What are Bitcoin NFT players playing? A glance at the popular trend of Bitcoin NFT ecology
Original Author: Cookie, Rhythm BlockBeats
Original Author: Cookie, Rhythm BlockBeats
Rhythm BlockBeats will sort out the main categories of current Bitcoin NFT projects for you in this article. What are Bitcoin NFT players playing? Let's take a look.
BRC-20 Token
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"In the article, the author has made a more detailed introduction to BRC-20 Token. To put it simply, the current BRC-20 Token can still be understood as "speculating NFT", because the transfer-related infrastructure has not yet been perfected, and most of the OTC transactions are direct sales of wallets with "valid Mint inscriptions (NFT)" done with the private key.
At the same time, most of the off-exchange transactions are also $ordi transactions, because $ordi is the first BRC-20 Token successfully deployed. Currently, the off-exchange transaction price of $ordi has risen from 1000 $ordi = 10 u to 1000 $ordi = 50 ~ 60 u.brc-20.ioimage description
brc-20.io
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.sats domain name
If you're new to bitcoin NFTs, Mint's own .sats domain name is a great way to start. At present, the .sats domain name has been initially empowered. For example, in the UniSat wallet, the transfer to the Bitcoin address corresponding to the .sats domain name is already supported:
Use UniSat to transfer funds to the address corresponding to the .sats domain name
For another example, the first social application "Damus" based on the decentralized social protocol Nostr will soon support the use of .sats domain names as usernames.
Like the BRC-20 Token, the Mint.sats domain name is equivalent to a BTC NFT of text type in Mint.
The rule for determining the validity of the .sats domain name is very simple, and it is also a widely accepted rule in the Bitcoin NFT market - "First come, first served". Although anyone can repeatedly write the same text to Mint the same text type NFT, only the first successful Mint is judged as true.
If the target domain name is not Mint, the following prompt will appear:
「xxxx.sats not found」
If the target domain name has been Mint, the following prompt will appear:
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The prompt will contain information such as the inscription ID of the target domain name, the address of the holder, etc.Once we are sure, we can use some Bitcoin NFT Mint tools to register the domain name. exist"", the author has introduced the Mint process of BRC-20 Token in detail. For the domain name, just change the Mint type to ".sats" and refer to the Mint process of the BRC-20 Token.
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Select the Mint category as ".sats"UniSatIf you want to purchase a domain name, you need to check the validity of the NFT before purchasing. already have
Tools such as , etc. can be easily queried, taking UniSat as an example:
From the query results, we can see that 342 "111.sats" were released by Mint. But according to the "First is First" rule, only the "111.sats" NFT with the inscription number #173458 is true (UniSat ticked this NFT), buy other "111.sats" NFTs are all invalid.
Pure digital domain names are more popular among players. For example, "896.sats" was sold at a price of 0.1 BTC, and "04.sats", "988.sats" and "8848.sats" were all sold at a price of 0.05 BTCC. In recent days, 5-digit pure digital domain names have seen more transactions, and the price range is mostly between 0.0002 and 0.0005 BTC.
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The ordinary NFT here refers to the familiar "small pictures", such as PFP, Art and so on. Under this track, we can select potential NFT projects from four perspectives.
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The NFT project of "big card slot"
Such projects already have great influence, so the launch price is also high. Yuga Labs' "TwelveFold" sold 288 NFTs in an auction, with the highest winning bid price being 7.1159 BTC and the lowest winning bid price being 2.2501 BTC, with a total auction revenue of about 16.5 million US dollars. Currently, on ordinals.market, the floor price of "TwelveFold" exceeds 30 ETH, and the cumulative turnover is 108.49 ETH. DeGods sold 500 Bitcoin versions of DeGods within 2 minutes at a price of 0.333 BTC.
"TwelveFold" by Yuga Labs
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Since there are no smart contracts on the Bitcoin network, it is unclear how these "big card slot" NFT projects will be empowered in the future. An interesting detail is that Yuga Labs used the word "Inscribe" very carefully during the release process, while DeGods still used "Mint". Although it is only a small wording difference, it has a completely different meaning for Bitcoin NFT - there is actually no NFT on Bitcoin, and the so-called NFT is just writing different content on different Satoshi. Since no new tokens are "minted", the term "Mint" does not apply.
「Sub 10 K」
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Currently, the 2nd and 8th Bitcoin NFTs issued by Mint—Inscription #2 and Inscription #8 are both listed on the Ordinals Wallet market.
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The current highest-traded “Sub 10 K” Bitcoin NFT is Ordinals Punk #87 (Inscription #613 ), with a transaction price of 2.77 BTC. On March 17, Bitcoin Logo image Inscription #3384 was sold at a price of 0.31 BTC. The most influential "Sub 10 K" series include Ordinals Punks, Bitcoin Shrooms and Planetary Ordinal, and the familiar Bitcoin Punks is "Sub 100 K".
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Refers to the NFT series that continue to receive valuable airdrops after holding. The currently well-known "shovel" is BTC Machine, and they have airdropped two projects, BTC Operators and BTC Virus. Currently, the floor price of BTC Machine on the Ordinals Wallet market is 0.088 BTC, while the floor prices of BTC Operators and BTC Virus are 0.018 BTC and 0.0012 BTC respectively.
BTC Machine
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Pixel Pepes
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"Original Meme"
Bitcoin NFTs are a nascent market. At this early stage, the ideas of many projects are carried directly from ETH NFT, such as Punk, Toadz, Apes and so on. However, if we have high expectations for the long-term development of the Bitcoin NFT market, then the blue chips on Bitcoin will definitely be distinguished from ETH NFT in terms of underlying logic and gameplay, and will develop their own in terms of narrative and artistry. Unique route.Meme culture has always been an important part of NFT art. Bitcoin native culture has a good meme accumulation. Currently the most popular Bitcoin NFT project Taproot Wizards is Bitcoin native Meme culture. (Recommended reading: "」）
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At this stage, the investment logic of Bitcoin NFT has not shown much difference compared with ETH NFT. Since more players interested in NFT come from ETH, it is easier for projects that have accumulated a certain amount of traffic on ETH to migrate to Bitcoin to succeed. Most of the NFT projects on Bitcoin also used mechanisms such as the whitelist and Paid Mint (paid minting) on ETH during the cold start phase. Just like the Solana NFT market that was once popular last year, influential giant whales entered the market one after another after smelling the breath, leading their forces to take a bite of the new attention economy pie.
But in the long run, if we believe that Bitcoin NFT will develop into another market comparable to or even surpassing ETH NFT, Bitcoin NFT will definitely and must develop its own uniqueness from the perspectives of artistic content and cultural logic, forming the Bitcoin The unique "circle culture" of the NFT circle. Bitcoin's native Meme cultural elements, Bitcoin's fair and pure value shaping process for a long time (for example, Free to Inscribe should be the case, because the centralized project party does not have the power to price Bitcoin. The value shaping of Bitcoin It is a long-term process of decentralization and cohesion) coupled with accumulated artistic creation, the new Bitcoin NFT blue chip will stand out from the crowd.
