⚓️ what are ordinals?

and we pour one out for EtherOrcs

Feb 09, 2023

gm.

so this is cool…I have some allow list spots to give away today. my buddy ATown is hooking up BivNFT readers as he preps to drop a project in March called The Grumbies:

it’ll be an official OpenSea drop…and I’m gifting a spot to each of the first (5) readers who reply to this email with their wallet address.

go fast! (but also please continue reading)

ALPHA ⚓️

bitcoin NFTs

BitMEX Research @BitMEXResearch

Ordinals Data Up until 7 February 2023, we have identified: * Over 13,000 Ordinals transactions * 526MB of Bitcoin blockspace usage * 6.77 BTC of Ordinals related spend

blog.bitmex.comOrdinals Data | BitMEX BlogAbstract: Recently usage of “Ordinals”, a system where one can embed image data into the Bitcoin blockchain has increased. In this brief piece, based on blockchain data, we analyse the growth of the Ordinals system. Up until 7 February 2023, we have identified over 13,000 of these transactions, whic…

the NFT excavatooors are back.

remember when Gary Vee was going through old Ethereum projects and buying them because they were “historical” NFTs?

well…this week, BitMex found something that definitely has Gary kicking himself…Bitcoin NFTs.

yes apparently, he was looking on the wrong chain, because not only it is *possible* to have Bitcoin NFTs, it was actually done…in the form of Ordinals.

in 2017, some sad sacks spent 6.77 BTC on these Ordinals. while it’s not buying pizza with Bitcoin bad, it certainly has to hurt to know you spend ~$120K in today’s value on the *wrong* JPGs.

luckily for Ordinal holders though, there has been *some* resurgence with this rediscovery. as you can imagine all the NFT archeologists have come out of the woodwork to ape into these wizards and other Ordinal NFTs.

I’ll continue to do research for us and see if these indeed catch on…but honestly, my brain is already at capacity with a lot of other *dumb* information (on NFTs in particular).

I in good faith can’t commit any more space in there for the whole world of Bitcoin NFTs.

so maybe I’ll just continue to obliviously live in the world where CryptoPunks is the only major historical NFT project.

BETA ⚓️

RIP EtherOrcs

poof @poof_eth

After much contemplation, we have made the difficult decision of halting new development of EtherOrcs... 🧵

let’s pour one out for EtherOrcs.

you’ll hear no FUD from me. the decision by poof and the team to pull the plug on the project is more than warranted. they were one of the space’s first (and most successful) free mints…before that was even the cool thing to do.

with limited resources, sometimes it just makes *more* sense to focus your attention elsewhere. (couldn’t be me, I’m still writing this newsletter for free).

the EtherOrcs crew did some great building in their time…both with the game and their community…who I feel the worst for right now. they were diehards and the price floor has tanked in wake of this news.

while handled with a lot of thought…it’s still hard to see what *exactly* the future holds for this now CC0’ed project. hoping it pulls through and the community can take on the continued success of this project…but it doesn’t look great.

EtherOrcs might just become yet another relic of an NFT past cycle.

building an empire

OpenSea @opensea

OpenSea is now an aggregator to the Seaport ecosystem! Starting today, we will begin an experimental program to aggregate listings from marketplaces & projects built on top of Seaport — starting with @ensvision, @sansaxyz, & @soundxyz_ !

yay for supporting indie marketplaces.

while Opensea may have a monopoly (though Blur is on its butt), they are still a kind and generous (market) leader.

they’ll now start aggregating 3 marketplaces with a very particular focus into their OpenSea UI…Sansa for Art Blocks, ENS Vision for domains, and SoundXYZ for music NFTs.

step aside OpenSea and let the experts handle it from here…I for one can’t wait to tell them about Pokemon ENS.