Bitcoin NFT protocol Ordinals Eco Summary

原文标题：《 比特币 NFT 协议 Ordinals 生态汇总|  veDAO 研究院 》

原文作者： veDAO 研究院

As a cryptographic Token that can represent unique digital assets or physical assets, NFT is unique and irreplaceable on the blockchain. NFT has been developed over the years on smart contract platforms such as Ethereum, spawning many notable projects and applications. However, on Bitcoin, the earliest and most secure blockchain, NFT has not been widely developed and applied due to its lack of native smart contract functions and high transaction fees.

To solve this problem, a protocol called Ordinals was officially launched on December 14, 2022, which utilizes the technical features of SegWit and Taproot3 on the Bitcoin network to enable the direct casting, transfer, and destruction of NFT on the Bitcoin chain. The Ordinals protocol numbered each bitcoin's smallest unit and linked it to a piece of metadata to form a unique and traceable NFT. The Ordinals protocol does not require any centralized or trusted party involvement, nor does it rely on any Layer2 or side chain solution, and it fully follows the rules and security of the Bitcoin network itself.

Since its launch, the Ordinals protocol has attracted many developers and users to participate, and has spawned a number of projects and applications based on the protocol. According to ChainCatcher, more than 300,000 NFT have been minted in the Ordinals agreement, and the number continues to grow.

The previous veDAO Institute article brought an introduction to BTC NFT and some methods for obtaining it, as well as an interpretation of the relevant ecology. In this paper, veDAO Research Institute will further check and interpret the ecological projects of BTC NFT.

Casting  

Ordinals Bot

Ordinals Bot is a tool for minting Bitcoin NFT on the Ordinals protocol, created by the Satoshibles team that founded Ordinals. The tool eliminates the need to run bitcoin nodes while a Bitcoin NFT is being minted.

After entering the official website and uploading the file, the user will pay the casting fee through Lightning network or regular network, and the casting will be carried out after the transfer is completed. If the user provides the NFT receiving address, the NFT will be automatically sent to the user. If the user does not provide an NFT receive address, the Ordinals Bot will hold the inscription for it until the user sets it up. Once the user has set up the wallet, simply access the order checking tool to add the address and receive the NFT.

Gamma.io

Stacks NFT Marketplace Gamma, formerly known as STXNFT, changed its name to Gamma on April 27, 2022. The platform is designed to bring collectors, creators and investors together in the Bitcoin ecosystem to explore, trade and showcase NFT. The Gamma platform consists of three core products: the NFT Marketplace, Launchpad, and the social platform. Gama. io supports both the primary and secondary markets for Bitcoin NFT.

Gamma.io offers a casting method called Gamma bot. Users can use the Gamma bot to cast their own unique digital works for collection or sale. Users can cast an NFT with a simple command that requires no coding or technical knowledge: just add a Gamma bot to Discord and type a command like create to create an NFT. Gama.io has also launched a.btc domain marketplace that allows users to have their own decentralized identity and website. Register, buy, sell, and transfer.btc domain names with Gama.io, and you can also bind them to your own NFT.

Wallet  

Ordinals Wallet

Ordinals Wallet is a wallet designed to send and receive the Ordinals protocol BTC NFT browser. In addition to the basic wallet functions, it also supports the Bitcoin NFT inscription browsing, retrieval, Collection uploading and other functions. It is still being updated. Functions such as improving transmission efficiency, UI optimization, and reading wallet balances are being developed.

In addition, Ordinals Wallet also conducted a 1,563 NFT airdrop called Pixel Pepes on February 28, which users could get with a single transaction in their wallet, but that airdrop is now closed.

Sparrow Wallet

Sparrow Walle t is a Bitcoin-based open source wallet that supports multiple transaction types and hardware devices. Sparrow Wallet also supports the Ordinals protocol, which was highly recommended by the Ordinals creators. Users can use Sparrow Wallet to receive, manage, and transfer BTC NFTS. Users can also create NFT with Sparrow Wallet by having a Taproot (P2TR) account and doing it on some website that supports ordinals.

Sparrow Wallet engrave some data (such as text, pictures, or videos) into a satoshis and uses the Taproot signature scheme to ensure the integrity and tamper-proof of the data. In this way, each Cong becomes a unique digital artwork, aka BTC NFT.

