SVARGA: Reshaping NFTs on the Bitcoin Network

Author: SVARGA

As the market's anticipation for the BTC ETF continues to heat up, BTC has surpassed the $40,000 mark and is pushing towards new highs for the year. Meanwhile, the trading of BTC Ordinals has remained active, buoyed by the rise in BTC prices: according to data from Dune Analytics, on December 3, the daily trading volume on mainstream platforms for Bitcoin Ordinals inscriptions rose to approximately $15.94 million, a more than 200% increase from the recent low of $4.94 million on November 26.

Since the inception of Bitcoin Ordinals inscriptions, there have been numerous doubts—such as the lack of smart contracts and high transaction gas fees—yet these concerns have not dampened the enthusiasm of the Ordinals community. The development of Ordinals is akin to the journey of Bitcoin itself: what doesn't kill you only makes you stronger.

In this context, SVARGA, as a new experiment on the Bitcoin network's Ordinals, has attracted widespread attention. SVARGA, like the term "Avatar" commonly used in the metaverse, originates from Hinduism, meaning "the land where gods reside." SVARGA is not just a simple NFT issuance project on Ordinals; it depicts a new direction in the NFT space—transforming traditional PFP NFTs into more interactive and personalized Avatars.

Avatar assets: Pioneering a new dimension for NFTs

SVARGA has created unique Avatar assets for over 170,000 PFP NFTs, spanning multiple public chains including Ethereum, Solana, and BTC Ordinals. Each Avatar asset corresponds directly to a PFP NFT, serving as a deep extension of traditional PFP NFTs, while also acting as a user's avatar in the metaverse, providing a richer and more interactive digital experience.

Technological innovation: From Metadata to animated avatars

Unlike traditional NFT projects, SVARGA employs a unique approach to create these avatars. First, designers collect metadata information from diverse data sources to ensure the uniqueness of each NFT is reflected. Then, using this information, designers create full-body representations that match the original NFT images and convert them into Spine skeletal animations. This method not only enhances the visual appeal of the NFTs but also increases their interactivity and range of applications.

A new identity in the metaverse: Beyond the boundaries of gaming

SVARGA's Avatar assets serve not only as new digital assets but also play a role in various blockchain games and metaverse platforms. From gaming to social interactions, these avatars provide users with a new way to express and experience their digital identities. As the community continues to expand, more games and applications are expected to be integrated into the SVARGA ecosystem.

Value capture of $SVGA

Bored Ape Yacht Club can be considered a benchmark in the Ethereum space and the entire PFP NFT era, with Yuga Labs as its driving force, establishing PFP as the mainstream trend in the NFT market. So where is the next opportunity for NFTs? Yuga Labs has already pointed the way—metaverse + blockchain games. However, the lack of widespread 3D devices and high entry costs have hindered scalability. SVARGA aims to take a different approach: by introducing the new paradigm of "PFP + $SVGA = Avatar," it seeks to create a truly new "metaverse + blockchain game" experience that belongs to the entire NFT community, bringing new vitality to the entire digital asset ecosystem.

A brand new BRC-20 staking method: Secure, trustless, and minimizing gas consumption

As the first project on Bitcoin Ordinals, SVARGA not only provides a new model for the development of Ordinals NFTs but also pioneers a new staking method for BRC-20. The absence of smart contracts on the BTC network has led to slow development of the BRC-20 DeFi ecosystem—even though the community has proposed protocols like BRC-30 to expand staking methods. The reasons for this situation are mainly twofold: 1. The lack of smart contracts makes it impossible to achieve trustlessness during the staking process, requiring users to transfer BRC-20 out of their wallets, creating a trust gap that is hard to bridge. 2. The mechanism of BRC-20 requires two steps for token transfer: "inscription" and "transfer inscription," and the high gas fees on the Bitcoin network deter even trusted third-party users from staking due to the high costs.

To address this, SVARGA has launched a new staking solution: users do not need to transfer their $SVGA holdings; they only need to maintain a wallet balance greater than their set amount to be considered as staking. Upon completion of staking, users will receive an Avatar WhiteList. The Avatar WhiteList serves as a fungible certificate within the same series of NFTs, allowing holders to inscribe corresponding Avatar assets. Throughout the entire process, users' assets remain in their wallets, addressing security and trust issues; additionally, users only interact on-chain when inscribing new assets (Avatar assets), significantly reducing transaction friction.

$SVGA: A value catcher opening a new chapter in BTC NFT narratives

The Avatar assets provided by SVARGA offer new possibilities for user interaction in the metaverse, making SVARGA an important player in the metaverse space and providing unique ecological value for $SVGA holders. As more applications and games join the SVARGA ecosystem, the market potential for $SVGA is expected to grow further. Through continuous interaction with developers, artists, and users, SVARGA is building a diverse and sustainable ecosystem. This long-term community and ecosystem building provides a solid foundation for the long-term value and market position of the SVARGA project, making $SVGA a value catcher for the entire ecosystem.

In the future, there will be no islands

At the intersection of digital assets and the metaverse, the Avatar assets created by SVARGA are not just a new form of NFT expression; they also usher in a new era of interoperability between cross-chain games and metaverse platforms. The future digital world will no longer be isolated islands but a vast ecosystem that is interconnected and mutually beneficial.

SVARGA's Avatar assets, as avatars for users in this expansive digital universe, will serve as bridges across different blockchain games and metaverse platforms. Whether on the Bitcoin network, Ethereum, or other public chains, these Avatar assets will grant users a new identity, allowing them to navigate seamlessly between various virtual worlds and enjoy diverse gaming and social experiences.

This cross-platform identity and asset flow not only greatly enhances the utility and interactivity of NFTs but also brings unprecedented connectivity and dynamism to the entire digital asset space. With SVARGA's efforts, we will witness the birth of a more open and interconnected digital world, a truly boundary-less metaverse. Perhaps, SVARGA is the key to unlocking this island-free digital world.