Bitcoin NFT Eco Utility at a glance

On February 28, Yuga Labs announced that it will be launching the NFT TwelveFold collection on the Bitcoin blockchain later this week based on the Ordinal protocol, which will contain 300 limited edition generative works of art. Yuga Labs co-founder Greg Solano went out of his way to emphasize that while TwelveFold is the opposite of what Yuga Labs had in mind, Yuga Labs is excited about the Ordinal Inscription and the future of Bitcoin digital art.

As the most influential studio in Ethereum NFT ecosystem, Yuga Labs' decision once again triggered the boom of bitcoin network NFT. In order to make everyone better participate in Bitcoin NFT ecosystem, BlockBeats will present the main tool of Bitcoin NFT ecosystem. Including wallets, coins and trading platforms are sorted as follows.

Ecological Wallet  

Ordinals Wallet

Ordinals Protocol Ecowallet, a web wallet and inscription browser developed specifically for Ordinals. In addition to the basic wallet functions, it also supports Bitcoin NFT inscription browsing, retrieval, Collection uploading and other functions. It is still being updated.

In addition, Ordinals Wallet recently conducted a 1,563 NFT airdrop called Pixel Pepes, which users could obtain with a single transaction in their wallet, but the airdrop has now ended.

Hiro Wallet

Hiro Wallet is a Bitcoin based wallet application that currently supports Ordinals, but not the Lightning network.

It is worth noting that Hiro Wallet, as a bitcoin ecological Wallet, has many convenient built-in functions. Users can directly use credit cards, debit cards or even bank transfers to purchase STX within Hiro Wallet, and then directly participate in the pledge within the wallet.

The wallet currently supports browser extensions for Chrome, Firefox, Brave, and desktop versions for MacOS, Windows, and Linux.

Xverse

Xverse, a Stack-based bitcoin unmanaged wallet, has added the ability to display the Ordinals inscription. Meanwhile, Xverse has realized the transfer support for Ordinals in yesterday's update. According to the official account information, relevant functions are still being improved.

Casting tool

Gamma.io

Stacks NFT Marketplace Gamma, formerly known as STXNFT, changed its name to Gamma on April 27, 2022. Gamma is the third letter of the Greek alphabet for the third phase of the Web: Web 1.0, Web 2.0, and now Web3.

The platform is designed to bring collectors, creators and investors together in the Bitcoin ecosystem to explore, trade and showcase NFT. The Gamma platform consists of three core products: the NFT Marketplace, Launchpad, and the social platform. Gama. io supports both the primary and secondary markets for Bitcoin NFT.

Users can use Gamma bot to cast their own unique digital works, save them, or sell them. Users can use the code-free Bitcoin NFT creation tool to create in minutes. Gama.io solves the pain points of creating NFT on the Bitcoin network that are technical, complex, and time-consuming. However, the secondary market still accounts for the majority of platform sales. Each sale includes royalties for the artist as well as marketing commissions, with percentages varying by artist and collection.

Ordinals Bot

Ordinals Bot is a casting COINS on Ordinals agreement NFT tools, founded by @ satoshibleshttps://twitter.com/satoshibles team. The tool eliminates the need to run bitcoin nodes while a Bitcoin NFT is being minted.

Casting process:

· Upload the files [jpg,.webp,.png,.gif,.txt,.mp3,.mp4(h264), etc.] and click Submit

· Foundry fees are paid through Lightning network or regular network. The fee is 0.00025 BTC + 10% network fee per file, although the network fee itself is also paid by the user.

· Casting will be carried out after the transfer is completed

· If the user provides the NFT receiving address, the NFT will be automatically sent to the user

Note: If the user does not provide the NFT receive address, the Ordinals Bot will hold the inscription for it until the user sets it up. Once the user has set up the wallet, simply access the order checking tool to add the address and receive the NFT.

In addition, recently launched a new batch.sats name inscription tool:https://ordinalsbot.com/sats-namesSimply add a name per line and the Ordinals Bot adds the necessary attributes for them.

Trading platform

generative.xyz

NFT platform of generative art on the Bitcoin chain is similar to similar products on Ethereum. The website effect is very gorgeous. It has not been established for a long time, but it has already listed AI works of many artists.

The primary protocol testing network went online on January 31st, and the test network ERC-20 Token GEN was launched synchronously. The team claims that this Token can be converted into the Token of the future main network. Users can earn GEN rewards by uploading artwork, finding bugs, helping promote, and more.

openordex.org

Ordinals decentralized trading platform, a geek project created by Oren Yomtov, a developer from the community, with a very hardcore UI style, has developed Collection display and other basic functions. It is worth mentioning that, openordex's centralized order book is based on the previously popular Web3 communication protocol Nostr.

The current version of openordex only supports buying and selling operations on the Bitcoin cli client (the node client command line window) and the Sparrow Wallet client (the official preferred wallet).

Emblem Vault

Emblem Vault, a Web3 tool, brings Bitcoin NFT to the Ethereum main network by encapsulating it, enabling Bitcoin NFT to be traded directly over OpenSea.

To put it simply, Emblem Vault assumed the role of "custodian" -- handing them bitcoin NFT, obtaining custody certificates that could be traded on Ethereum's main network, against which the corresponding NFT would be claimed.

The seller used Emblem Vault to Mint a "Vault Vault" NFT and transfer the NFT to be sold to a Bitcoin network address designated by Emblem Vault. The "Vault Vault" NFT will be displayed on OpenSea with a cover image and description set by the vendor when an asset is detected to be deposited at the Bitcoin network address.

For now, Emblem Vault can use assets from Bitcoin, Ethereum, XDai, Polygon and BSC networks.

Ordswap

Ordswap is a Ordinals marketplace and wallet built on the Bitcoin network on which ordinals inscriptions can be minted, bought and sold.

The overall UI and user experience of Ordswap is not much different from that of the existing mature NFT market of Ethereum ecology. In view of the limited activity of the digital art of BTC network and the high price of BTC, Few current digital artworks on the Ordswap market sell for more than 0.1BTC.

Scarce.City

Supply.city is a digital goods auction trading platform using BTC bidding, launched by Chris Tramount and Aryan Jabbari with the help of Chiefmonkey, founder Emeritus.

Scarce.City makes bids, auctions and payments through an instant, anonymous, low-fee lightning network and bitcoin master chain. The variety of goods traded includes digital art, virtual land, virtual goods, NFT, and more.

Participants are required to bid at a markup during the auction, with the highest bidder winning the auction. The platform makes auction participants liable by pledging 5% of the bid.

User flow

1. 出价人存入出价的一小部分作为抵押品。 

2. The winning bidder pays its final bid within 5 minutes of the closing of the auction. If the winning bidder fails to pay within five minutes, they lose their deposit and the next highest bidder has the opportunity to pay their highest bid.  

3. After the final bid is paid, the Platform will return the deposit to the remaining participants.

Ordyswap

Ordyswap was also created to implement bitcoin Ordinal NFT's trading capabilities. Specifically, Ordyswap allows anyone to submit a quote for a particular Ordinal NFT. To create the offer, the submitter needs to lock in enough STX tokens and specify the bitcoin address with a specific serial number NFT that it wishes to purchase.

If the holder of the Ordinal NFT accepts the offer, the Ordinal NFT is automatically sent to the offering party and STX is automatically paid to the seller of the NFT. The whole process is based solely on on-chain transactions without any centralized escrow process involved.

Ordyswap is still in the proof-of-concept stage. The transaction experience of Ordyswap is so primitive that it can only exist as an experimental project. However, Ordyswap shows the great potential of the Bitcoin community.

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