#146 - Bitcoin NFTs are heating up

GM and welcome to Decentra Daily.

We're the breakfast sandwich of web3 newsletters – quick, tasty, and goddamn reliable.

We're the web3 newsletter of the people!

Don't forget: hit the button at the end of this email to start our rewards program.

Today,

• 3 Ordinals projects to keep an 👀 on.

• Reddit launches official avatars for the Super Bowl

• MarketWizard's 🧙‍♂️ Crypto Outlook

Top 24 hr collection volume

via CoinMarketCap

1. Sewer Pass - 546 sales earning 1,642.18 ETH (0.02%)

2. MAYC - 93 sales earning 1,352.02 ETH (0.02%)

3. Clone X - 252 sales earning 1,291.51 ETH (0.13%)

4. Pudgy Penguins - 174 sales earning 999.32 ETH (0.29%)

5. Azuki - 55 sales earning 770.67 ETH (0.00%)

Here are 3 cool Ordinal projects

Last week we covered Ordinals, the protocol for "inscribing" Satoshis – which makes it possible to create NFTs on the Bitcoin blockchain.

Thanks to Ordinals, Bitcoins and Satoshis are now no longer all equally fungible.

The more you know – Satoshis are the cents to Bitcoin's dollar, except they equal 1/millionth of a BTC.

This is a big switch up from the original concept of Bitcoin, which intended the cryptocurrency to be an "electronic cash system."

and it's ruffled the feathers of many Bitcoin diehards, who fear that messing with BTC's prime directive will cause wider unintended issues across the chain and market.

But, Ordinals has also captured the attention of NFT degens – who are busy inscribing memes, pfps, and other metadata.

(Even if there's as yet no official marketplace for trading them, and deals are literally being done on google docs. 😂)

At the time of writing, over 10,000 Satsohis have been inscribed, but things are moving so fast, that number is likely to be way higher by the time you read this.

Let's take a look a 3 Ordinals projects that may or may not be notable:

...Yes, there's already an Ordinal Checks derivative.

Ordinal Punks

We're going back to the beginning, with another round of Punks. This time, Ordinal Punks are limited to 100 pfps and incorporate a few new traits – including laser eyes and jester hats.

The ATH for an OP is currently 3.2 BTC. 👀 Blue whale Dingaling (see our eBook) just dropped some serious cash on them, too.

Ordinal DOOM

Inscription #466 – found in Bitcoin block #774526 between a Punk and a frontpage of the Times Newspaper – is a fully playable, minimalist version of DOOM, the iconic shooter.

Ordinal DOOM follows in the storied tradition of calculator DOOM and pregnancy test DOOM.

Edge of Oblivion

Inscription #9978 contains the image of a black hole and marks the first Edge of Oblivion Ordinal.

According to its creator, @null_ish, this project lets you bypass the (currently) highly technical inscription process, by burning ETH for an Ordinal instead

– which is why you can find the collection on Opensea.

Want more on the how & what of Ordinals?

• Here's an in-depth explainer from @TaraAnnison

• Here's the Ordinals protocol handbook

• Here's a bot (in alpha) that inscribes Satoshis

• This team is making a wallet for BTC NFTs

• A rough Ordinals timeline

• 5 things to know about Ordinals, from our friend corporate trash

Tweet of the day

👀 🤷‍♀️

On the web3 wire

Cointelegraph's crypto heroes and villains 🦸‍♀️The magazine is back with a 2023 edition of the top 100 influencers in crypto and blockchain.

Another look at Bitcoin's Golden Cross 🤞This article explains why the market indicator is trusted by many traders.

Hermès wins their lawsuit against copycat MetaBirkin NFTs 👨🏻‍⚖️This was a precedent-setting case about how the courts view IP rights and derivative collections.

Reddit's back at it again with Super Bowl avatars

If you partake in a Reddit thread or two, you can get your account ready for Sunday with a limited edition, official NFL-themed Snoo avatar.

Display your allegiance to the Eagles or Chiefs – or just enjoy the hype with "Champs" and "Super Fan" characters.

All avatars are available for Reddit users to claim for free, although only one per account.

Reddit's Collectible Avatars launched last year and remain probably the most successful mainstream NFT collection to date – spurring the creation of millions of Polygon wallets, hundreds of thousands of which still remain active.

Designed by independent artists and Reddit creators, Reddit users can collect, trade, and use the avatars as their pfps.

Despite being a free, open mint, the NFL collection has generated a total volume of 4 ETH on Opensea.

You can claim your Reddit Super Bowl avatar here.

In other Super Bowl news...

Decentra Daily is brought to you by CoinLedger

Let's face it, doing taxes when you hold digital assets can feel like being stuck on an Interstellar spaceship with Matthew McConaughey.

If only there was a popular, fully integrated crypto & NFT tax tool that saved you time...

CoinLedger is the most trustworthy crypto tax software in the game, saving their 300K+ users over $50 million in tax reduction opportunities.

How does CoinLedger work?

• Import your wallet or exchange profile

• CoinLedger scans your assets & transactions for the biggest tax savings

• Export the results to TurboTax, H&R Block, or your accountant

Don't get stuck in a time loop come tax season. With billion of dollars in transaction volume and partnerships with leading platforms, CoinLedger makes crypto taxes a breeze. Alright, alright, alright.

Meme of the day

You'd have to be an LLM to keep up with all the news - amiright?

MarketWizard's 🧙‍♂️ Crypto Outlook

Stocks sorcerer MarketWizard is here with this week's expert financial forecast. What are the signals saying this time?

This week's crypto forecast 🌦

Dollar index

• Everyone on Crypto Twitter is pointing to a dollar reversal

• All I see is a slight bounce and a rejection for now

• At the same time, crypto and stocks didn't really care about that dollar bounce 🤷‍♀️

S&P 500

• The SPX is looking bullish and healthy after a 1-year downtrend breakout

• Prices are consolidating a little under a horizontal resistance ($4200)

• Once that's gone, it's going to start a proper bear market rally ✊

Crypto macro

• Not much has changed since last week

• BTC and ETH are consolidating which helped ALTs continue upward

Ethereum

• ETH is about to take the wheel soon and show everyone who's boss

• Once ETH flips $1700, it will head toward $1900 – $2000 very quickly

• $1660 must hold for ETH to remain bullish

Bitcoin

• Flip 23.4k, and 25k is next

• 22.8k must hold for BTC to remain bullish

You can find deeper market analysis and crypto conversation via MarketWizard's Discord channel.

c u tmrw! 👋

What we're reading this week