Ethscriptions: Ethereum's Latest NFT Craze

Ethscriptions, a new protocol for creating NFTs and other digital assets on Ethereum, has been launched by Tom Lehman, co-founder of music website Genius.com. The protocol uses Ethereum "calldata" to allow for a cheaper and more decentralized minting process compared to conventional smart contract-based methods. Users are currently limited to image-only inscriptions, but Lehman says the protocol will allow for different file types to be uploaded in the future. The launch of Ethscriptions garnered almost 30,000 inscriptions within the first 18 hours, with all 10,000 assets of Lehman's debut project, Ethereum Punks, being claimed near-instantaneously.