After raising $100 million in oversubscription for the Bitcoin Cats IDO, which other Bitcoin blockchain gaming projects are worth paying attention to?

Author: flowie, ChainCatcher

After the boom of NFTs in the Bitcoin ecosystem, the enthusiasm for the Bitcoin ecosystem is spreading towards gaming applications and narratives.

On December 19, BakerySwap, an AMM and NFT exchange on the BNB Chain, announced that its first BRC IDO project, the Bitcoin chain game Bitcoin Cats, completed a 150x oversubscription in the IDO, with 37,383 ETH, 70 million BAKE, and other tokens participating in this IDO, totaling 106 million USDT.

Subsequently, Bitcoin Cats opened trading for its 1CAT token on Ethereum at 16:00 on December 20, with an opening increase of over 15 times, currently priced at $0.007. According to Lookonchain monitoring, the first address to purchase the token at opening spent 603.13 ETH (approximately $1.33 million) to buy 413.89 million 1CAT, and then sold 3.892 1CAT for 759 ETH (approximately $1.68 million), earning 156 ETH (approximately $345,000) in just 15 minutes. Bitcoin Cats also stated that due to congestion on the Bitcoin network, it initially launched 1CAT on Ethereum, and will distribute tokens on the Bitcoin network in the coming days.

The popularity of Bitcoin Cats has also significantly boosted the price of BakerySwap's BAKE token, which once broke $0.38, with a 24-hour increase of over 50%. Today, BakerySwap also announced the second phase of its Launchpad project, which will only support participation using BAKE and 1CAT tokens. BAKE responded by surging past $0.45, with a 24-hour increase of over 24%, currently priced at $0.42.

The wealth creation myth of Bitcoin Cats has triggered on-chain FOMO. Can BakerySwap replicate the "wealth creation myth" with its upcoming IDO? Will Bitcoin Cats drive the gaming boom in the Bitcoin network? What other Bitcoin chain game projects are worth paying attention to?

Can Bitcoin Cats raise $100 million, and can BakerySwap replicate the IDO "wealth creation myth"?

BakerySwap is a well-established AMM and NFT exchange on the BNB Chain, founded in 2020, and received investment from the "Binance $100 million seed fund" in April 2021. The 150x oversubscription of Bitcoin Cats' IDO has brought a successful start to BakerySwap's layout in the Bitcoin ecosystem.

As BakerySwap's first BRC track IDO project, Bitcoin Cats has gained significant attention by leveraging the narrative of "Bitcoin ecosystem + chain games + NFTs." From Bitcoin Cats' X platform, it has been present on the X platform since August 2021, and only officially announced the launch of the Bitcoin ecosystem game Bitcoin Cats on December 6. Currently, its X platform follower count has surpassed 170,000, and its Telegram group has over 16,000 fans.

From the information on its official website, Bitcoin Cats positions itself as a GameFi platform within the Bitcoin ecosystem, mapping Bitcoin assets (BRC20, Ordinals NFT, etc.) to Ethereum (and other Layer 2) networks. Bitcoin Cats will bring various gameplay options such as Play2Earn, Stake, Farmland, and SocialFi to Bitcoin assets. The overall style is cartoon pixel art.

The $1CAT, which surged over 15 times at launch, is the native token of the Bitcoin Cats game ecosystem, initially inscribed on Bitcoin, with some bridged/wrapped to Ethereum. $1CAT can be used to purchase and upgrade in-game assets, including avatars, pets, equipment, etc. The total supply of $1CAT is 10 billion, with 20% allocated to Launchpad, 20% for liquidity, 15% for the team, and 45% for user game rewards. Currently, Bitcoin Cats has opened trading for $1CAT on Ethereum and stated that it will soon open trading for $1CAT on the Bitcoin ecosystem. The trading platform Bitget announced that it will launch the $1CAT/USDT trading pair on December 21 at 11:00 UTC.

Additionally, Bitcoin Cats stated that $1CAT could also be a meme coin, featuring a super cute cat as its logo.

