The recent crypto circle can be described by the name of a classic Chinese black comedy movie "Crazy Inscription". In the past two weeks, we have been doing interviews and summaries of various blockchain game projects in 2023. What is ridiculous is that more than one boss complained to me that no one is working, and they are all rushing to inscriptions. If you give them a little pressure, some young employees will propose to resign and concentrate on inscriptions... I grinned bitterly. The W Labs work group has been occupied by the topic of inscriptions. Even the MOD recruitment that now releases a fixed monthly salary + NFT airdrop has few responses. If it were a few months ago, my friends would have broken their heads to grab this job. Chain games are also a very popular track recently, but compared with the magic of inscriptions, it is really a small witch compared to a big witch. Then no one wrote investment research articles, and I had no choice but to continue writing this article myself to make up the number, hahahaha.
Of course, I am also rushing in. When the bull market comes, I will first put myself in a position to invest, and then study, which can cure laziness. This article is just about my personal opinion, which is pure nonsense and does not provide any investment advice at all.
1. What is so special about the inscription?
For users, Inscription has three major features: fair launch, full circulation, and extreme small-scale investment. For project owners, Inscription has one major feature: on the surface, there is no project owner, and the legal risk is low. However, these features have become increasingly weaker as the money-making effect of Inscription has been extremely spread among web3 users recently.
First of all, the most talked-about fair launch only exists in the Ordi batch in the first half of this year. The newly launched inscription teams should have unified time and batch robots, haha, this is human nature, nothing wrong with it.
The second point is that full circulation has been challenged. An inscription was released yesterday that 50% is reserved for defi and gamefi for staking.
Third, the idea of gamble with a small investment to get a big return is to use a few dollars of gas for a few hundred cards to get a return of several thousand dollars. However, the current gas environment costs 20-30 dollars to play one card. You spend 3,000 dollars to play 100 cards, but someone else mints them first and you are out of the index, so the 3,000 dollars of gas is wasted.
Fourthly, whether it is arranging robots in advance or finding OTC merchants to hype together, is this really not considered the project party?
Second, will inscriptions continue to be popular in this bull market?
In a word, yes. If we compare the popularity of NFT pictures in the last bull market and the ICO in the bull market before that, we should have a perceptual judgment that the current hype of inscriptions has not reached the extreme point of madness. Another important point is that as the only new asset class that has appeared in this bull market so far, there are many stories to tell in the future. Finally, all the old miners in the crypto circle have the same goal, that is, Gas must continue to be high, and they have to make money, so these old money WEB3 will stand in a clear line.
How to charge the subsequent inscription projects? Everyone has their own ideas. I will provide some for your reference:
2.1 Find innovative inscription projects that can enter the web3 application category and add actual empowerment to the meme attributes;
2.2 Don’t rush in the short term, as the gas will kill you, unless you are a relative of the deployer and know how to pull it later. Focus on finding some projects that have strong expectations for the future, even if you buy them in the secondary market (WGGDAO Guatian Community VIP channel has summarized some);
3.3 Pay attention to some ancient inscriptions. It is estimated that new dealers will enter, such as OXBT and Deed of BRC20, which have increased by 4-5 times in the past two days. After studying the fundamentals, they represent two types. OXBT is a hot project before, with 16,000 holders, high consensus, and long bottom accumulation time; Deed is a small market, and small dealers can control it without spending too much money.
3. Finally, let me summarize my personal views on the future of inscriptions
The first wave of opportunities to get rich quickly by making a small investment for a big gain is gone. Don’t always dream of becoming Satoshi Nakamoto who has been quietly mining BTC for a year, and don’t dream of getting another chance at ORDI. There may be similar myths of getting rich quickly in the market, but they are actually just eye-catching news released by the dealer, and have nothing to do with ordinary players.
The second wave of Alpha opportunities with lower multiples still exist, such as the listing of exchanges, which can release a lot of liquidity. When Ordi was listed on the Gate exchange in the last wave, it first rushed to 29U, and the big players could only ship at 20U over the counter, but now Binance and Okex can ship at will. So pay attention to the inscriptions expected by the strong listing, you know.
Finally, we need to find the first project that can actually empower Inscriptions, whether it is DeFi, GameFi, SocialFi or XXXXFi, and can bring Inscriptions into application projects in terms of economic models or business models. W Labs has been researching this for almost two months, and has achieved some results. We also hope to communicate more with friends who have fresh ideas in this area. Any Inscription project that can run in this regard may be the next ORDI, SATS and RATS.