Hiro Wallet

Hiro Wallet 是一个基于 Stacks 链开发的钱包，主要用于管理 STX Token 。目前已经开始推出对比特币 NFT 的支持。浏览器扩展用户可以使用相同的密钥或硬件钱包设备从他们的 Hiro 钱包发送比特币，以跨帐户管理他们的 STX 和其他资产，用户可以在「余额」下查看他们的 BTC 持有量，还可以在「接收」下复制此地址，并很快显示用于存放 BTC NFT 的 Taproot 地址。Hiro Wallet 作为比特币生态钱包，拥有很多较为方便的内置功能，用户可以在 Hiro Wallet 内直接使用信用卡、借记卡甚至银行转账购买 STX，然后在钱包内直接参与质押。

The wallet currently supports browser extensions for Chrome, Firefox, Brave, and desktop versions for MacOS, Windows, and Linux. With support for Ordinals, users can pay for new BTC NFT and deposit them directly into their accounts as "collectibles" by connecting Hiro Wallet to an application such as Gamma. You can also share your BTC NFT personal gallery.

Xverse

Xverse is a Stack-based bitcoin unmanaged wallet and is currently one of the largest markets in the Bitcoin NFT ecosystem.

Xverse 可以让用户创建、发行、购买和出售各种类型的 NFT，包括艺术品、音乐、游戏、域名等。Xverse 支持使用 STX Token 或者其他加密货币（如 BTC、ETH 等）进行交易，也支持使用 Hiro Wallet 或者其他钱包进行连接。

Support for Ordinals protocol has now been added to support the demonstration of BTC NFT; Xverse now supports transfers to Ordinals, and the functionality is still being improved.

Bitcoin.com Wallet

It is a mobile wallet that supports multiple cryptocurrencies (including BTC) and NFT (called BNT) minted on the Satoshi Vision (SV) network. The wallet is also planned to support the BTC NFT, which is cast on the Ordinals protocol, and provide corresponding display and trading capabilities. No functionality has yet been launched to support the Ordinals protocol.

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Twetch

Twetch is a "Play to Earn" social network built on top of BSVS, allowing users to earn money by Posting content. The platform also includes an NFT marketplace, a BSV wallet, and several other features such as chat capabilities and workboards. With the rise of the Ordinals agreement, Twetch has also come to support BTC NFT and now they intend to integrate the Ordinals ecosystem into their infrastructure.

Twetch has also cast a series of NFT's called Planetary Ordinals on the Bitcoin blockchain through the Ordinals protocol, which are all planet-themed works of art.

Ordinals Market

Ordinals Market is an open and decentralized platform on which anyone can post their work or collect the work of others. Ordinals Market also supports third-party application and service access to provide even more functionality and experience. Ordinals Market allows users to buy or sell BTC NFT with ETH, as well as browse and collect a variety of interesting and unique works. TwelveFold by Yuga Labs is on Ordinals Market.

Linked to the verified Opensea list through Emblem Vault, a protocol that allows NFT to trade easily between different chains, Ordinals Market offers users access to all legitimate Bitcoin Punk NFT, To avoid being cheated.

openordex.org

OpenOrdex is a decentralized trading platform Ordinals. Created by community developer Oren Yomtov, Openordex is a geek project with a very hardcore UI style. Basic functions such as Collection display have been developed successively. openordex's centralized order book is based on the previously popular Web3 communication protocol Nostr.

The current version of openordex supports only the buying and selling operations on the cli client (node client command line window) and Sparrow Wallet client.

NFT Project  

TwelveFold

TwelveFold, a Bitcoin NFT project from Yuga Labs, is a collection of 300 unique pieces of generative art. The works were created by the team using 3D modeling and algorithmic construction and high-end rendering tools, with 3D and hand-drawn elements, all stored in a 12x12 grid positioning 12 base art system. TwelveFold uses the Ordinals protocol to carve each piece into a certain number of satoshis on the Bitcoin blockchain, making them immutable and permanent.

TwelveFold opened its auction on March 4, 2023, and closed within 24 hours, raising $16.5 million. The auction is a blind auction, in which participants cannot see how much others have bid, only their current ranking. The highest bid is 10BTC and the lowest bid is 0.01BTC. After the auction, the first 288 successful bidders will receive their purchased works, which can be displayed or traded on the Xverse platform.

