Bitcoin Alphas: Conversations with Top NFT Projects

24-05-17 17:57
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At the Runes Asia event on May 9th, I had the pleasure of hosting the first roundtable with Pizza Ninjas founder @TO, Blob co-founder @nurorealm, CyberKongz team member @HenryTheGrape, and FarmerJoe0x, who deployed $PUPS (the eponymous BRC-20 meme token for Bitcoin Puppets) to Solana. target="_blank">@FarmerJoe0x had a nearly 40-minute conversation.



In this conversation, they answered these questions:


- Pizza Ninjas successfully deployed the 14th rune "BULLISH•BITCOIN•PIZZA•NINJAS". In the future, how will this rune token be used to create a better community and even a better Bitcoin native IP?


- When did CyberKongz start considering entering the Ordinals ecosystem, and why did they choose to distribute "Prometheus" by airdropping it to the Ordinals community?


- Why did you choose to deploy $PUPS on Solana? Is it because of Solana's community or because Solana can provide better liquidity for $PUPS?


- Why did Blob decide to bid for the halved Epic Sat at the price of 33.3 bitcoins? What is the story behind it? What new gameplay is worth looking forward to?


TL;DR


- Pizza Ninjas is committed to building Bitcoin native IP. "BULLISH•BITCOIN•PIZZA•NINJAS" will be used as an ecological token to reward the community that actively participates and promotes development with the team.


- The "Prometheus" airdrop is both a tribute and a declaration to join the Ordinals ecosystem. We will continue to explore the possibility of Rune 2 DECENTRALIZED.


- Bitcoin's long block time and memory pool sniping affect the liquidity and efficiency of capital, making it difficult for real value discovery to occur. Using the Bitcoin network as the DA layer of $PUPS and Solana as the transaction layer of $PUPS, 1+1>2.


- Chinese and foreign communities have come together, and multiple Ordinals communities have also come together, and Blob finally won the epic satoshi auction. If the recursive rune passes, the Blob + epic rune may change color or shape?


BULLISH•BITCOIN•PIZZA•NINJAS, Runes, Community and IP


(Before answering the question, Trevor greeted everyone in Chinese and said that for Runes, Ordinals and Bitcoin, Hong Kong is the best and China is the best.)


Building on Ordinals has a different strategy than other chains. I think there are two directions. The first direction is the very high-end art market, targeting very high-net-worth people, like Christie's and Sotheby's, serving whales with millions or even tens of millions of dollars in assets, establishing deep relationships with them, and focusing on community building. The other direction is to face a wider "sinking market", so we need to think about how to use more gameplay and on-chain IP to create a brand, so as to make a breakthrough in social media and even the entire entertainment industry.


Pizza Ninjas takes the latter of these two directions. The final presentation of Pizza Ninjas' art is very simple, and each ninja is like a logo. We hope to help each of our holders build their own brand on the chain and fundamentally promote decentralized cooperation. The ultimate idea of doing this is to establish a solid group identity so that the entire group has a common goal and everyone works together to achieve it in a decentralized manner. The best examples are Quantum Cats and Taproot Wizards, who have a very clear goal and position - if you want to promote OP_CAT, buy a Quantum Cat. They also have a very clear plan to clarify how to promote OP_CAT.


In the last cycle, there were many attempts to commercialize IP, such as BAYC, but it was too early at the time. In the next cycle, we may see giant studios like Netflix and Disney enter. We can also begin to see that projects like Azuki and Pudgy Penguins have their own development directions, toys, animation, games, etc. I think NFT projects that focus on and are committed to IP construction will eventually succeed.


This is also the direction Pizza Ninjas is trying to explore. "BULLISH•BITCOIN•PIZZA•NINJAS" as our ecological token will be used to reward the community that actively participates and promotes development with our team.


CyberKongz and Ordinals, the story behind "Prometheus" and Rune No. 2


We entered the Ordinals ecosystem in February 2023, and in March 2023, we wanted to burn our 2D series, Genesis CyberKongz and Baby CyberKongz to Bitcoin so that they have inscription numbers less than 100K. However, we did not succeed and had to turn to the Ronin chain. Despite this, we and our Degen-filled community still pay close attention to the Ordinals ecosystem and continue to think about what we can do on Ordinals. We don't want to launch new projects aimlessly, and we don't want everyone to feel that CyberKongz is just here to grab money because Ordinals is popular.


Then, the Bitcoin halving was coming, the runes were coming, and the 3rd anniversary of our ERC-20 Token $BANANA was coming. We thought, it's time to burn something! So Prometheans was born. We don't want to extract any value from the Ordinals ecosystem, and we also respect the projects that continue to build on Ordinals, so Prometheans is a free airdrop, and through this airdrop, we show respect to the projects that continue to build, and show that we also want to join in and become part of the Ordinals family.


Originally, we thought Casey would hard code the first 10 runes, but then he didn't, and we immediately started thinking that maybe we could get a very high rune for Prometheans. Although we have built on ETH, Polygon, and Ronin, we still regard Bitcoin as the king of crypto, so although we don’t know how much it will cost to etch a top rune, and we don’t know what rune we will etch, we just want to do it, and leaving a mark on block 840,000 will definitely be of great significance.


