The Pizza coin has been very popular recently. Many friends don’t know much about it. Don’t worry. Today, I will show you the origin of Pizza coin and analyze the reasons for its rise and the value behind it through four aspects: meme attributes, community, airdrop cost and future empowerment.
This article does not contain any investment advice, it is just for information sharing
Pizza and Bitcoin are like quantum entanglement, inseparable.
Back in 2010, a programmer in the United States mined tens of thousands of bitcoins with his home computer, but couldn't spend them, so he posted online, "I want to spend 10,000 bitcoins (currently worth $693 million) in exchange for two pizzas." After a few days of posting, no one responded. Finally, the transaction was successful after waiting for several days. This was the first physical transaction of Bitcoin, which means that Bitcoin has value.
Since the transaction was dated May 22, it was later dubbed “Bitcoin Pizza Day.”
Next, let’s get to know the pizza coin which has been very popular these days.
Unisat, a well-known Bitcoin open source wallet, recently announced that in order to celebrate Bitcoin Pizza Day, it will airdrop five-character inscription Pizza to its users, with a total of 21 million pieces.
The rules for this airdrop are relatively loose. Anyone who has traded inscriptions, runes or NFTs on Unisat, or made transfers in the past three months, is eligible to participate. The lowest address will receive 100 Pizza coins.
Since the airdrop news was released, the OTC price started at 0.3u per coin, and has risen to 8.8u in the past few days. It currently remains at around 6.5u.
That is to say, the minimum airdrop for one address is 650u.
The pizza coin has risen so much that many people said they couldn’t understand it and slapped their thighs.
So I did some research and will make a preliminary analysis from four aspects as to why the price of pizza is so great.
1. Meme attributes
Meme coins on Solana have been very popular recently. The Meme sector has also become the most active sector in this bull market.
Among the top 50 cryptocurrencies by market value, there are meme coins such as Dogecoin, Shib, Pepe, Wif, Floki, etc. This force cannot be ignored.
The pizza IP is widely known for historical reasons and has a certain community consensus and nostalgic value. In addition, the total number of pizza coins is 21 million, which is the same as the number of bitcoins, which makes this IP have a certain hype value.
At that time, 10,000 BTC is currently worth 693 million US dollars. Now, 21 million pizzas need to rise to 33 US dollars to exchange for 10,000 BTC.
This makes many people curious. Can the BTC lost in the past be exchanged for pizza? This topic has a certain popularity and imagination space.
2. Community
This time, the pizza free airdrop has loose application rules, and a total of 200,738 addresses participated in the claim. This claim is wider than the rune stone airdrop, and the number of people covered by the airdrop is twice as large.
This ensures that the entire pizza community is large enough and popular enough, and has attracted a high level of attention among users in the entire cryptocurrency circle.
3. Airdrop Fees
This time Unisat has a larger scale. Users only need to apply on the website, Unisat will engrave it on the chain and then pay the handling fee for the airdrop. The entire airdrop cost Unisat more than 2 million U.
We roughly calculate the gas on the Bitcoin chain in the past few days:
First inscription casting cost
The total number is 21 million, each with 1,000 pieces, so a total of 21,000 pieces need to be minted. Based on the cost of 4u per piece, the cost of minting all of them is
21000*4=84000U
Secondly, the cost of engraving the transfer inscription
A total of 200,738 addresses applied for the pizza airdrop, which means that 200,738 transfer inscriptions need to be engraved, and then batch transfers are made. The entire cost of engraving the transfer inscription is
200738*4=802952U
Final transfer cost
The transfer fee for each address is about 4u, and it costs about 4u to transfer more than 200,000 addresses.
200738*4u=802952U
So all the sum is about 1.68 million U
Coupled with the many invalid transfer inscriptions, the Bitcoin gas fee has risen a lot during this period, and the entire pizza airdrop cost may be more than 2 million U.
This also means that the cost of a single pizza is about 0.1u. Although it has increased many times now, unisat spends such a huge cost on free airdrops. Many friends think that the pattern is big enough and it is definitely not a one-time thing. They think this is a great opportunity.
As a well-known Bitcoin ecological wallet, whether Unisat will be able to increase the rights and empower Pizza in the future remains to be seen. Currently, the Unisat rune market has lagged behind the magiceden (ME) and OKX markets, and the situation is a bit embarrassing.
The launch of pizza has helped Unisat quickly regain attention in the fiercely competitive market, and can be considered a breakthrough for Unisat.
After all, the cryptocurrency world is an attention economy. As long as the heat is high enough, there will be capital flow and participation.
This article will help you quickly understand the origin of Pizzacoin, analyze the reasons for its rise and its value through four aspects: meme attributes, community, airdrop cost and future empowerment. If you find it useful, please like and subscribe to the Jiuba channel.
