Dear Future Whales,
Marking the 50th Blubber Notes edition, let’s shift our focus from traditional NFTs to the trending world of Ordinals. I’ve included an in-depth look at this innovative space, spotlighting a special project and offering resources to help you grasp the essentials of Ordinals. Let's dive in!
Summary:
Ordinals - What are they?
Featured Project: The Miniatures
Ordinal Educational Resources
⁉️Ordinals - What are they?
Simple answer: An individual satoshis (SATs) within the Bitcoin blockchain that has a unique identifier and is inscribed with content up to 4MB in size and in any format type.
What gives Ordinals value?
1 Sat = 1 Sat: Every Ordinal is inscribed on a single Satoshi, the smallest unit of a Bitcoin (BTC). Although this gives them a base value, given it's a fraction of a penny, it's necessary to consider other aspects that contribute to their value.
Rarity Matters: The value of Ordinals is enhanced by their rarity. Some SATs may be linked to unique events in Bitcoin's relatively brief history. Collectors may choose Ordinals from the SATs that comprise the first-ever BTC Block reward or from the renowned BTC pizza transaction. The concept of rarity in Ordinals has been well-articulated in Zeneca's recent note.
They have Art, Utility, etc: Similar to NFTs, Ordinals can be associated with art or utility defined by their creators. The value derived from art and utility, as with most digital assets, is largely subjective
🚨Featured Project: The Miniatures
Miniatures is founded by a team boasting over 10 years experience in the space and was born from the founders' vision to bring substance to Ordinals. Projects that are focused solely on art are saturating the market and there is nothing for holders to look forward to. This team aim’s to change the game and build Miniatures as one of the first Ordinals projects with a genesis approach, roadmap and utility. They are a community-driven ecosystem of collectors, innovators and explorers who are constantly pushing the boundaries of what's possible on Ordinals and BRC-20.
Miniatures is one of the first pixel art collections to be inscribed on Block 78 Satoshis.
There is Art!
650 hand-drawn pixel miniatures with over 100 traits and 30 1/1's meticulously handcrafted by the one and only Pxlstad (Founder and Artist of Nifty Nuggets & Ordinal Geese.)
There is Utility!
The team is creating a platform on which 1/1 auctions will be held, all featuring different artists. The auctioned Ordinals will be inscribed on rare or historical satoshis (Uncommon, Block 9, Block 78,etc.) The funds generated from these auctions will be distributed to their holders.
Their vision is to provide consistent and long-term value to holders of these assets. This value will be provided through their native BRC-20 token and through proceeds generated from their auction platform.
Alpha
They plan to hold two auctions per month, with a team fully dedicated to artist outreach and management. Initially, the platform will accept BTC as payment method, but after their platform becomes more popular, they plan to implement BRC-20 token payments, which is one of the use cases of their native token.
🏫Ordinal Educational Resources:
Recommended Spaces: 2Guys1Girlsweb3 - This spaces is relatively new, yet this team does an exceptional job of enlightening their audience about Ordinals, including the top projects and resources to consider. An illustrative example of their educational content can be seen in the infographic below:
Recommended Read: Top 9 Benefits of Ordinal Inscriptions - This is the most robust, yet consolidated overview of Ordinals and the benefits that come with them.
Recommended Wallets:
UniSat Wallet - This one comes highly recommended from the team at 2Guys1Girlsweb3.
Xverse wallet - It’s simple to use and also works directly with the UniSat marketplace and Magic Eden.
💡SegMint.io - Beta News
There is still time to join the SegMin.io beta test! The official challenges start next week on July 1st. Get signed-up, get registered and let’s build this platform together!
Authored by Matt Bartlett, CAIA. Follow Matt on Twitter @MattBartlettVE
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Please note the author has invested in all NFT projects mentioned within this article.
Please note that SegMint may offer investments products that invest in the asset class(es) or industries included herein.
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