As a cryptographic token that can represent a unique digital or physical asset, NFT is unique and irreplaceable on the blockchain. NFT has been developed on smart contract platforms such as Ethereum for many years, and many famous projects and applications have been born. 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.

In order to solve this problem, a protocol called Ordinals was officially launched on December 14, 2022. It takes advantage of the technical features of Segregated Witness (SegWit) and Taproot3 on the Bitcoin network to achieve direct minting and transfer on the Bitcoin chain. and destroy the NFT. The Ordinals protocol numbers the smallest unit (Satoshi) in each Bitcoin and links it with a metadata to form a unique and traceable NFT. The Ordinals protocol does not require any centralization or trusting parties to participate, nor does it need to rely on any Layer2 or side chain solutions. 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 spawned a series of projects and applications based on the protocol. According to ChainCatcher, over 300,000 NFTs have been minted on the Ordinals protocol and continue to grow. Previous veDAO Research Institute article https://panewslab.com/zh/articledetails/d6rlbh0xot7w.html

It brings an introduction to BTC NFT and some methods of obtaining it, as well as an explanation of the related ecology. In this article, veDAO Research Institute will further review and interpret projects in the BTC NFT ecosystem.

casting

Ordinals Bot

Ordinals Bot is a tool for minting Bitcoin NFTs on the Ordinals protocol, created by the Satoshibles team, the founders of Ordinals. This tool eliminates the need for users to run a Bitcoin node when minting Bitcoin NFTs.

After the user enters the official website and uploads the file, he or she pays the casting fee through the lightning network or regular network, and the casting is carried out after the transfer is completed. If the user provides an NFT receiving address, the NFT will be automatically sent to the user; if the user does not provide an NFT receiving address, Ordinals Bot will retain the inscription for it until the user sets it up. Once a user has set up their wallet, they can simply access the order checker tool to add an address and receive NFTs.

Gamma.io

Gamma, the NFT market on Stacks, was originally named STXNFT. On April 27, 2022, it was announced that it would be renamed Gamma. The platform is designed to bring collectors, creators, and investors together to explore, trade, and showcase NFTs within the Bitcoin ecosystem. The Gamma platform consists of three core products: NFT market, Launchpad and social platform. Gamma.io supports both primary and secondary markets for Bitcoin NFTs.

Gamma.io provides a casting method called Gamma bot. Users can use the Gamma bot to mint their own unique digital creations to collect or sell. Users can mint NFTs with simple commands, requiring no coding or technical knowledge: just add the Gamma bot on Discord and enter commands like create to create an NFT. Gamma.io also launched a .btc domain name marketplace, allowing users to have their own decentralized identity and website. Register, buy, sell and transfer .btc domains on Gamma.io, and tie them to your own NFT.

wallet

Wallet Ordinals

Ordinals Wallet is a browser-based wallet used to send and receive BTC NFT on the Ordinals protocol. In addition to basic wallet functions, it also supports Bitcoin NFT inscription browsing, retrieval, Collection upload and other functions. It has a high degree of completion. Currently, It is still being updated, including improving transmission efficiency, UI optimization, reading wallet balance and other functions under development.

In addition, Ordinals Wallet also conducted an NFT airdrop called Pixel Pepes on February 28, with a total of 1,563 pieces. Users only need to perform a transaction in the wallet to obtain the airdrop, but the airdrop has now ended.

Sparrow Wallet

Sparrow Wallet is an open source wallet based on Bitcoin that supports multiple transaction types and hardware devices. Sparrow Wallet also supports the Ordinals protocol, which is highly recommended by the creators of Ordinals. Users can use Sparrow Wallet to receive, manage and transfer BTC NFTs. Users can also use Sparrow Wallet to create NFT, as long as they have a Taproot (P2TR) account and operate on some websites that support ordinals.

Sparrow Wallet engraves some data (such as text, images or videos) into a satoshi and uses the Taproot signature scheme to ensure the integrity and non-tamperability of the data. In this way, each satoshi becomes a unique digital artwork, which is a BTC NFT.

Hiro Wallet

Hiro Wallet is a wallet developed based on the Stacks chain and is mainly used to manage STX tokens. Support for Bitcoin NFTs has already begun to be rolled out. The browser extension allows users to send Bitcoin from their Hiro wallet using the same key or hardware wallet device to manage their STX and other assets across accounts. Users can view their BTC holdings under "Balance" and also This address can be copied under "Receive" and the Taproot address used to deposit the BTC NFT will soon be displayed. As a Bitcoin ecological wallet, Hiro Wallet has many convenient built-in functions. Users can directly use credit cards or even bank transfers to purchase STX in Hiro Wallet, and then directly participate in staking in the wallet.

Currently, the wallet supports browser extensions for Chrome, Firefox, and Brave, as well as desktop versions for MacOS, Windows, and Linux systems. With support for Ordinals, users can pay for new BTC NFTs and have them deposited directly into their accounts as "collectibles" by connecting Hiro Wallet to apps like Gamma. Also share a personal gallery of BTC NFTs.

Xverse

Xverse is a Stack-based Bitcoin non-custodial wallet and one of the largest markets in the Bitcoin NFT ecosystem.

Xverse allows users to create, issue, buy and sell various types of NFTs, including artwork, music, games, domain names, etc. Xverse supports transactions using STX tokens or other cryptocurrencies (such as BTC, ETH, etc.), and also supports connection using Hiro Wallet or other wallets.

Support for the Ordinals protocol has been added to support the display of BTC NFT; at the same time, Xverse now supports transfers to Ordinals, and related functions are still being improved.

