The inscription ecosystem is so lively! How will the BRC20 Inscription Summer experiment evolve? What other wealth codes are waiting for us in the inscription ecosystem?

A comprehensive review of the hot spots of inscription ecology

This week, the hot topics in the inscription circle are endless. First, roup came out of nowhere, creating the order book Dex, claiming to be the first inscription with application scenarios in the Bitcoin inscription ecosystem, the concept of cross-chain inscription, the founder paid out of his own pocket to refund gas, and other hype buffs accumulated, causing the price to soar 6 times;

Then, the Ethereum protocol Odos also became the focus of attention, and someone registered the inscription on BRC20. Although the Odos project itself did not intend to issue coins, they said that if the number of BRC20 $Odos holders exceeded 1,000, then this coin would be used as the official Odos token, triggering a frenzy of buying in the market.

Subsequently, bear followed rats’ lead and soared 3 times overnight, becoming the most minted token besides $sats. Then, a variety of titles, such as protocol tokens, application tokens, L2 concept tokens, deflation tokens, etc., emerged one after another, and people were dazzled by the variety of titles.

New concepts are proposed every moment. In such a track where the wealth code is converted at a high speed, it is difficult for you to be distracted even for a second, because in the next second someone may make money on a project that you know but are not clear about. This fomo effect of not making money means losing money attracts capital to continuously flow into the inscription ecosystem, resulting in the wealth effect of brc20 spilling over to inscriptions on other chains, and even starting to establish connections with tokens.

Take the Ordinals token as an example. It was originally unrelated to the $ordi inscription, but due to the sharp rise in the inscription, the market saw the opportunity for speculation in the Ordinals token and it also rose accordingly. Another example is the hotly discussed meme coin $Grok, which was originally riding on the popularity of Elon Musk, but it was discovered that the project owner was suspected of fraud.

However, the situation is different now. Any project must first be hyped by the inscription circle before it can gain a foothold in the market. Ethereum's $Grok is not credible? Then come to BRC20, which promises a fair launch, so $Grok inscription came into being, taking over Ethereum's traffic and hyping up the dying project again, with the beautiful name of "making use of residual heat".

The An Exchange has been eager for the popularity of the inscription ecosystem for a long time. After launching the built-in web3 wallet, Orion, the son of An, released the repeater Scorpio in the eths ecosystem and released the inscription token $Scop. Everyone thought it was equivalent to the official inscription of An and it was stable. However, the official started to use robots to attack before the announcement was made. In the end, the price fell to less than 1u, and many angry users ran to attack the uppercase SCOP because the lowercase ones had been attacked by the project party.

BRC20 asset value proposition and commercial innovation

There are many different opinions on the value proposition of BRC20 assets in the market. I will summarize the main opinions as follows:

The fair launch mechanism ensures that everyone can only obtain assets in an equal manner. Unlike mainstream web3 projects, VCs make early investments, which can obtain chips at a lower cost and then sell them to the public at a high price in the secondary market.

BRC20 has a simple protocol format and single function, so there are no risks associated with smart contracts, such as project party Rug, blacklisting, contract hacking, etc.

It enriches the accounting purposes and asset categories of the Bitcoin network, creates a large amount of network fees, and can fill the Bitcoin network security budget after the subsequent BTC block output continues to decrease.

In my opinion, the above statements all make sense, but they are not the main source of the hot BRC20 assets and huge wealth effect this year.

Is inscription asset represented by BRC20 a good business innovation?

It depends on the standpoint of interest from which the word "good" is evaluated.

This is certainly a good innovation for trading platforms, asset speculators and Bitcoin mining practitioners, because the emergence and popularity of such assets have actually increased their income.

However, as to whether inscription assets provide broad commercial value, such as reducing the production costs of goods and services, improving business efficiency, and optimizing resource allocation, based on current observations, the author holds a negative attitude.

BRC20 is essentially just a new form of Meme asset.

The driving force behind the surge in inscription assets

The popularity of BRC20-type inscription assets is a rare speculative bright spot in the bear market. Many stakeholders have sufficient motivation to promote the continued development and expansion of this trend:

Mining community: Inscription transactions are booming, miners and mining pools earn a lot of commissions, and mining machines are easier to sell. They are the direct beneficiaries, and naturally hope that this "summer of inscriptions" will not end too early.

Exchanges: New speculative businesses bring more fees + more new users + the effective activation of the strategic product wallet. Okex is undoubtedly the big winner of the summer of inscriptions, and Binance has also begun to follow up.

CX team: New themes, new stories, and the headcount resources in hand can be monetized again

The above three forces are likely to accelerate the popularity of inscription assets to the next stage.

The next stage of the script

The next stage must have a script for the next stage to make this already large market even bigger and hotter. The following may be some representative event nodes:

Second-tier CEXs continue to list more inscription assets besides Ordi and Sats, continue to drive other memes up, and introduce more traditional crypto investors into the BRC20 speculative market;

Top CEXs such as Aoan have launched more inscription assets, and introduced mainstream crypto funds into the BRC20 market through CEX;

Other innovations besides pure memes have emerged, such as the BRC20 meme that introduced the Ponzi mechanism, which has a more exaggerated wealth effect.

What trends and wealth codes are waiting for us in the inscription ecosystem this week?

Our Assets

This self-exposed Chinese project performed very well in the past few weeks. With the integration of technical concepts such as Lightning Network, Taproot Assets, and Nostr Protocol, it attracted a large wave of traffic to the project. The two test inscriptions of its early airdrops both rose by more than 100 times, forming the platform's own fomo effect.

Nostr Assets is expected to launch its main functions Taproot Assets and Fair Mint this week. After the functions are opened, users can mint inscriptions and publish their own inscriptions on the platform in a fool-proof manner.

At present, many players have prepared their wallets and funds, and are just waiting to rush in after the official website is opened.

postscript

Strong greed and gambling are the most important sources of vitality in the crypto industry. I will continue to observe how the Summer of Inscriptions experiment will evolve.

Everyone, please move your hands and pay attention~

Thank you for your support, see you next time!