Bitmap.... Bitcoins future metaverse.

Ordinals/Inscriptions

Over the past summer developments were made in Bitcoin technology allowing users to inscribe data on the Bitcoin Blockchain. This allowed for what are essentially NFT's on Bitcoin's Blockchain. These BTC NFT's are called Ordinal Inscriptions.

BTC Ordinals & Inscriptions - Explained

Ordinals
BTC Ordinals refer to a system for naming extremely large numbers using the Bitcoin blockchain. This system is based on the concept of ordinal numbers, which are used to describe the position of a number in a sequence.

In the BTC Ordinals system, the first number is simply "1". The next number is "2", the one after that is "3", and so on. But once you get to the number 21, the system starts to diverge from the traditional numbering system. The number and transfer scheme system relies on first-in-first-out, thus, the name: Ordinals. In short, Ordinals are a way of naming large numbers using the Bitcoin blockchain.

Inscriptions
BTC Ordinal inscriptions refer to the use of the BTC Ordinals system to create unique and verifiable inscriptions on the Bitcoin blockchain. These inscriptions can be used to permanently record a message, a signature, or any other piece of digital data on the blockchain.

In BTC, you would generate a unique BTC Ordinals number for the inscription, which can then be used to reference the message or data being inscribed. The inscription tool will then create a Bitcoin transaction that includes the BTC Ordinals number and the data being inscribed, and broadcast it to the Bitcoin network which becomes a permanent part of the blockchain's historical record - making it publicly verifiable and cannot be changed or deleted. This data could be almost anything, in our case, it would be digital assets that are unique and represent ownership of a specific piece of digital content.

Bitmap

Bitmaps were claimable for free (just pay tx free) and each represents a BTC block. Rarity is determined by a number of factors such as block number, the date the block was mined, who mined or interacted with the block, and whether the block contains rare satoshis (the smallest unit of measurement for BTC). Each Bitmap can essentially be used to represent a parcel of digital land in any metaverse project that wishes to include them. Seeing as Bitcoin is the original Cryptocurrency and will always hold weight because of it, many believe that Ordinals and any projects building with them will hold the same weight over traditional NFT's on other chains. Here is a link to the Bitmap marketplace on Magic Eden https://magiceden.io/ordinals/marketplace/bitmap

$BMP

A BRC-20 (coins minted on the BTC Blockchain, similar to ERC-20 on Ethereum) was recently minted and claimable for all Bitmap holders. This is a good sign that developers have more in mind for Bitmaps and a future metaverse is in the works if not many metaverse's.

Conclusion

With a current price of Bitmaps falling after the $BMP token drop I believe now is an excellent time to purchase. A lot is set to happen over the next couple of years and I believe BTC and Ordinals will have a huge part to play. We saw how metaverse land played out on Ethereum last bull cycle and its not too far fetched to think Ordinals will have a similar course during this upcoming cycle.

None of this is Financial Advice and is intended only to educate. Never buy/trade with more than you are willing to lose.