Finally, 3 days before the halving, we decided to do the "YOLO" mission (Note: YOLO is the abbreviation of You Only Live Once, which means that people can only live once, so take risks and leave no regrets). We will do Degen with all our strength, shuttle 8 Bitcoins, and then who cares what we get in the end. We are just a bunch of Degens, not VC’s babies and owe money to no one.


Finally, we got the rune 2 DECENTRALIZED, which felt great! As for what will happen to rune 2 in the future? It is there, and no one can take it away. And runes have just begun, let us continue to explore.


The Bitcoin mainnet is difficult to adapt to professional-level transactions, making Solana the Layer 2 of Bitcoin


In general, Puppets is the most vibrant meme on Bitcoin. The Bitcoin meme is like a "mascot" belonging to our generation, and the OG-level Bitcoin "mascots" include wizards and (Trevor: Pizza!).


It is really difficult to use the Bitcoin network without smart contracts as the liquidity layer or application layer of $PUPS. Although innovations such as OP_CAT may bring some improvements in the future, there will still be problems such as Bitcoin's long block time and memory pool sniping, which will affect the liquidity and efficiency of capital, making it difficult for real value discovery to occur. It is precisely because of these problems that the Bitcoin Layer2 concept has received a lot of attention and hype, such as Merlin, Bob, and many upcoming Bitcoin Layer2 projects. However, they do not have enough users, a sufficiently complete ecosystem, and a high TPS like Solana.


There are countless tokens on Ethereum's sidechain or Layer2, and they all choose the Ethereum mainnet as the core layer of their LPs, which provides the best liquidity for these tokens. For a token like $PUPS on the Bitcoin network, it can also be understood in this way: the Bitcoin network is used as the DA layer of $PUPS, and Solana is used as the transaction layer of $PUPS. The two chains complement each other. This greatly promotes $PUPS to obtain better liquidity, more users, and faster value discovery. I really believe that the token on Bitcoin can run a market value of billions or even tens of billions of dollars, but at the same time it is hard to believe that most of the liquidity and trading activities will occur on the Bitcoin mainnet.


A friend of mine has a very interesting statement that CEX can actually be regarded as a sidechain of any chain, and it receives liquidity from any chain. For Solana and Bitcoin, it is also complementary.


$PUPS has unique reasons as a Bitcoin Token that has also been very successful on Solana. It is very popular in itself and is currently the only one with deep enough liquidity relative to its market value, some supporting marketing for value discovery, and also trying it on Solana. BRC-20 Tokens like $ORDI and $SATS have sufficient liquidity and trading activity on Ethereum, and hundreds of millions of dollars in trading volume per week on CEX. All these broader demands for Bitcoin Tokens can only be obtained from these aspects.


These are just the beginning, and we will see more exploration. I am also working on a product called London Finance, which will provide a bridge that can Warp rune assets to other chains.


There is more to EpicSatoshi than just Blobs, recursive runes will be very interesting


(Before answering the question, Nuro led everyone to do the "1,2,3 Blob!" movement. In every occasion where Nuro is a speaker, the "1,2,3 Blob!" movement is always present:)


What is Blob? Everything is Blob. Blob is fun, silly, and brings us all together. Eloc and I have spent the past year creating this project with all our heart and soul, doing everything with love.


When EpicSatoshi was about to be produced, we were waiting for the epic moment to happen at the Cypherpunk Lab in San Francisco. Dr. Jin Gou and XTB, the leaders of our Chinese community, tried to find EpicSatoshi, and the ViaBTC mining pool that mined EpicSatoshi contacted them, told them that ViaBTC also had Blob holders and asked "Do you want this EpicSatoshi?". The community got excited and worked together on this, and Dr. Golden Dog and XTB contacted me shortly afterwards to let me know that they had raised 10 Bitcoins to bid on the Epic Satoshi. We wanted to etch the Blob as a rune on the Epic Satoshi, which was very exciting.


Too bad, I thought 10 Bitcoins was not enough to win the Epic Satoshi. So we started contacting some friends like Nullish, Sanj, OMB, Boototoshi, etc. to see if they would like to join us. In less than 24 hours I made a lot of calls and raised an incredible additional ~25 Bitcoins from other top communities.


Finally we succeeded, it was like an impossible dream becoming reality. Not only did the Chinese and foreign communities come together, but also multiple Ordinals communities came together, just like the interpretation that Dr. Jin Gou created for Blob, "Bitcoiners love other Bitcoiners".


We were able to engrave some beautiful 3D dynamic and musical artwork on the Epic Satoshi to commemorate the Cypherpunks spirit - code is power. We hope that everyone will not be afraid to write code and learn it.


We also know that the community hopes that the distribution of Epic Satoshi can ensure a large enough range, and it will. As you all know, Eloc has submitted a PR for recursive runes, and we will do some interesting things, such as 1 Blob with 10 Epic Runes will trigger some events, such as maybe the Blob will change color? Or deform in an animation full of fireworks? This will be a very interesting fully on-chain experience, and Trevor also gave us some help. Epic Runes will definitely play a big role and will showcase some of the things we are creating that the community can be excited about.


The biggest charm of Runes right now is that it is like an open canvas with endless possibilities. And everything about Blob, you know, is in full swing, and it will be an epic journey.


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