Original Author: Cookie, Rhythm BlockBeats
Original Author: Cookie, Rhythm BlockBeats
I became obsessed with NFTs on the Bitcoin mainnet after discovering the Ordinals protocol late one night in early February.
Since the official launch of the Ordinals protocol on January 29, more than 1.1 million inscriptions have been engraved, and these more than 1.1 million Satoshi (the smallest unit of Bitcoin Satoshi) have been completely different since then.
In the past two months, we have seen Yuga Labs, Degods and even the real supercar brand Bugatti enter the market one after another. The relevant infrastructure is developing rapidly, trading markets (Magic Eden, Gamma, Ordswap, Ordinals Wallet, etc.), wallets (Hiro, UniSat, Xverse, etc.) that adapt to Bitcoin NFT, aggregators (bestinslot.xyz), and better browsing The devices (OrdinalHub, ordiscan) have made the experience of the Bitcoin NFT ecosystem more and more perfect and friendly.
With these questions in mind, I went to Hong Kong.
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Ordinals at Web3 Festival
After entering the main venue, I quickly found the first project related to the Ordinals protocol - BTCDOMAIN.
Different from the .btc domain name provided by btc.us on the Bitcoin sidechain Stacks, the .btc domain name of BTCDOMAIN, like .sats, .unisat and other domain names, is completely built on the Bitcoin mainnet through the Ordinals protocol. The .sats domain name is currently the most widely accepted domain name in the Bitcoin NFT circle, but it is also more hardcore in terms of user experience. Because the validity of the domain name follows the First is First rule of Bitcoin NFT, it is necessary to check whether the domain name has been burned through the official API before registration. BTCDOMAIN is closer to the familiar Ethereum domain name ENS in terms of experience, and you can directly search whether the domain name has been registered on the official website. BTCDOMAIN introduces zk proofs to ensure that the domain name will not be registered repeatedly in the absence of smart contracts, and to ensure that the domain is resolved without the possibility of tampering.
After talking with the staff of BTCDOMAIN, I started looking for the second project related to the Ordinals agreement on the spot. And then theres that... The only thing that even had anything to do with the Ordinals protocol was Bitcoin Magazine, unfortunately there was no staff at their booth that day and I wasnt able to talk to them about Ordinals. Bitcoin Magazine just sold the first 23 issues of Bitcoin Magazine cover Inscription on Gamma in Dutch auction not long ago. So far, 9 copies have been sold. The highest transaction is the cover of the first issue of Bitcoin Magazine in history. The transaction price is 1.25 BTC. The buyer is trevor.btc.
Very fortunately, I got an opportunity to promote Bitcoin NFT under the recommendation of a good friend of mine that night. The response at the scene made me more convinced that the above conclusion is correct.
At the NFT Social event, I gave a keynote speech on Differences between Bitcoin NFT and Ethereum NFT
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Ordcon and Ordinals Party
Very rare, on April 14th there are two completely Ordinals-themed events, Ordcon (@Ordcon_) and Ordinals Party.
Many Bitcoin NFT infrastructure project parties participated in Ordcon and shared their insights, such as Magic Eden core developer Matthew Williams, Ordswap Co-Founder Jack Liu, Luxor mining pool COO Ethan Vera (Luxor just acquired Bitcoin NFT data analysis website Ordinals Hub), Founder Ken of Xverse, Co-Founder Brutoshi of AstroX, etc.
Matthew Williams, the core developer of Magic Eden, shared the story behind the development of the Magic Eden Bitcoin NFT trading market in a short video. The whole team gathered in a villa to complete the construction of the Magic Eden Bitcoin NFT trading market, which was very interesting. Matthew highlighted what he believes are the advantages of Bitcoin NFT over NFT on other chains, such as full chain, immutability, etc. At the same time, it also introduces some optimizations made by Magic Eden in the transaction of Bitcoin NFT, such as PSBT, compatibility of different wallets in different markets, etc. Matthew is very funny and easy-going. After the speech, some friends at the scene asked him some questions related to Solana NFT, and he also gave his answers with a smile.
Ordswaps Co-Founder Jack Liu is tall and funny. Jack Liu has worked in the Bitcoin ecosystem for a long time. Before Ordswap, he developed more in the BSV ecosystem. When the Ordinals protocol was officially launched on the Bitcoin mainnet at the end of January, Ordswap quickly entered this new market and became the first Bitcoin NFT trading market using PSBT technology. Jack Liu himself is also a Bitcoin NFT player. Wild Jack can often be caught in online discussions related to BRC-20 Token. At the meeting, he also emphasized the potential of BRC-20 Token.
