The inscription has three characteristics: fair launch, full circulation, and making the most of small gains.
It seems that the craze for inscriptions has indeed set off a storm in the crypto circle. In the past two weeks, we have been doing interviews and summaries of various blockchain game projects in 2023, but interestingly, more than one boss complained to me that team members were rushing to inscriptions and no one was willing to work at ease. With a little pressure, young employees resigned to concentrate on inscriptions... This situation made me smile bitterly and sigh, as if overnight, inscriptions became the focus of everyone's attention.
The W Labs work group has been dominated by the topic of inscriptions. Even the MOD recruitment with a fixed monthly salary plus NFT airdrops did not attract much interest. This was a position that everyone was fighting for a few months ago. Compared with the already hot field of blockchain games, the charm of inscriptions seems to be even stronger, attracting people's attention.
Of course, I am also rushing in. When the bull market comes, I will first put myself in a position to invest, and then study, which can cure laziness. This article is just about my personal opinion, which is pure nonsense and does not provide any investment advice at all.
1. What is so special about the inscription?
Inscriptions do have the characteristics of fair launch, full circulation, and small-scale investment for users. However, these characteristics have gradually weakened with the hype effect that Inscriptions has recently brought among web3 users.
First of all, the concept of fair launch was most evident in the Ordi batch of inscriptions in the first half of this year. However, with the emergence of the latest inscription projects, the team may adopt unified time release and batch robots to break the concept of fair launch, which may be a manifestation of human nature.
Secondly, the feature of full circulation also faces challenges. An inscription was recently released, in which 50% of the supply was used for staking in defi and gamefi, which created a situation that restricted circulation.
Third, risking a small fortune originally meant obtaining high returns at a very low cost, but now the gas fee has skyrocketed, and the cost of an inscription may be as high as $20-30. When you invest $3,000 at one time but cannot obtain an inscription in the index, this situation leads to the risk of high investment costs but possible loss of returns.
Finally, whether it is preparing robots in advance or cooperating with OTC merchants to hype, can these practices be regarded as the behavior of the project party?
Second, will inscriptions continue to be popular in this bull market?
In a word, yes. It seems that the popularity of inscriptions has not yet reached the level of craziness of the last wave of NFT icons and the last ICO craze. Inscriptions are the only new asset type in this bull market, and there will be many interesting development stories in the future. Old miners in the crypto circle seem to be unanimously pursuing the continued rise of Gas, which is for their own benefit, so they will fully support WEB3.
For future inscription projects, here are some ideas for your reference:
Looking for innovative inscription projects that can be integrated into the Web3 application field, which not only have meme attributes but also have practical application value;
Be cautious in the short term, as high gas fees may cause you trouble unless you are an insider of the project and understand the subsequent plans. Pay attention to projects that are expected to be listed in the short term, and you can even buy them in the secondary market (WGGDAO Guatian Community VIP channel summarizes some projects);
Pay attention to some of the old inscriptions, there may be new funds entering, such as BRC20's OXBT and Deed, which have recently increased by 4-5 times. After fundamental research, they represent different types. OXBT is a previously high-profile project with 16,000 holders, a high degree of consensus, and has experienced a long bottom accumulation phase; while Deed is a project with a smaller market value, and even small funds can influence the control of the market.
3. Finally, let me summarize my personal views on the future of inscriptions
Seizing the first wave of opportunities to get rich is a thing of the past. Don’t just pursue becoming the next Satoshi Nakamoto or ORDI. Similar myths of getting rich quickly may continue to appear in the market, but in fact, these are just eye-catching news spread by market makers and have little to do with ordinary investors.
However, the second wave of opportunities still exists, but the multiples may not be as high. For example, projects like the one mentioned above that release a lot of liquidity. When ORDI was launched on the Gate exchange, the price once rose to 29U, and large investors could only ship it at 20U over the counter, but now it can be easily traded on exchanges such as Binance and Okex. Therefore, it is worth paying attention to the expected inscriptions on the strong exchange, you know.
The most important thing is to find the first project that can truly empower inscriptions, whether it is in DeFi, GameFi, SocialFi or other categories, an application project that can incorporate inscriptions into its economic or business model. W Labs has been researching for nearly two months and has achieved some results. We hope to communicate more with friends who have new ideas in this field. Any inscription project that can make a breakthrough in this regard may be the next ORDI, SATS or RATS.
