BTC NFT: A Bull Market Breakout Worth Noticing

Why Focus on BTC NFT? Why focus on BTC NFT? This is the first question we need to explore. Every bull market brings new narratives. In this bull market, BTC has become the focus of much attention. With the improvement of BTC main chain protocols (such as Ordinals, Runes, and other standards), users can now efficiently issue fungible tokens (FT) and non-fungible tokens (NFT) on the BTC main chain. The type of projects suitable for development on the BTC main chain depends on the fundamental characteristics of BTC:

1. Slow;
2. High gas;
3. Strong consensus.

Since BTC is a slow chain with relatively high transaction gas fees, high-frequency trading activities may not be suitable for the BTC chain. Given that BTC is the blockchain with the strongest consensus in the world, it is very suitable for high-value individual items, namely NFTs. BTC's NFTs have been born with a geeky gene: directly inscribed on the satoshis (stored on-chain), anyone can view them, and no one can tamper with them. Through recursive inscription technology, they present rich details in a minimalist way and with a small amount of data. They first emerged in the technical geek community and have rapidly developed and innovated while most institutions have yet to realize their potential, with the topic's popularity continuously rising. NFTs, as another major class of assets corresponding to FTs, are likely to experience a new round of explosion during the 2024-2025 bull market. Once the NFT market explodes, BTC's NFTs may reach or even exceed the market value of Ethereum NFTs during the 2021 bull market. Therefore, we can look for potential projects in BTC NFTs at this stage when these potential seeds are sprouting and make reasonable planning and layout in advance. Which BTC NFTs to Focus On? After observation, some BTC NFT projects have maintained a position in the top 20 of trading rankings for two to three consecutive months and have relatively high prices. These projects are often referred to as blue-chip NFTs. Once a blue-chip project in a certain track shows a clear trend, selecting investment targets becomes relatively simple: just invest in these market-validated blue-chip NFTs. This strategy can reduce the complexity of selection and rely on the potential explosion of these leading projects to achieve unexpected returns. Among the top ten projects by trading volume on OKX in the past seven days, after excluding all Pre-Rune projects, I will list the projects I observed that may become blue-chip NFTs and provide a brief summary of each NFT. NodeMonkes It took just over two months from its inception to become a top 3 NFT project by market cap. The Dutch auction started on December 23, 2023, and was sold out at 0.04 BTC, with a total of 10,000 pieces, of which 80% were used for the Dutch auction, 10% for the community, contributors, and developers, and the remaining 10% reserved. The founders, Nodetoshi and Monketoshi, are rumored to be the "operators" of RSIC. Nodetoshi is also one of the three members of the Ordinals founding team. "Strong background." Bitcoin Puppets The second generation of puppets, with a total of 10,000 pieces, all issued by the Puppets artist, airdropped or free-minted, has built a strong community due to its unique image style. "Strong community." O.P.I.U.M As the first generation work of Puppets, there are only 777 pieces. Although its trading volume mostly hovers around the 10-20 range, its OG attributes, stable prices, and the wealth effect created by the previous whitelist (1 O.P.I.U.M could obtain 5 Bitcoin Puppets whitelists) all qualify it to be included in the blue-chip observation list. Rune Pups The official website states that it has no relation to O.P.I.U.M and Bitcoin Puppets, but its design style is very similar to Puppets, and it has a related memecoin ($PUPS). Quantum Cats An NFT collection of 3,333 cats launched by the well-known Bitcoin project Taproot Wizards, largely benefiting from the industry influence and traffic of Taproot Wizards, giving Quantum Cats significant popularity and a strong background. Technically, it employs recursive inscriptions, pre-signed transactions, symmetric encryption, and other technologies. Additionally, Quantum Cats uses "evolutionary inscriptions," with the inscription cost alone amounting to $66,000, and a single NFT priced at up to 0.1 BTC, selling out during the whitelist and public sale phases, with the team earning $12.8 million. Blob It has garnered attention due to its technology and star lineup, with a team including: Ordinals core code contributor Eloc, Cypherpunk Labs team, and Ordinals artist Nuro. Technically, Blob's images are generated by recursive code, reflecting the team's pursuit of technology. Additionally, the epic sat from the fourth halving block in history was auctioned by the Blob team for 33.3 BTC and inscribed with Blob-related videos (a bit cool), as well as etched with the rune EPIC•EPIC•EPIC•EPIC. "Wealthy and technical." Epic sat address: https://www.ord.io/70634325 Bitcoin Frogs The first NFT in the Ordinals NFT field to have its price speculated, once the BTC NFT dragon one, although the floor price has dropped from a peak of around 0.4 BTC to about 0.06 BTC (an 85% drop), it seems to have a bit of a fading glory feeling, but Frogs still hold certain commemorative significance and OG attributes. The above is my own summary of the track and projects. Even after relatively rational analysis, the investment risks in NFTs remain high, DYOR. Note: Due to the significant price fluctuations of NFTs, I will use BTCBot.pro to place limit buy orders for NFTs, bidding on NFT collections, and automatically buying when prices drop. This can better control the purchase cost.