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Bitcoin NFTs Cast A Spell On Collectors
Today, there are over 3,500 NFTs on Bitcoin that have been inscribed, a 5X growth in a week.
The Metadata
February 06, 2023
GM. Let's get right into it.
Today we cover:
Market Update: Checks go parabolic
Bitcoin NFTs cast a spell on collectors
Today's Coolest tweets
New Project Corner
Market Update: Checks Go Parabolic
Jack Butcher's Checks continue to suck liquidity out of other NFT collections, rising to a floor price of 2.1 ETH and market cap of $55M+ over the weekend.
Riding on the trend, prominent anon art collection Vincent Van Dough (VVD) released his own Pepe Checks collection on Sunday, selling out 237,000+ NFTs at $6.90 each. This netted him a cool $1.6M in less than 24 hours. No one knows if its a just a derivative, or if there is something else in the works for this...but many are trusting VVD to do something interesting.
Bitcoin NFTs Cast A Spell On Collectors
💲 What to know: Last Monday, we talked about the rise of Bitcoin NFTs with the launch of the new Ordinals protocol. At that time, just a few hundred NFTs were inscribed. Today, there are over 3,500 NFTs on Bitcoin that have been inscribed, a 5X growth in a week.
Two things caught our eye:
Taproot Wizards
Ordinal Punks
☘️ In the weeds: Taproot Wizards launched by making the news — mining the largest block and largest transaction in Bitcoin's history. This was a 3.92 MB block (blocksize limit on Bitcoin is 4MB).
It's a project by Udi Wertheimer, a well-known Bitcoiner and thought leader in the space. There's not a lot known yet, except that 6 wizards have been minted so far and given out to early supporters. Details of the project are expected to go live soon. The best way to keep in touch with them is on Discord and Twitter.
honestly i'm so pumped to share more of the @TaprootWizards art that we're working on very soon
i just looked at some upcoming ones and they're SICK
we're having the time of our lives here broskis this is so much fun
— Udi Wertheimer (@udiWertheimer)
1:58 AM • Feb 6, 2023
Ordinal Punks was the first major collection to be inscribed on Bitcoin, with all of its collection of 100 punks within the first 650 transcriptions. Ordinal Punks is pretty much a derivative of the original CryptoPunks on Ethereum: same same but different. There's no roadmap.
Ordinal Punks minted out at 0.01 BTC each, yet already has a highest sale of 1.1 BTC ($25,000). Pretty wild.
🤑 Why it matters: Bitcoiners finally get to have some fun with NFTs, and they are showing it.
No one knows if this is just a fleeting trend, or if Bitcoin NFTs are going to become a real thing. It comes down to whether people are going to build actual interesting and innovative things using Bitcoin NFTs. Some people think that early Bitcoin NFTs will become historical relics — we think there is some merit in that argument.
Meanwhile, it's the wild wild west out there. Have fun but remember to stay safe.
(FYI there's a thread just below on how to get started in Bitcoin NFTs, if you're wondering)
Today's Coolest Tweets
🐥 TL;dr on the Ryan Carson & Flux investor drama
Let's talk about Ryan Carson and Flux.
Quick thread and everything you need to know about today’s NFT Twitter drama 🧵👇
(1/18)
— wale.swoosh 🐳 (@waleswoosh)
8:33 AM • Feb 4, 2023
🐥 How to get started in Bitcoin NFTs
Want to get into #Ordinals? Some tips
- Follow and read @rodarmor@pourteaux
- Set up electrum bitcoin wallet, and create a brand new, never expiring address for each ordinal you want to receive. Do NOT use a wallet with BTC in there or on an exchange.
1/— dazza9.eth 🇦🇺🔮 (@dazza9x)
5:58 AM • Feb 3, 2023
🐥 Sneakyninjapants rugs Momentum. Don't trust anon people.
1/12 Somewhat of a strange day has happend within momentum that we never thought would happen.
This post is to give clarity to all the holders and potential new holders 👇🧵
— Momentum (@MomentumNFT_)
10:13 AM • Feb 4, 2023
🐥 Podcast NFTs are a thing now
Podcast NFTs are selling for somewhere around $600 to $1600 per episode as collectibles, equivalent to 40k-100k listens at a $15 CPM.
Not to mention the fact that most podcasters don't monetize their shows; NFTs can be a viable option for indie podcasters.
— Li Jin (@ljin18)
2:56 AM • Feb 6, 2023
🐥 Growth in Manifold users
The growth in @manifoldxyz users is pretty insane. Congrats to @richerd and team on building a valuable product that so many people want to use.
(and I'm happy you decided to charge a small fee! good products *should* make money or we wont keep getting good products)
— NFTstatistics.eth (@punk9059)
11:53 PM • Feb 3, 2023
🐥 Starbucks NFT are going for thousands of dollars
the price floor for the first Starbucks NFT is $2000. Let that sink in @punk9059
— silv.eth (@mattsilv)
8:56 PM • Feb 3, 2023
🐥 Blur bidding pools reach ATH in liquidity
Since launch Blur has become one of the most used protocols on Ethereum.
Today, Blur Bidding Pools have reached a new ATH of $39.2m TVL.
This is just the beginning!
— Blur (@blur_io)
1:30 AM • Feb 4, 2023
New Projects Corner
🍿 (Game) How to earn butter in the Bakery
If you are new to @thebakerygg or not fully optimized how to earn butter, here is infographic about how you can earn butter!
Another alpha: just chill in the break-room and maybe head bakers will bless you with some butter 🧈
— Bram$ (@NFT_Brams)
3:34 AM • Feb 3, 2023
🍿 (Collectible) New project to follow
We’re excited to announce our first backer - thingsflow
The well-known software company in South Korea that focuses on developing AI chatbot application.
HelloBot Achievements
- 4.5m users
- $7m of annual revenue
- DAU 50k users, MAU 900k users
- No.1 entertainment chatbot— Hellobot Universe Official (@hellobot_NFT)
2:14 PM • Jan 31, 2023
🍿 (Membership) Members get an airdrop from @bongdoe, a talented Glitch artist
The future of Web3 begins today. Inside of your very own aquarium. 🎣
Our public mint is LIVE—with a max mint of 3 NFTs per wallet.
Mint Website: mint.somethingfishy.io
— Something’s Fishy (@SOMETHlNGFlSHY)
3:07 PM • Feb 5, 2023
🍿 (Art) Free mint that could also get you a Tesla
Art meets game theory.
Free mint:
1,200 initial supply of generative circuits.Each circuit could grant the holder ownership of a brand new #Tesla Model 3 ($50K USDC alternative award.)
Do you want an allowlist spot?
Link in next Tweet.— BLOKPAX (@Blokpax)
6:18 PM • Feb 4, 2023
🍿 (Art) On-chain free mint
- 100% on-chain.
- Interactive.
- Curatable.
- Evolves in unpredictable fashion.
- Supports interoperability.Free to mint. Soon 👀
— int art (@intartNFT)
1:46 AM • Jan 31, 2023
That's it for today folks, see you tomorrow. If you want more, follow us on Twitter (@the_metadata). And if you aren't already a subscriber, join us now to get all the daily alpha you need.
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Disclaimer: This newsletter is for educational purposes only. None of this is financial or investment advice. It is not a solicitation to buy or sell any assets. Minting and buying NFTs is risky. Please do your own research.