Can the BRC-420 Blue Box become the 'Pandora's Box' that opens the Bitcoin ecosystem?
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BRC-420 Protocol - The first inion project based on the Bitcoin Metaverse;
The blue box is similar to the mother box of the $Raca eco.
The Blue Box is actively promoting the development of a full-chain game eco for Bitcoin.
The success of the BRC-420 protocol and its Blue Box project signifies a new peak for the BTC eco.
Introduction
Recently, with the development of the inion track, there has been a FOMO phenomenon in the market about the imagination of the Bitcoin metaverse.
As the first inion project based on the Bitcoin metaverse, the BRC-420 protocol has seen the floor price of its blue box NFTs skyrocket from $0.15 to $17,000 in a short period of time, reaching as high as $25,000, representing an increase of over 160,000 times, thereby attracting widespread attention to the Bitcoin metaverse track in the market.
What is the BRC-420 protocol
Simply put, BRC-420 is an asset management protocol based on ordinal and bitmap BTC.
BitMap is a metaverse project in the Bitcoin eco, based on Ordinals and BitMap theories, corresponding to block numbers, and defined as land for BTC.
RCSV is the project party of BRC-420, and is currently a team developing the BTC metaverse based on bitmaps. The Blue Box is the first BRC-420 asset issued by RCSV, the project party of BRC-420.
ICON crypto
BRC420 Blue Box is similar to the mother box of the $Raca eco. As an asset management protocol on BTC, it is promoted by RCSV. It is said that those who hold the Blue Box will receive ecological income dividends and irregularly enjoy airdrops of ecological cooperation projects and whitelist qualifications for Bitcoin ecological cooperation projects.
Although the Blue Box appears to be an NFT, it is said to be tokenized soon. Each Blue Box can be exchanged for 2100 tokens to ensure its liquidity, making it convenient for large funds to deploy and for market makers to operate.
Continuously breaking through the floor price
Due to the narrative of the blue box following the metaverse story of Bitcoin, coupled with the already impressive rise of Bitcoin itself, it has been skyrocketing all the way. And Bitcoin is currently the project with the highest market value in the Ordinals Inion NFTs.
The current price of Blue Box is 0.4269 BTC (data as of January 19, 2024), with a total supply of 10,000 and a market value of approximately 200 million. Based on CoinmarketCap data, considering the potential scale of the Bitcoin eco and the experience of the previous bull market, the future market value is expected to reach 200,000 to 500,000 dollars.
Participants in the blue box will become beneficiaries in the Bitcoin eco, whether they are holders or creators in the eco, they will receive generous returns in this round of the Bitcoin eco-led bull market. Therefore, BRC420 can be seen as a money tree and the best way to enter the Bitcoin eco and participate in the NFT and GameFi fields.
The BRC-420 protocol can combine multiple plaintexts into a complex asset, creating assets of various scales, from small characters and pets to complete game s and virtual machines. Due to its on-chain open source characteristics, any client can run or verify it, fully embodying the spirit of ‘Client Agnostic’ in the whole-chain game. This opens up the imagination space and price expectations at once.
Despite the dominance of RCSV’s Bitmap browser in the market, other teams also have the opportunity to develop clients to run BRC-420 assets. Today, the number of holder addresses of Bitmap has surpassed Sandbox, becoming the largest number of holders in the metaverse assets. This achievement is thanks to its fair launch mechanism and the collective efforts of over 200 development teams around Bitmap.
With the launch of the Bitmap browser and the protocol itself, the market value of BRC-420 is also constantly growing.
As the project party of BRC-420, RCSV is actively promoting the full-chain game plan of the Bitcoin eco. The plan emphasizes assets, gameplay, logic, and data across the chain, aiming to create a truly decentralized Bitcoin on-chain gaming eco. For example, developers can use the “Fighting Module” on the BRC-420 to quickly develop and release new games while paying royalties only through the agreement.
As a product under the BRC-420 protocol, the rapid increase in the floor price of the inion-blue box not only reflects the market’s high expectations for the project, but also demonstrates investors’ recognition of the future development potential of the metaverse track. The concept of floor price refers to the lowest acceptable buying price in the market, and the soaring floor price of the inion-blue box undoubtedly indicates its scarcity and unique value.
Why is it so popular in the market
The reason why the Gate.io Blue Box has gained so much attention in the market is mainly due to the following points:
- Ecological tools: Currently, BRC20’s trading activities are mainly concentrated on OKX and Unisat. With the emergence of other protocols, different protocols have also appeared in different trading markets. The emergence of the leading protocol will definitely give birth to a unique trading market, and the competition in the trading market is far from over.
With the continuous influx of funds into the inion market, users are beginning to turn their attention to inion-based applications. BRC420 is a typical example. Unisat brings innovation to BRC20, allowing users to easily swap BRC20 tokens like AMM DEX through BRC20-Swap. This is expected to unleash the potential of the Bitcoin DeFi eco, and may lead to more functionalities such as lending and derivatives.
- Metaverse Concept: With the trend of Bitcoin Layer2, building a metaverse eco on Bitcoin has gradually become a new hot spot in the market, and Inion-Blue Box is born based on this concept.
In March 2023, Galaxy Research and Mining predicted that by 2025, the market value of the Ordinals market will reach $500 million. At that time, the number of inions was only 260,000, but now it has increased to 33 million, an increase of 126 times. At the same time, the market value of Dragon One ORDI has reached $400 million, and the market value of Dragon Two SATS has also reached $300 million. It can be seen that the forecast for the Bitcoin ecological market has been greatly underestimated.
- Investment Prospects: Many investors are optimistic about the long-term development prospects of the metaverse and believe that early investments may bring huge returns. Nowadays, different protocols have emerged in the inion track, and miners benefit the most, which is also a virtuous cycle. According to Tokenview’s on-chain data monitoring, the daily transaction fees of the Bitcoin network have reached $11.6 million, exceeding Ethereum for the first time since 2020.
As Bitcoin’s halving approaches, miners urgently need to find additional income. The prosperity of the Inion Track brings benefits to miners while indirectly maintaining the security of the Bitcoin network. The reduction of block incentives will make miners rely more on transaction fee income to pay for operational costs. In the future, Bitcoin will definitely compete with multiple scaling solutions, and the explosion of the Inion Track and high transaction fees will be catalysts for future development.
- Technological Innovation: Brc420 is a true asset-based content innovation following Brc20. Previously, it was only NFT and tokens, but now it is a package of assets that are completed through recursion. Moreover, with innovative liquidity release, it can truly attract the attention of the entire market.
Conclusion
The BRC-420 protocol and the related Bitmap project are igniting innovation and vitality in the Bitcoin eco. By creating complex and modular digital assets, BRC-420 is providing new economic opportunities and interactive experiences for creators, developers, and users. With the continuous efforts of the RCSV team, the concept of full-chain games and metaverse in the Bitcoin eco is gradually becoming a reality, demonstrating the vast prospects of Bitcoin technology and applications.
With technological progress and deepening market understanding, we have reason to believe that this field will continue to erupt with more innovation and opportunities. For investors, keeping a close eye on the dynamics of the metaverse and conducting rational analysis will be key to capturing future opportunities.
