Inscription is a popular trend across major Blockchains, causing the number of transactions and gas fees on blockchains to increase dramatically in just a short period of time. Among them, it is impossible not to mention Avalanche, which is the Blockchain with the largest amount of gas fees consumed for Inscription. Recently, AVAV Inscription has also been announced by Umate – a global content creation platform – that they will accept the use of AVA tokens as a means of payment, so what are the details of this and what is special about AVA? Weakhand finds out in this article.
Before jumping into the article, everyone can refer to some of the following articles to understand better.
- What is Bitcoin Ordinals? Everything about Bitcoin Ordinals
- What is BRC 20? All you need to know about BRC 20
- BRC 20 brings innovation and disruption to the Bitcoin network
Popular Inscription Trend Across Blockchains
As the end of the year approaches, the Crypto market continues to have hot spots and among them we cannot help but mention Inscription. Inscriptions on the Bitcoin blockchain, also known as BRC 20 such as ORDI, SATS, RATS,… have witnessed miraculous growth hundreds, even thousands of times and are listed on most of the leading Cex exchanges. like Binance or OKX.
This story probably started two months ago when BRC 20 became popular when ORDI listed Binance. Shortly thereafter, the concept of Inscription was also mentioned across Blockchains from Ethereum, Polygon, Solana, Avalanche, zkSync,… whether it was the Layer 1 Blockchain that was exploding in the market or are emerging Layer 1/Layer 2, many Inscriptions are being launched on the market one after another.
Inscription trends appear across Blockchains
The Crypto community, after a period of silence, has suddenly become extremely vibrant recently. At the present time, if a Blockchain does not have an Inscription for users to play, it will lose a lot of attraction. Many people even consider creating Inscription as a test for that Blockchain and according to statistics, at least 6 Blockchains have not been able to withstand the heat of Inscription. Some typical names that can be mentioned in recent times include: Arbitrum, Celestia, IOST, Cronos and TON all had their networks suspended for a short period of time.
Of course there is also a lot of controversy surrounding the creation of Inscriptions. Some users believe that Inscription is a new method of releasing assets fairly to everyone while others are against it such as Luke who denies the value of Inscription for Bitcoin. Delphi Digital analyst Michael Rinko also said that if you don’t see the logic behind it and just consider Inscription as a new thing, it won’t be of any benefit to the industry as a whole.
Perhaps from a technical perspective, it is true that Inscription does not bring special value and is criticized for being ineffective, created but not used. This is similar to Meme Coin and with similar objections as Inscription in the early stages but Meme Coin has continuously grown and become a trend in the Crypto market.
Talking about use cases of Inscription is not absent, for example, SATS Token is used as gas fee for Unisat’s brc20-swap product and recently AVAV token is also used as a means of payment for Umate – a platform. global entertainment platform.
AVAV Inscription Follows SATS: Delivering the First Use Case
AVAV Inscription is an Inscription on the Avalanche Blockchain with a total supply of 21 million tokens and has so far been owned by more than 50,000 different wallet addresses. Looking at the Inscription community as a whole, the AVAV community is considered an active community. With the Inscription trend originating from China, AVAV also owns a Chinese community with more than 14,000 members after less than 1 month of establishment, including many famous KOLs.
Compared to the original mint price, at present AVAV Inscription has witnessed a growth of more than 10 times. Some rumors also say that AVAV will list some Cex exchanges in the near future such as Gate,… This further increases the community’s confidence that AVAV will “Go To The Moon”.
AVAV Inscription “To The Moon”
In addition, a recent surprising news revealed that Umate – a global content creation platform with more than 10,000 creators globally. Umate has announced support for users to use AVAV tokens to make payments and gain access to content from creators on Umate.
Although it has been deployed on a non-mainstream application, this could be the first step for AVAV to pioneer more widespread adoption in many other applications in the future, bringing corresponding value to holders.
summary
Today, while other Inscriptions are still in the hype phase, AVAV Token has been at the forefront of quietly implementing various use cases for holders. Above is all I want to introduce in this article, hope everyone has received useful knowledge.
