BRC-20 and Rune, China and foreign countries do not accept each other? |Rune + NFT Observation 0605

24-06-05 14:19
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At the beginning of the article, let's talk about a phenomenon that has been discussed recently and has made me deeply understand it again recently:


BRC-20 and Runes, China and foreign countries do not accept each other?


It is very obvious that the BRC-20 $PIZZA airdrop organized by UniSat has been hotly discussed in the Chinese community. I think everyone should have a feeling of "Back To Old School" - Excel order books, double bets, a large number of WeChat group discussions and rapid price increases, dreaming of last year's inscription bull market.


And what about Runes? It's not that there are no Chinese people playing, for example, JOKER•RUNES•COIN is a very obvious Chinese-driven Rune project.


From this shill tweet picture compiled by @shin_raton, we can see these familiar styles. And, non-original meme content.



This is very interesting. Different regions and cultures reflect different investment preferences. JOKER•RUNES•COIN has more than 6,000 holding addresses, while according to satosea.xyz data, there are only 36 runes with more than 5,000 holding addresses among the vast number of runes.


The large number of holding addresses is definitely one of the most important factors for Chinese people to judge whether BRC-20/runes are worth playing. In contrast, foreigners will rush to some targets with high quality and large number of original meme content but small number of holding addresses. For example, the 100x gold dog CATS•IN•THE•SATS has only over 2,000 addresses holding it, which makes many Chinese people lose interest.


Some people think that foreigners did not participate in $PIZZA because they are not used to OTC, but I don’t think so. Because whether it was when $TAP was played last year, many foreigners participated in OTC, or the mature foreign NFT whitelist OTC market, it can be proved that foreigners are not unwilling to play OTC. Don’t forget that the earliest Bitcoin Rocks was also sold by Excel order book.


BRC-20 and Rune do not connect with each other. First of all, there is a cultural gap. Chinese memes are difficult to attract foreigners, and even memes that foreigners think can attract Chinese people are difficult to achieve results. For example, $MOUTAI, which was once very popular on Solana, is obviously something that Chinese people understand. Foreigners in the community are eagerly looking forward to it, but in the end, they are still foreigners...


And foreigners not using WeChat also objectively eliminates many possibilities for mutual communication. I often say that if a foreigner does not join 50 WeChat groups to intensively explore the Chinese Crypto culture, they will not be able to truly understand the Chinese community.


There is no competition and no takeover, only the regret that you and I cannot attract each other. However, this regret has also promoted the diversity of the Crypto ecosystem to some extent.


After the discussion, let's continue to observe the project.



Observation of New NFT Projects


Zentry



Zentry @ZentryHQ was formerly the famous Web3 game community guild GuildFi. They upgraded their brand in April this year and upgraded the overall narrative to create a "super game layer", including games, diversified IPs and various related infrastructures.


Not long ago, the project just announced the completion of a new round of strategic financing. Investors include The Spartan Group, LongHash Ventures, Synergis, DWF Labs, 9gagceo, dingaling, etc. also participated as angel investors. Before this round of financing, Zentry's investor lineup already included Binance Labs, Coinbase Ventures, Pantera Capital, Dapper Labs and Animoca Brands. Currently, Zentry has more than $150 million in funds in its vault, which is terrifying.


What we know now is that Zentry will have an NFT series, but details such as which chain it will be issued on, the total supply and the minting price have not yet been disclosed.


Cosmic



Cosmic @CosmicOnBase is the first "MEME404" project and will be issued on the Base network. Wait... What is MEME404? I am also in the dark for the time being and need to wait for more gameplay details to be disclosed.


The known information is that the project will not have pre-sales, there will be no "KOL round", and the main theme is fair and open. In addition to revealing this, the founder @TheSmarmyBum also revealed that in his tweet in early May that he would do something on Base, we can also see that Base protocol head Jesse Pollak and Bennie both appeared in the comment section.


Bad Egg



Behind Bad Egg @BadEggCompany is a London-based entertainment company Toikido, whose business covers IP licensing, games, music and entertainment. In their latest tweet, they mentioned that they had incubated the Pokémon, Toy Story, and Among Us franchises. Tokido also made toys for VeeFriends, and Gary Vaynerchuk is their investor.


No further valid information has been disclosed at this time.


Goat Gaming



GOAT Gaming @playgoatgaming is an integrated application layer game infrastructure built for studios and players. They are creating a platform with built-in proprietary technology to solve the problems that prevent good games from becoming great games. The project claims that this will be a hub for hundreds of PvP games with a competitive player community at its core.


No more valid information has been disclosed at this time.


Create Layer



Create Layer @createlayer aims to integrate the various important steps in the creator's creation into a chain-composable module, providing creators with a simple and fast chain infrastructure.


The project will be launched on the Base network, and no more valid information has been disclosed.


Rune Observation


The legend of $DOG continues, and we finally see the first rune to rank in the top 100 of CoinMarketCap's total market value.



A total market value of $1 billion is just around the corner, and I believe this is just the beginning of the entire rune ecosystem.


Blob's EPIC•EPIC•EPIC•EPIC is getting more and more attention, and a tweet from Binance has made those who are looking forward to it excited:


The first two avatars have Blob's iconic exploding eye meme, and the third one is OMB, who has helped the Epic Cong auction and has a good relationship with Blob


Looking back at the daily list of rune new listings, COOK•THE•MEMPOOL still firmly occupies the top spot. At present, the number of addresses holding this rune has exceeded 10,000. According to the floor price on Magic Eden, the cost of new listings is about 13 sats/vb.


As we said before, rune new listings are largely a mining fee math game. There are about 10 days left until COOK•THE•MEMPOOL ends its minting. If the chain can be congested in the last few days due to the approaching deadline, then the profit space of 13 sats/vb will emerge.


We will wait and see the lively rune ecosystem.


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