Unchained Why All 10,000 OnChainMonkey NFTs Will Move From Ethereum to Bitcoin - Ep. 548
Sep 26, 2023
Danny Yang and Bill Tai, cofounders of Metagood and creators of the OnChainMonkey NFT collection, dive into the exciting world of Bitcoin Ordinals. They discuss the strategic move of their NFT collection from Ethereum to Bitcoin and the innovative potential of Bitcoin as a platform for digital assets. The duo explores notable developments in the Ordinals protocol, including Casey Rodarmor’s proposal on inscription numbering and the concept of recursive inscriptions, while advocating for more NFT creators to embrace Bitcoin's capabilities.
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Give-to-Earn
- OnChainMonkey introduced "give-to-earn," where users mine the community currency (bananas) by giving them to others.
- This promotes community values and generates economic value through acts of kindness.
Ordinals vs. NFTs
- Ordinals offer digital artifacts with five key properties: ownable, complete, uncensorable, immutable, and permissionless.
- This is a significant shift from Ethereum's ERC-721 NFTs, which act as digital certificates linked to off-chain assets.
Move to Bitcoin
- OnChainMonkey is moving to Bitcoin Ordinals because the protocol better suits digital artifacts than certificates.
- The Ordinals protocol aligns with OnChainMonkey's vision, making Bitcoin the preferred platform.