Bitcoin Cats has also launched Bitcoin Cats NFTs, which consist of a collection of 10,000 pixelated cat artworks inscribed on Ordinals. Currently, users can qualify for Bitcoin Cats NFTs by staking 1CAT tokens. The "game metaverse" and "FRAMLAND" gameplay entrances displayed on the Bitcoin Cat official website are not yet open.

After the IDO, Bitcoin Cats' roadmap indicates that it will first launch a plan to stake 1CAT to obtain whitelist spots, followed by the release of the first 3D metaverse game.

Bitcoin Cats also stated that it will regularly airdrop whitelist spots and game assets. Players need to randomly download pixel cat images from the official website according to their needs and upload them to social media as avatars, etc.

The popularity of Bitcoin Cats and 1CAT, in addition to leveraging the narrative boom of the Bitcoin ecosystem, is also inseparable from the collaborative win-win with multiple platforms like BakerySwap.

BakerySwap had already announced in November that it would prepare for the bull market, discover hundred-fold projects, provide high-quality liquidity for NFTs and GameFi assets, and expand the Bitcoin ecosystem. In this IDO, participants could use not only ETH but also BAKE and tokens from the Bakery ecosystem. The 150x oversubscription of the first IDO has achieved a win-win for both BakerySwap and Bitcoin Cats. The price of the BAKE token also surged over 50%.

In addition to BakerySwap, Bitcoin Cats has also collaborated with the IDO platform Turtsat, which focuses on the Bitcoin ecosystem. Previously, Turtsat has launched several BRC20 projects such as asset protocol CHAX, BRC20 cross-chain bridge MUBI, and Ordinals aggregation platform NHUB, all of which performed well after launch. Turtsat is also seen as a wealth creation IDO platform.

Following the success of the Bitcoin Cats IDO, who will be the next IDO project for BakerySwap, and can it replicate the wealth creation myth to become a wealth creation IDO platform similar to Turtsat?

This afternoon, BakerySwap announced the second phase of its BRC track Launchpad project, which will only support participation using BAKE and 1CAT tokens. BAKE surged past $0.45, with a 24-hour increase of over 24%, currently priced at $0.42.

Will Bitcoin Cats ignite the narrative of Bitcoin chain games? What other projects are worth paying attention to?

Bitcoin Cats claims to be "the first chain game in the Bitcoin ecosystem," indeed occupying a high narrative position and attracting the attention of many crypto users. IDO platforms like BakerySwap have also clearly stated that the focus in this bull market is on the Bitcoin ecosystem, GameFi, and NFTs.

The success of BakerySwap and Bitcoin Cats in this IDO may attract more IDO platforms and Bitcoin chain game projects to promote the narrative of Bitcoin chain games and create wealth creation myths. In addition to Bitcoin Cats, several other Bitcoin chain game narrative projects have emerged, which may be worth paying attention to in advance.

ORDZ GAMES: Claims to be the first chain game in the Bitcoin ecosystem, planning to launch IDO on Alexlab soon.

ORDZ GAMES, which also claims to be the first chain game in the Bitcoin ecosystem, launched earlier than Bitcoin Cats. It went live in March this year and has conducted two rounds of free mint and BRC20 token rewards.

The first game of ORDZ GAMES is a tank battle, and the project team has successively launched a series of mini-games like "Sheep Game" and spaceship games. Users can access the game by opening the inscription details through the inscription browser. Players earn points by playing games and can exchange them for tokens. Currently, ORDZ GAMES' official X platform has over 48,000 followers, and the official Discord community has attracted over 10,000 members.

ORDZ GAMES recently announced on its X platform that its token code has changed from $OG to $ORDG. The total supply of ORDG is 21 million, which can be exchanged at a 1:1 ratio with $OG. The snapshot of current wallets holding $OG will be taken at 9 PM Hong Kong time on December 26, and $ORDG will be available for collection on http://ordz.games starting January 5, 2024.