Bitcoin Rocks

Bitcoin Rocks is a tribute to the earlier Ethereum NFT series. This is a project that created 1,000 different RockNFT based on the Ordinals protocol, each Rock having its own number and shape, which have tamper-proof on the Bitcoin chain. The project also plans to launch more Rock series and features in the future to provide more options and fun for players. The project is open for trading on the Ordinals Market and has already attracted many collectors.

Ordinal Punks

Ordinal Punks is an exclusive collection that pays homage to the CryptoPunks, one of the original Ethereum NFT series. In homage to the CryptoPunks, Ordinal Punks is a collection based on the BTC NFT, they are a figure figure (PFP) collection, available in 100 different styles. Ordinal Punks, cast in the first 650 inscriptions of Bitcoin, is a 192 192 pixel image created using an open source algorithm by anonymous Web3 creator FlowStay. Since Bitcoin's infrastructure requires users to operate a full Bitcoin node to make the inscription, Ordinal Punks' bids and inquiries are made on a Google table run by FlowStay, and the community is essentially using the project creator as a moderator on Discord. dingaling purchased seven Ordinal Punks at a cost of 211 ETH.

Bitcoin Punks

Bitcoin Punks is an NFT project modeled after the CryptoPunks on Ethereum, with a total of 10,000 different 8-bit pixel style avatars, each with unique attributes and scarcity. Bitcoin Punks were minted under the Ordinals agreement on February 9, 2023 and are traded on platforms such as Opensea.

Bitcoin Punks was the first project to successfully upload the original Ethereum CryptoPunks to the bitcoin blockchain using Ordinals, with all assets already minted for free by collectors. According to its development team, which is checking the hash value of every image uploaded to Ordinals and comparing it to the original 10,000 Crypto Punk images, the link to Bitcoin Punks must be the first inscription to appear, It must also contain the corresponding hash value on the Ordinals protocol.

In addition to the more well-known or interesting Bitcoin NFT projects mentioned above, there are a number of other types or smaller Bitcoin NFT projects:

Chainspace:

An NFT project, founded by Loot core member Tim Shel, consists of 800 video rendering applications stored in the Bitcoin network that allow users to self-photograph, generate gm emojis for selfies, identity expression and community interaction using preset filters representing different crypto community aesthetics. Chainspace is also the first cross-chain pure on-chain NFT project, supporting bitcoin, Ethereum, Wave Field and other on-chain assets.

On The Edge Of Oblivion: On the edge of oblivion:

Is an NFT project linking ETH NFT and Bitcoin NFT, with a total of 555 works. The project, created by Web3 developer nullish, enabled the bridge between ETH NFT and BTC NFT through Emblem Vault for trading on platforms such as Opensea.

Bitcoin Beats:

This is an NFT project made up of Bitcoin musicians and producers who aim to create and distribute original music works through the Bitcoin network. The project utilizes the EigenLayer protocol to store audio files in the Bitcoin network and generates NFT through the Ordinals protocol. Bitcoin Beats also supports cross-chain NFT transactions, allowing users to buy or sell NFT music using Bitcoin or other cryptocurrencies.

Bitcoin Stories:

NFT, a project of Bitcoin enthusiasts and writers, aims to create and share original storytelling works through the Bitcoin network. The project utilizes the EigenLayer protocol to store text files in the Bitcoin network and generates NFT through the Ordinals protocol. Bitcoin Stories also supports cross-chain NFT trading, allowing users to buy or sell NFT stories using Bitcoin or other cryptocurrencies.

Bitcoin Art Gallery:

Is a platform for displaying and trading Bitcoin NFT art, run by a community of bitcoin artists and enthusiasts. The platform features NFT art in a variety of styles and themes, including abstract, realistic, conceptual, digital and more.

conclusion

As more and more NFT projects are announced to be cast on the bitcoin chain based on Ordinals, there are concerns that recording irreplaceable data on the blockchain could lead to inflation, and there are those who see the popularity of the Ordinals protocol as a positive catalyst that will drive more development of the blockchain. For investors, it is possible to keep an eye on the trading opportunities of high-value scarce NFT with "genesis" properties such as the BTC NFT mentioned above, and on the fresh narrative of other blockchains similar to the Bitcoin network introducing Ordinals. But at the same time, we should also pay attention to the risk that after the short-term boom, speculators will leave and asset prices will fall.

This article is from submissions and does not represent the views of BlockBeats.  

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