One of the topics that impressed me the most was raised by a friend at the scene—currently, none of the Bitcoin NFT trading markets support royalties, and the absence of royalties is a great obstacle to the development of NFT project parties. Does the trading market have a solution for this? In fact, the answers from various Bitcoin NFT trading markets are not very satisfactory to me. For example, the project party can reserve a part of NFT as funds to grow together with the holders. This is not unreasonable, but it just doesnt fit the status quo of the Bitcoin NFT ecosystem. Many Bitcoin NFT project parties are currently in the complete power generation with love stage. Everyone follows the Bitcoin spirit in their hearts and insists on a fair, free and free choice of start-up method, which means that the successful start of the project and It will not bring any income to the project party. I once told Blueberry, the Founder of PixelBirds Sparrow, that after the project was successfully launched, I didnt laugh, but felt that the burden on my shoulders was heavier. Blueberry also told me frankly that they have invested a lot of money in PixelBirds Sparrow, from doing a cool experiment at the beginning to responsible to Holders, how sustainable development is really troublesome.
After Ordcon ended, most of my friends went to the Ordinals Party. Ordinals Party is organized by Ordz Games, the first GameFi project on Bitcoin NFT. This is a GameFi project that combines BRC-20 Token and burns small games on Bitcoin. It is quite interesting. On the way to the Ordinals Party, I walked with Stone. When we talked about the Ordinals protocol for the first time, we were both very excited. I said that I didn’t look carefully at the principle of the protocol that night. Thats enough to get me excited, Stone laughs +10086.
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Casey Rodarmor, the founder of Ordinals protocol, sent a wave of remote blessings to the Ordinals Party
My biggest achievement at the Ordinals Party was meeting Ivan, the developer of BRC-1155. Coincidentally, Ivan was standing next to me, and we suddenly started chatting for more than an hour. Both Ivan and I believe that Bitcoin NFT is really free. The role of the Ordinals protocol is not just to create one after another NFT series like on Ethereum, but to give everyone a fair freedom to explore Bitcoins right to value diversity. Of course you can create an NFT series, and you can even use the Bitcoin network as your diary to record the words you write, the pictures you draw, the songs you sing... from ancient times to the present , People record their information on the walls of caves, on bamboo slips, on paper, on computers, and until now on the Bitcoin network. As long as you think that the Bitcoin network is eternal, then the information recorded on the Bitcoin network is also eternal, and the carrier of the information is Bitcoin itself. There is nothing cooler than this.
What is the value of longevity of storage? Perhaps, the long-term storage itself is one of the greatest values of NFT. Its impossible to know what it means to keep something intact for 20, 200, or even 2,000 years, but many times, time will tell.
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epilogue
Perhaps because Bitcoin NFT is still a small circle, this circle made me relive the feeling when I first entered the NFT world. During my trip to Hong Kong, every Ordinals Builder I met praised each others development achievements or projects. Orders help orders, build together, grow together, the future of Bitcoin NFT must be bright.
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Magic Eden core developer Matthew Williams and Ordswaps Co-Founder Jack Liu took a group photo at Ordcon
I also asked some Ordinals players to describe the difference between Bitcoin NFT and Ethereum NFT in one word, what would you choose?
Some people say that Bitcoin NFT is brand new. One of the most OG blockchain networks, but has the youngest NFT market. The stage here is not controlled by big stars, as long as you put your heart into it, as long as you love it, people here will see you and applaud you.
Some people say that Bitcoin NFT is eternal. As long as you believe that the Bitcoin network is eternal, all data burned on Bitcoin will exist forever. Do not play off-chain, only play on-chain.
Some people say that Bitcoin NFT is Bitcoin. In fact, there is no Bitcoin NFT, there are only Bitcoins that have been freely burned by people. Just like at the beginning of the Ordcon meeting, the host took out a Hong Kong dollar and introduced it to everyone-this is a banknote with a serial number. If you write something on it, will it be different? Hong Kong dollar does not know, but Bitcoin will! 1 Satoshi = Whatever you inscribed, this is the biggest underlying value logic difference between Bitcoin NFT and Ethereum NFT.
Some people say that Bitcoin NFT is historically valuable. Because the burning of Bitcoin NFTs will lead to differences in the serial number of Bitcoin NFTs, the sooner burning Bitcoins may be more valuable in the future, just like dinosaur fossils in the Jurassic period, and fossils in the Shang Dynasty. Bronze ware to modern steel bars.
Some people say that Bitcoin NFT is free. From Slik Road, to some online shopping malls, to Amazon and eBay, Bitcoin has been developing along the path of more widely accepted currency. The emergence of the Ordinals protocol has made Bitcoin more free. Who knows what extra value a burned Satoshi would have? The free flow of the market will give these burned bitcoins a new value. One day, we will get the answer to this question.
These answers are all showing us the unique charm of Bitcoin NFT compared to Ethereum NFT.
