30 Apr 2024

Fungi – Spore Speculation

A new token standard on Ethereum is producing a cool new digital art concept - but is the timing right?
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  • Coinbase will soon launch a new smart wallet solution. With its own L2 - Base - growing in popularity, Coinbase aims to onboard a new wave of crypto users.
  • Fungi is an on-chain art project introducing the new ERC-20i token standard, enabling unique and dynamic token inscriptions similar to Bitcoin Ordinals. The inscriptions resemble NFT art but have infinite fungibility.
  • Fungi and ERC20i represent a significant merging of memecoins and NFT art to produce a unique product. The tech is in its infancy, and we expect the applications to grow as the cycle continues.
  • Launching on Base, Fungi and ERC20i more broadly have major potential if Coinbase can continue to onboard more users to the crypto ecosystem.
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