Exploring the Rise of M-NFTs: A Game-Changer in the World of Digital Collectibles

Explore M-NFTs: A new era in digital collectibles. Learn how they work, cost-effectiveness, and more. Your guide to M-NFTs!

October 18, 2023
  • Ethereum has been the primary platform for minting NFTs, but its high gas fees have posed challenges for creators. Many sought alternatives, including Bitcoin Ordinals.
  • Introducing M-NFTs: Maya Scan has introduced a new approach to NFT minting using MRC20 tokens, powered by $CACAO and the Maya Protocol Blockchain.
  • M-NFTS  are cost-effective and efficient solution for deploying and accessing NFT collections.
  • How M-NFTs Work: M-NFTs blend features from Ethereum's ERC-721 standard and Bitcoin Ordinals technology to create a framework that seamlessly integrates token deployment, minting, transfers, selling, and buying. They reside on the Maya Protocol chain for improved performance.
  • Comparing M-NFTs, Bitcoin Ordinals, and Ethereum: A detailed comparison table showcases the differences in minting fees, transaction times, security, and minting assets between M-NFTs, Bitcoin Ordinals, and Ethereum.

Introducing 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.

So, how does M-NFTS work?

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.

Comparing M-NFTs, Bitcoin Ordinals, and Ethereum: A New Era of NFT Minting


How do I start minting my collection?

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.