Editor's Pick 27-04-2024 17:09 10 Views

Taking Ordinals to a New Level: Why Bitcoin Inscriptions Need AR


Have you ever touched an NFT – or seen one floating in the air right in front of your eyes? The time has come to advance digital collectibles – and bring them as close to the physical reality as they have ever been, enabling a plethora of new use cases. That’s exactly what Jade ARdinals do, all on the very first and most popular blockchain in the world, Bitcoin.

The Demand for Something New 

Bitcoin Ordinals have taken the crypto world by storm. As hundreds of digital artifacts pop up, it becomes increasingly difficult to navigate the inscriptions’ landscape. The demand grows for simple yet captivating projects ready to offer unique utility for owners of digital art items, collectors, and projects with their communities. 

One of those projects is ARdinals – a platform where anyone can create an AR-driven Ordinal collection, enabling immersive augmented reality experiences. ARdinals also allow for enhancing the existing Ordinals with AR, bringing a new dimension to Bitcoin inscriptions. 

This lets the crypto community practically touch digital art, serving as a direct link between the crypto world and reality. Creating an inscription in AR/VR allows breathing new life into collectibles and brings joy to collectors who can contemplate their digital artifacts in augmented reality. What’s more, ARdinals offer tangible utility – they open the possibility to create new levels of traits, increase the value of existing collection items, and activate entirely new DeFi mechanics.

The Ordinals’ Frenzy

Any new movement in crypto can reach incredible scales within mere months. But even by cryptocurrency industry standards, Ordinals have demonstrated unparalleled dynamics. 

Since January 2023, enthusiasts have created more than 66 million Ordinal inscriptions. Users paid $415 million in fees to mint them. Bitcoin today is the top blockchain in terms of NFT sales, surpassing Ethereum by the average monthly volume in April 2024.

Two opinions

The Ordinals mania increased the Bitcoin block occupancy to 80-90% and raised miners’ rewards. However, not all industry players were pleased with such network activity growth. 

Bitcoin Core developer Luke Dash Jr. referred to Ordinals as “garbage” and proposed banning inscriptions using spam filters. His opinion is quite popular – Bitcoin purists believe that inscriptions overload the network and thus increase fees.

Others see new opportunities in the technology. The rise in on-chain activity in the Bitcoin network increases miner rewards, which makes mining more profitable and potentially enhances network security. Also Ordinals reinvigorate the crypto’s oldest network, providing it with new use cases and attracting new developers. The influx of talent contributes to infrastructure development and the growth of L2 solutions on Bitcoin, promising cheaper and faster transactions.

Jade ARdinals: Ordinal Inscriptions Reinvented

Jade ARdinals take “Bitcoin NFTs” one step further, embodying them in an augmented reality form. Enthusiasts can craft a single ARdinal or an entire collection directly on the Bitcoin blockchain. One can also enhance their existing Ordinals collection by converting images into AR, thus creating their augmented reality twins. 

Jade ARdinals are fueled by a fungible utility token $JD98 based on Runes, offering a range of opportunities across the platform. Users pay it to inscribe their ARdinals, upgrade digital collectibles, and trade them on marketplaces including initial and secondary sales. Anyone can receive rewards by staking $JD98.

The platform features its own Jade ARdinals Collection traded on the Magic Eden marketplace. Owners of these unique ARdinals benefit from the platform’s growth as they earn a share of commissions and have access to various DeFi opportunities based on the Rarity Levels. 7,000 of 9,998 Jade ARdinals were minted in a fair launch for the community in just 22 minutes and have been bringing rewards to their owners ever since. 

The owners of Jade ARdinals can boost their rewards by staking their collectibles. Moreover, those who stake a dedicated Jade ARdinal in pair with JD98$ will earn even more and unlock a new array of benefits on the platform.

Fostering Bitcoin 

In February 2024, Binance Research issued a comprehensive review of the inscriptions landscape. The experts concluded: “We could witness a completely different Bitcoin ecosystem in the coming years. Some might argue these changes contradict BTC’s intended role as “hard” money. However, continuous innovation is crucial for creating new, engaging use cases that can promote broad-based adoption.” 

Ordinals have provided the long-awaited opportunity to develop the Bitcoin blockchain, enhancing it with new use cases and DeFi mechanics. Alongside other pioneers in the field, ARdinals aim to cultivate a new thriving economy on Bitcoin, expanding and strengthening Satoshi’s vision.

The post Taking Ordinals to a New Level: Why Bitcoin Inscriptions Need AR appeared first on Cryptonews.

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