BRC-20 and runes, are they not taking over each other?

Author: Cookie

At the beginning of the article, let's talk about a phenomenon that has been frequently discussed lately and has given me profound insights once again:

BRC -20 and Runes, No Mutual Exchange Between China and the West?

It is very clear that the BRC -20 $ PIZZA airdrop organized by UniSat has sparked heated discussions in the Chinese community. I believe everyone should have a sense of "Back To Old School"—Excel order books, double bets, extensive discussions in WeChat groups, and rapid price increases, reminiscent of last year's inscription bull market.

And what about Runes? It's not that there are no Chinese involved; for example, JOKER • RUNES • COIN is a very obvious Chinese-driven rune project.

From the shill tweet chart organized by @shin_raton, we can see these familiar writing styles and non-original meme content.

This is interesting; different regions and cultures reflect different investment preferences. JOKER • RUNES • COIN has over 6000 holding addresses, while according to data from satosea.xyz, among the vast runes, only 36 runes have more than 5000 holding addresses.

The number of holding addresses is definitely one of the most important factors for the Chinese to judge whether BRC -20/Runes are worth playing. In contrast, foreigners tend to chase some original meme content that is of high quality and quantity but has fewer holding addresses. For example, CATS • IN • THE • SATS, a hundred-fold golden dog, has just over 2000 holding addresses, which makes many Chinese lose interest.

Some voices suggest that foreigners did not participate in $ PIZZA because they are not accustomed to OTC, but I don't think so. Because whether it was during last year's $ TAP when many foreigners participated in OTC, or the mature foreign NFT whitelist OTC market, it proves that foreigners do engage in OTC. Let's not forget that the earliest Bitcoin Rocks were also sold through Excel order books.

The lack of mutual exchange between BRC -20 and Runes is primarily due to some cultural gaps; Chinese memes are hard to attract foreigners, while memes that foreigners believe can attract Chinese may also fail to achieve results. For instance, the once-popular $ MOUTAI on Solana, which is something that Chinese people understand, had foreigners in the community eagerly awaiting, but in the end, it was still played by foreigners…

Moreover, the fact that foreigners do not use WeChat objectively eliminates many possibilities for mutual communication. I often say that if a foreigner does not join 50 WeChat groups to intensely explore the crypto culture of the Chinese, they cannot truly understand the Chinese community.

There is no mutual competition with a strong sense of rivalry, only the regret that you and I cannot attract each other. However, this regret has, to some extent, promoted the diversity of the crypto ecosystem.

Having finished the discussion, let's continue to observe the projects.

NFT New Project Observation

Zentry

Zentry @ZentryHQ is the predecessor of the famous Web3 gaming community guild GuildFi. They underwent a brand upgrade in April this year, elevating the overall narrative to create a "super gaming layer," encompassing games, diversified IP, and various related infrastructure.

Not long ago, the project announced that it had completed a new round of strategic financing, with investors including The Spartan Group, LongHash Ventures, Synergis, DWF Labs, 9gagceo, and dingaling participating as angel investors. Before this round of financing, Zentry's investor lineup already included Binance Labs, Coinbase Ventures, Pantera Capital, Dapper Labs, and Animoca Brands. Currently, Zentry's treasury holds over $150 million in funds, which is quite impressive.

What we know so far is that Zentry will have an NFT series, but details such as which chain it will be issued on, total supply, and minting price have not yet been disclosed.

Cosmic

Cosmic @CosmicOnBase is the first "MEME404" project, which will be issued on the Base network. Wait… what is MEME404? I'm also in the dark for now and need to wait for more gameplay details to be disclosed.

What is known is that the project will not have a presale, nor will there be a "KOL round," focusing on fairness and transparency. The founder @TheSmarmyBum revealed this point, and in his tweet from early May announcing plans to do something on Base, we can also see Base protocol leaders Jesse Pollak and Bennie appearing in the comments.

Bad Egg

Bad Egg @ Bad Egg Company is backed by Toikido, an entertainment company based in London, whose business includes IP licensing, gaming, music, and entertainment. In their latest tweet, they mentioned having previously incubated franchises for Pokémon, Toy Story, and Among Us. Toikido has also produced toys for VeeFriends, with Gary Vaynerchuk as one of their investors.

Currently, no more effective information has been disclosed.

Goat Gaming

GOAT Gaming @playgoatgaming is an integrated application layer gaming infrastructure designed for studios and players. They are creating a platform with built-in proprietary technology to solve the challenges that prevent good games from becoming great. The project claims this will be a hub for hundreds of PvP games, centered around a competitive player community.

Currently, no more effective information has been disclosed.

Create Layer

Create Layer @createlayer aims to integrate various important steps in the creator's work into on-chain composable modules, providing creators with simple and efficient on-chain infrastructure.

The project will launch on the Base network, and besides that, no more effective information has been disclosed.

Rune Observation

The legend of $ DOG continues, and we have finally seen the first rune to enter the top 100 by market capitalization on CoinMarketCap.

With a total market capitalization of nearly $1 billion, I believe this is just the beginning of the entire rune ecosystem.

Blob's EPIC • EPIC • EPIC • EPIC is receiving increasing attention, and a tweet from Binance has excited the expectant crowd:

The first two avatars feature Blob's iconic explosive eye meme, while the third one also supports the epic auction and has a good relationship with Blob.

Looking back at the daily rune new listing leaderboard, COOK • THE • MEMPOOL still firmly occupies the top spot. Currently, the number of holding addresses for this rune has surpassed 10,000, and based on the floor price on Magic Eden, the estimated minting cost is about 13 sats/vb.

As we mentioned before, rune minting is largely a mathematical game of miner fees. Currently, there are about 10 days left until the end of COOK • THE • MEMPOOL's minting. If on-chain congestion occurs in the last few days due to the approaching deadline, then the profit margin of 13 sats/vb will emerge.

In the lively rune ecosystem, we are looking forward to what comes next.