FRAM, well known as FRAM BRC-20 NFTs, is a non-fungible token (NFT) collection on the Bitcoin blockchain. The FRAM BRC-20 NFTs have a total supply of 16,699 NFTs and have been actively traded in the market. This collection represents a pioneering step in the use of Bitcoin blockchain technology, extending its capabilities beyond its initial currency-focused purpose. The FRAM collection leverages the security and resilience of the Bitcoin network to offer unique digital assets, integrating the robustness of Bitcoin with the diverse applications of NFTs. Each NFT in the FRAM collection is distinct, providing digital collectors and investors with a new way to engage with blockchain technology.
Unlike traditional NFTs that are commonly associated with Ethereum and similar blockchains, FRAM introduces a novel approach through the use of the BRC-20 token standard on the Bitcoin network. The market performance of the FRAM NFTs collection has been impressive, with sales exceeding $33 million and over 7,600 owners as of January 2024. Particularly noteworthy is the rapid sales growth observed on the OKX NFT marketplace, where it achieved over $10 million in sales within a week.
FRAM operates on the principles of blockchain technology, specifically utilizing a token standard known as BRC-20 on the Bitcoin network. This standard is pivotal in enabling the creation and trading of both fungible and non-fungible tokens on the Bitcoin blockchain. BRC-20 tokens, like FRAM, are created through a process known as "inscription." This involves encoding data, such as images, text, or videos, onto Bitcoin satoshis (the smallest unit of Bitcoin), thereby creating unique digital assets or NFTs.
The process of creating FRAM NFTs involves sophisticated blockchain operations. Each NFT is uniquely inscribed onto a satoshi, ensuring its distinctiveness and ownership verification. This method not only preserves the integrity and uniqueness of each FRAM NFT but also benefits from the robust security features of the Bitcoin network. The use of Bitcoin blockchain for NFTs like FRAM is a groundbreaking development, as it leverages Bitcoin's extensive network and security while introducing new functionalities.
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The FRAM token is the fundamental unit of this NFTs project. It has a total supply of 8 billion tokens. As a BRC-20 token, it offers the flexibility of a cryptocurrency with the distinctiveness of an NFT. This dual nature positions the FRAM token as a versatile and appealing asset in the digital market, suitable for various applications in the blockchain and NFT sectors.
FRAM is designed as a 100 percent mintable token, making it an attractive option for trading and investment, particularly for those interested in BRC-20 tokens. However, like any investment in the volatile cryptocurrency market, the benefits and risks associated with Piin tokens should be carefully evaluated.