Bitcoin.com Wallet

This is a mobile wallet that supports multiple cryptocurrencies (including BTC) and NFTs (called BNT) minted on the Satoshi Vision (SV) network. The wallet also plans to support BTC NFT minted on the Ordinals protocol and provide corresponding display and transaction functions. Features supporting the Ordinals protocol have not yet been launched.

market

Twetch

Twetch is a “Play to Earn” social network built on BSV that allows users to earn money by posting content. The platform also includes an NFT marketplace, a BSV wallet, and several other features such as chat functionality and job boards. With the rise of the Ordinals protocol, Twetch has also begun supporting BTC NFTs and they currently intend to integrate the Ordinals ecosystem into their infrastructure.

Twetch is also minting a series of NFTs called Planetary Ordinals on the Bitcoin blockchain through the Ordinals protocol, which are planetary-themed works of art.

Ordinals Market

Ordinals Market is an open and decentralized platform where anyone can publish their own works or collect other people's works. Ordinals Market also supports access to third-party applications and services, providing more functions and experiences. Ordinals Market allows users to buy or sell BTC NFTs with ETH, as well as browse and collect a variety of interesting and unique works. TwelveFold by Yuga Labs is available in Ordinals Market.

Linked to a verified Opensea listing via Emblem Vault, a protocol that allows NFTs to be easily traded between different chains, Ordinals Market provides users with all legitimate Bitcoin Punk NFTs to avoid being scammed.

openordex.org

OpenOrdex is an Ordinals decentralized trading platform. It is a geek project created by Oren Yomtov, a developer from the community. The UI style is very hardcore. It has successively developed basic functions such as Collection display. It is worth mentioning that openordex’s centralized orders The book is developed based on the previously popular Web3 communication protocol Nostr.

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

NFT project

TwelveFold

TwelveFold is a Bitcoin NFT project launched by Yuga Labs and is a series of 300 unique generative art works. Created by the team using 3D modeling and algorithmic construction and high-end rendering tools, these works contain 3D and hand-drawn elements, all stored on a 12x12 grid positioned 12-base art system. TwelveFold uses the Ordinals protocol to engrave each work into a certain number of satoshis on the Bitcoin blockchain, making it immutable and permanent.

The TwelveFold auction began on March 4, 2023 and ended within 24 hours, raising a total of $16.5 million. The auction adopts a blind auction method, that is, participants cannot see how much other people have bid, but can only see their own current ranking. The maximum bid is 10BTC and the minimum bid is 0.01BTC. After the auction ends, the first 288 successful bidders will receive their purchased works and can be displayed or traded on the Xverse platform.

Bitcoin Rocks

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

Ordinal Punks

Ordinal Punks are an exclusive collection that pays homage to CryptoPunks, one of the original Ethereum NFT series. Paying homage to CryptoPunks, Ordinal Punks are a collection of BTC-based NFTs that are a collection of Persona Figures (PFP) that come in 100 different styles. Minted within the first 650 inscriptions of Bitcoin, Ordinal Punks are 192 × 192 pixel images created using an open-source algorithm from anonymous Web3 creator FlowStay. Since Bitcoin's infrastructure requires users to operate a full Bitcoin node to make inscriptions, Ordinal Punks' bids and ask orders are conducted on Google Sheets run by FlowStay, with the community essentially using the project creator as a host on Discord people. dingaling purchased 7 Ordinal Punks for 211 ETH.

Bitcoin Punks

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

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

In addition to the above several well-known or interesting Bitcoin NFT projects, there are also some other types or smaller Bitcoin NFT projects:

Chainspace：

An NFT project created by Tim Shel, a core member of Loot, includes 800 video rendering applications stored in the Bitcoin network. Users can use it to take selfies and generate selfies using preset filters that represent the aesthetic styles of different crypto communities. version of gm emoticons for identity expression and community interaction. Chainspace is also the first cross-chain pure on-chain NFT project, supporting a variety of on-chain assets such as Bitcoin, Ethereum, and TRON.

On The Edge Of Oblivion：

It is an NFT project that connects ETH NFT and Bitcoin NFT, with a total of 555 works. Created by Web3 developer nullish, the project enables bridging between ETH NFTs and BTC NFTs via Emblem Vault for trading on platforms such as Opensea.

Bitcoin Beats：

This is an NFT project formed by Bitcoin musicians and producers, aiming to create and distribute original music works through the Bitcoin network. The project utilizes the EigenLayer protocol to store audio files on the Bitcoin network and generates NFTs via the Ordinals protocol. Bitcoin Beats also supports cross-chain NFT transactions, and users can use Bitcoin or other cryptocurrencies to buy or sell NFT music works.

Bitcoin Stories：

An NFT project formed by Bitcoin enthusiasts and writers, aiming to create and share original story works through the Bitcoin network. The project utilizes the EigenLayer protocol to store text files on the Bitcoin network and generates NFTs via the Ordinals protocol. Bitcoin Stories also supports cross-chain NFT transactions, and users can use Bitcoin or other cryptocurrencies to buy or sell NFT story works.

Bitcoin Art Gallery：

It is a platform for displaying and trading Bitcoin NFT art works, operated by a community of Bitcoin artists and enthusiasts. There are NFT artworks of various styles and themes on the platform, including abstract, realistic, conceptual, digital, etc.

Conclusion

More and more NFT projects have announced that they will be minted on the Bitcoin chain based on Ordinals. Some people are worried that recording irreplaceable data on the blockchain may lead to inflation. Others believe that the popularity of the Ordinals protocol is a positive catalyst that will Promote more development of blockchain. For investors, on the one hand, they can pay attention to the trading opportunities of high-value scarce NFTs with "creation" attributes such as the above-mentioned BTC NFT, and on the other hand, they can pay attention to the fresh narratives of Ordinals introduced into other blockchains similar to the Bitcoin network. But at the same time, we should also pay attention to the risk of speculators leaving the market and asset prices falling after the short-term boom.