In December 2022, Casey Rodarmor introduced the Ordinals theory on Twitter, and this innovative technology has attracted widespread attention. Ordinals directly engrave some information or inscriptions on each聪, and each inscription is tracked and transferred through ordinal theory, which gives each聪 a unique ID (making it irreplaceable). This is actually the introduction of a protocol for casting NFT assets for the Bitcoin network.

At that time, BAYC's parent company Yuga Labs also released the NFT series TwelveFold based on the Ordinals protocol, which included 300 limited edition generative artworks, and the highest auction price was 7 BTC.

Of course, the BTC community has not stopped exploring inscriptions. Since it is possible to issue NFTs on the Bitcoin network through the Ordinals protocol, is it also possible to mint tokens through the Ordinals protocol? On March 8, 2023, a Twitter user named DOMO proposed using Ordinals inscriptions in JSON data format to implement token contract deployment, minting, and transfer. The experimental Bitcoin homogeneous token protocol BRC-20 came into being, and at the same time issued the first token of BRC-20, $ORDI, with a total of 21 million, which everyone can mint for free (only a handling fee is required), on a first-come, first-served basis.

A netizen, Long, made a fortune of 10,000 times by playing the leading coin of brc20, $ordi.

How did he do it?

He said: But at that time, I tried it with the mentality of giving it a try, and minted 1,000 ORDI, 1,000 each, for a total of 1 million. The cost is the transfer fee of the Bitcoin network, which is about 3 U. In this way, the price of each token is 0.003 U, which is almost negligible.

Later, ordi rose to a maximum of 69U, with a total value of 69 million US dollars!

In just 9 months, it soared from 0.003U to 60U, an increase of nearly 20,000 times!

So is the runes protocol the next ordi?

What is runes?

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