, product, compliance and technology teams in the Web3 space.”

OpenSea rolls out suite of tools for NFT creators

NFT marketplace OpenSea released the next series of tools for its “Drops” feature which is used to help creators launch NFT collections with OpenSea to benefit from its reach.

In a Feb. 2 Twitter thread, OpenSea said it had worked closely with 20 teams to “build a best-in-class drops experience.”

We’re excited to start rolling out the next phase ofDrops on OpenSeaa product we’ve been working on for the past few months! https://t.co/rRydH289Vq ⬇️

— OpenSea (@opensea) February 2, 2023

The next phase of the rollout includes giving creators tools allowing them to conduct multi-stage minting, smart contract deployment across multiple Ethereum Virtual Machine (EVM) chains and personalize web landing pages among other features.

The tool will be “gradually opening up” to select creators “over the coming weeks” according to OpenSea.

It will also add more features in the coming weeks before it’s released to the public at large.

OpenSea has experimented with its Drops feature by creating personalized pages for select collections, most notably, one was created for the debut collection by actor Sir Anthony Hopkins which ended up selling out in under 10 minutes.

Other Nifty News:

Japanese Prime Minister, Fumio Kishida, said there are “various possibilities for using Web3” in the country, and the government may use NFTs and decentralized autonomous organizations (DAOs) to promote its “Cool Japan” strategy aiming to show off the nation's tech and culture.

Cointelegraph spoke with industry professionals on how to prevent NFT thefts who advised users to take due diligence, revoke unnecessary permissions and segregate NFTs into different wallets among other measures.

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  • 14.10.25 08:46 robertalfred175

    CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 14.10.25 08:46 robertalfred175

    CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 18:07 crypto

    Cryptocurrency's digital realm presents many opportunities, but it also conceals complex frauds. It is quite painful to lose your cryptocurrency to scam. You can feel harassed and lost as a result. If you have been the victim of a cryptocurrency scam, this guide explains what to do ASAP. Following these procedures will help you avoid further issues or get your money back. Communication with Marie ([email protected] and WhatsApp: +1 7127594675) can make all the difference.

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

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