GM Brew Crew, odds are you are hurting pretty badly this morning after the holiday weekend. Let us be your electrolyte packet to bring you back to life. Let’s dive in ⬇️

On the menu today:

• BRIDGING THE NFT GAP 🌉

• WHEN LIFE GIVES YOU JPEGS 😬

• BINANCE BOLSTERS GLOBAL EXPANSION WITH NEW APPOINTMENT 🌎

Today’s Charts:

BRIDGING THE NFT GAP 🌉

Discover the game-changing BRC-721E token standard and Bitcoin Ordinals, revolutionizing NFT transfer and storage on the Bitcoin blockchain.

• The BRC-721E token standard, launched by the Ordinals market and Bitcoin Miladys NFT collection, allows for the transfer of Ethereum ERC-721 NFTs to the Bitcoin blockchain through Ordinals.

• Ordinals is a layer-2 solution that enables decentralized storage of digital art on the Bitcoin blockchain, and with the introduction of the BRC-721E standard, users can migrate their ERC-721 NFTs to Ordinals.

• The migration process involves burning the ERC-721 NFT on Ethereum, which is irreversible, and then inscribing valid BRC-721E data on Bitcoin to claim the burn.

WHEN LIFE GIVES YOU JPEGS 😬

Investors who jumped on the bandwagon of hip NFT projects like Doodles, Invisible Friends, Moonbirds, and Goblintown are shedding virtual tears as their investments nosedive, taking a whopping 95% hit.

• Highly sought-after 2022 NFTs and top virtual lands for investment in 2022 have sharply depreciated in value, mirroring the 2023 decline in metaverse property value.

• According to NFTGo data, the Blue Chip Index dropped to 7,446 ETH from its peak of 12,394 ETH in July 2022.

• Despite financial setbacks, the NFT ecosystem remains attractive to new investors. On May 27, crypto skeptic Peter Schiff defied expectations by launching an NFT project on the Bitcoin blockchain through Ordinals.

BINANCE BOLSTERS GLOBAL EXPANSION WITH NEW APPOINTMENT 🌎

Binance, the world's largest cryptocurrency exchange, has appointed Richard Teng, a traditional finance veteran, as head of its global markets outside of the US.

• Teng's expanded role encompasses regions like Asia, Europe, the Middle East, and North Africa, while the US region continues to be led by Brian Shroder, former director at Ant Group.

• Teng joined Binance in August 2021 as the head of the Singapore office and has a diverse background in senior positions in the traditional financial sector, including CEO of Abu Dhabi Global Market and Chief Regulatory Officer at the Singapore Exchange Ltd.

• Binance's choice to hire a traditional financial specialist points to a dedication to meeting regulator’s expectations, obtaining licenses, and overcoming regulatory obstacles.

Special Blend: Morning Meme Roast

As the CryptoBrew Daily comes to a close, we invite you to join us on Twitter for more crypto chat. Think of it as a chill gathering of like-minded folks, minus Chad talking about his 1-rep deadlift max and your tipsy uncle who always shares TMI stories. Let’s keep the crypto conversation going!

***DISCLAIMER: Please note that the information provided in this newsletter is for educational purposes only and is not intended to be construed as financial advice or a solicitation to buy or sell any assets. We urge you to exercise caution and conduct your own research before making any financial decisions.