In addition, ORDZ GAMES plans to launch IDO in the coming weeks, collaborating with the Stacks ecosystem's Alexlab protocol. The Alexlab community plans to hold a community vote on December 23, and if the vote passes, the $ORDG token will become the first game token issued on the Alex Launchpad.

Bitmap: Claims to be the first metaverse project in the Bitcoin ecosystem, with the BRC-420 protocol gaining popularity.

Bitmap claims to be the first metaverse project in the Bitcoin ecosystem, proposed by Twitter user @blockamoto on June 13, 2023, built on the foundations of Ordinals theory and Bitmap theory, primarily selling virtual land.

Shortly after its launch, Bitmap achieved a 440% increase in sales over seven days. The floor price recently hit a new high after months of stagnation, breaking 0.007 BTC, more than ten times the price from August this year. Currently, the number of holding addresses for Bitmap has exceeded 30,000, and its NFT market value has surpassed the combined market value of The Sandbox's LAND and Otherside's Otherdeed.

Recently, the BRC-420 protocol based on Bitmap asset protocol has also gained popularity, focusing on the metaverse and games by combining multiple inscriptions into a complex asset, creating various assets ranging from small characters and pets to complete game scripts and virtual machines.

The first asset of the BRC-420 protocol, the blue box, was issued on September 14, with a total of 10,000 units and a mint price of 0.1u. The current floor price has surpassed 23,000 U, and the astonishing increase for holders has triggered on-chain FOMO, with the BIRU Solana red box being crazily sought after due to its comparison with the BRC-420 blue box.

Dark City: Claims to be the first multiplayer role-playing game on Bitcoin.

Dark City is the first MMORPG based on Bitcoin, establishing an open world using multiple protocols including Bitmap, Ordinals, and TA. Currently, Dark City has over 6,600 followers on the X platform.

In Dark City, players can act as hackers, establish a futuristic cult, or become the CEO of their own crime empire. Players can own Bitmap-based land to build gangs, houses, companies, and religious cults. Each area and plot has a series of features and token rewards.

The native token of Dark City, DRK, has a total supply of 1 million, released on the Bitcoin network. Dark City's NFT series includes bio scans and chipsets, sold on MagicEden, with a floor price of 0.0004 BTC and 2,100 holders.

BTC PixelWars: Claims to be the first fully on-chain multiplayer game in the Bitcoin ecosystem.

BTC PixelWars launched in November, deployed on Ordinals, claiming to be the first fully on-chain multiplayer game in the Bitcoin ecosystem. Currently, BTC PixelWars has over 5,900 followers on the X platform.

In BTC PixelWars, players can submit individual pixels on a shared canvas to collectively create a work of art. Each time a pixel is placed, players will earn 10 $BPIX tokens and receive rewards in Bitcoin ecosystem NFTs.

Pixel Wars consists of 2.1 million pixels, each priced at 0.000033 BTC. The total supply of BPIX is 21 million, but currently, only over 200,000 pixels have been submitted.

Rabbit: Claims to be the first chain game platform in the Bitcoin ecosystem.

According to its official website, Rabbit claims to be a gaming platform in the Bitcoin ecosystem, dedicated to providing users with a safe, scalable, and excellent online gaming experience. The Rabbit platform features multiple games, including Block Game, Space Dominion, Rainbow Garden Adventure, and Realm Awakening. Rabbit currently has 86,000 followers on the X platform.

The total issuance of the Rabbit token Rait is 10 billion (with 7 billion directly destroyed), resulting in an actual total of 3 billion. Rait is also an IDO project on Turtsat. Currently, the price of Rait is around $0.003, with a 24-hour trading volume of over $11 million.

Conclusion

Compared to inscriptions, chain games require a longer development time and community operation to present convincing content. Currently, Bitcoin ecosystem chain games are still more focused on the conceptual stage of the "Bitcoin ecosystem" narrative, and related concept tokens seem more like meme coins.

In the future, with the development of various Layer 2 and sidechain infrastructures in the Bitcoin ecosystem, it is worth looking forward to whether high-quality, application-value chain games can truly emerge.