ordinals

For the next 10 days, I’m going to be dropping threads on the current state of ordinals, starting today with the Pre-Runes projects 🧵

BizDev /poap (was POAP guy at /farcon), Co-Founder Blockchain Beach, Bitcoin Ordinals investor since Feb ‘23 

With the Bitcoin halving rapidly approaching, I’m starting with Runes related collections, so that you all have time to place your bets on this space. I also believe that we may see a dip in Ordinals over the next 2 weeks, as people start to collect liquidity. As always, not financial advice and do your own research!

What is Runes? Runes are the fungible tokens (think memecoins or other tokens) protocol that is being launched by the same dev who built the Ordinals protocol, Casey Rodamor. Currently, BRC-20 is the leading token standard on Bitcoin, but it’s not the best experience and has congested the chain at times.

Casey took it upon himself to create a better protocol, which he has promised to release on the same block as the BTC halving. This thread will dig into the leading “Pre-Rune” collections that will allow for airdrop or claim of Runes post-halving.

1. RSIC

The RSIC “miners” were airdropped for free to holders of early ordinal collections. Some say this was a “fair drop,” while others claim it only went to “whales.” Once activated, these inscriptions started accumulating points to the wallet that held them.

RSICs could be sold at any time (floor got as high as around .15 BTC) and the accumulated points stay with the wallet. Any future points would be accumulated by the new buyer. These points will be airdropped as the RSIC token once Runes are live.

Much debate has happened on the game theory for when you should or shouldn’t sell a RSIC and whether it will continue to have utility after the halving. The one thing that is known is that 15% of the total rune supply will be raffled off to holders who hold through the halving.

2. Runestone

A response to RSIC from an early fudder, Runestone was billed as the true fair drop, going for free to any wallet that held at least 3 inscriptions on Bitcoin block 826,600, approximately one year after Ordinals launched.

Of course, many whales hold inscriptions in multiple wallets, so many received more than one Runestone. We do not yet know what a Runestone earns each holder, but the project aims to be the largest memecoin on Bitcoin.

3. The Guardian Runes

Another free airdrop, Guardian Runes has three mining tiers, Keepers, Sentinels, and Guardians. Keepers were airdropped, Sentinels were gifted and/or sold to holders with 2+ Keepers, and Sentinels given to founders and influencers from other major Ordinals projects.

They are currently in the midst of “Chapter 2” where they are offering incentives to current holders in anticipation of the release of their v2 collection.

4. Rune Mania Miner

Yet again, a free airdrop! Rune Mania features the most sophisticated mining dashboard website compared to the other projects (others just have an API into your Ordiscan page).

They are also getting prepared for their Phase 2 mint, which will be airdropped to holders and then sold via collabs with other projects and to the public.

5. RuneX

RuneX began as a Discord “mining” game of sorts where players can deposit Bitcoin to act as insurance/liquidity. Each day, players can enter the channel and claim “honour” which will eventually be given out as Runes.

Later, they airdropped a Secret Weapon collection that has continued to morph into some kind of map and key game.

There are also a number of others, like Tiny Vikings, Runes as Fuck, Rune Pups Genesis Runes, DERPS, Rune Totem, PNGS Igloos, Elemental Runes, Game of Blocks, Rune Gods, and Glyphs. It is pretty unclear what value these will all have. However, you never know what is going to win and it’s often the stupidest one!

Again, not financial advice and do your own research. Let me know if you have any questions!

Yesterday I posted my thread on the Pre-Runes. Today starts a series on projects that have taken the early lead in becoming the “Blue Chip” collections of Ordinals. I’m starting with the project that I use as my pfp, Quantum Cats from the Taproot Wizards. As always, not financial advice and do your own research!

Day 2 write up on Quantum Cats/Taproot Wizards can be found here:

Day 2 write up on Quantum Cats/Taproot Wizards can be found here: https://warpcast.com/evangreenberg/0xcde366e2

Yesterday was the Quantum Cats/Taproot Wizards. Today, Ordinal Maxi Biz (OMB) is an early project from ZK_shark. It is currently a 4 part collection, consisting of 100 red, 100 blue, 1,900 green, and ~3,100 orange eyes drawn on black/white faces & images. I find the collection visually visceral. As always, NFA and DYOR

Day 3 is Ordinal Maxi Biz (OMB)! https://warpcast.com/evangreenberg/0xa98b4e5b

Day 4! Nodemonkes catapulted onto the scene at the end of 2023, with a fun website for their traits and claiming to be the first 10K sized collection in Ordinals. Collections, like Bitcoin Frogs, had been released earlier, but Nodemonkes were inscribed to the chain earlier. They also sported a fun slogan: SEND NODES.

Nodemonkes for Day 4! https://warpcast.com/evangreenberg/0x68adae65

For Day 5, it’s now time to explore the world of uofreetepuppel, the artist behind the Bitcoin Puppets. This launched onto the scene with O.P.I.U.M. or Ord Puppet Inu Undoxxed Millionaires. 

As always, not financial advice and do your own research!

Bitcoin Puppets day 5! https://warpcast.com/evangreenberg/0xfc7642b3

Day 6 is Bitcoin Frogs! For those who truly lived through “Ordinals are Dead” period of 2023, Bitcoin Frogs were the top collection. With a dedicated community of people saying “Ribbit” and the highest floor price/volume, the Frogs walked, so the Nodemonkes & Puppets could run. Not financial advice and DYOR!

Bitcoin Frogs on day 6 Ribbit! https://warpcast.com/evangreenberg/0x3e950f4b

It’s day 7 of these threads and not all collections are native to Bitcoin. There have been a few collections that have gone multi-chain, with a few different stories. First up is Punks! 

Not financial advice and do your own research 🧵:

Day 7 was multi-chain collections, like Bitcoin Punks and BTC DeGods

Day 7 was multi-chain collections, like Bitcoin Punks and BTC DeGods https://warpcast.com/evangreenberg/0xa9c30ff4

Day 8! Although a few projects have solidified themselves as the early leaders, there are many other strong communities that were launched early on Ordinals. Owning these collections allows for special access in Discord to raffles, alpha, and sometimes airdrops. Not financial advice and do your own research 🧵:

Day 8: the other OG collections https://warpcast.com/evangreenberg/0xe29a1d67

Art on Bitcoin for Day 9! Bitcoin is an immutable ledger, so of course Art should be a major part of Ordinals. Learn more about the true artists of Bitcoin (not financial advice and do your own research) 🧵

Day 9 is the Art of Bitcoin https://warpcast.com/evangreenberg/0x820c6a27

We’re here on day 10, the final day of this series on Ordinals (unless I add a bonus thread 👀! There are a few collections that have dropped recently that have potential to become a lasting force. It’s still too early to tell, but at least good to look at. Not financial advice and do your own research 🧵:

Day 10! What’s new in Ordinals? https://warpcast.com/evangreenberg/0x36dca122

For 10 days I wrote about the collections and Runes of Ordinals, but how do you actually acquire them? Not financial advice and do your own research! Here are a few ways – bonus mini 🧵:

Mini bonus thread! https://warpcast.com/evangreenberg/0x87155866

Though of one more thing for Ordinals enjooooyers — the mempool! On mempool.space, you can see the current transaction costs and/or track your current transactions. Learn the mempool!

Also the mempool! https://warpcast.com/evangreenberg/0xc64558a9