The Unfolding Saga of Digital Art Collectibles: A Decade-Long Odyssey on the Blockchain

The Unfolding Saga of Digital Art Collectibles: A Decade-Long Odyssey on the Blockchain

Introduction:
In the ever-evolving landscape of digital art collectibles, a provocative question arises: if given the choice to invest in a purely digital art collection with no team affiliation, utility, or immediate purpose, which blockchain would be the most suitable for a ten-year commitment? This inquiry delves into the essence of the ordinal NFTs thesis, a concept that may elude those unfamiliar with the intricacies of the digital art world. Despite the complexities of off-chain indexing and user interfaces, the core thesis revolves around simplicity, decentralized principles, and the inevitability of fees becoming negligible. This essay aims to unravel the layers of this peculiar coma-thesis, exploring the perspectives of chain maximalists, the significance of being the "OG," and the profound impact of Bitcoin on the crypto ecosystem.

The Ordinal NFTs Thesis:
At its core, the ordinal NFTs thesis posits that the true essence of a digital art collectible lies in its longevity and the commitment to hold it for a substantial period, perhaps a decade. The intricacies of blockchain technology, often perplexing to outsiders, play a pivotal role in shaping this thesis. While the off-chain representation of assets might cloud the understanding for some, the argument suggests that, in the grand scheme, these nuances are inconsequential. The focus shifts to the longevity of the digital art piece, and from this perspective, fees associated with transactions become a mere afterthought, contributing to what the author terms as just another coma-thesis.

Chain Maximalism and Decentralization:
Chain maximalism, a term used to describe unwavering loyalty to a specific blockchain, introduces a nuanced perspective. For those who firmly believe that their chosen blockchain is the best and most decentralized, it becomes challenging to comprehend that others may not view their preferred chain as a lasting entity over the next ten years. The essay suggests that this viewpoint may hinder one's ability to acknowledge the potential emergence of superior alternatives. Yet, in the ever-evolving tech landscape, change is inevitable, and what may seem unassailable today could be surpassed by a better version in the future.

The Uniqueness of Bitcoin:
The essay delves into the uniqueness of Bitcoin, emphasizing the first mover's advantage and the impossibility of replicating its creation. Bitcoin's significance lies not just in its functionality as a cryptocurrency but in its role as a pioneer. The assertion is made that if Bitcoin were to fail, it could potentially spell the failure of the entire crypto ecosystem, representing a viewpoint that may be subjective but nonetheless deserves consideration.

ETH Gas Fees and Bullish Arguments:
A compelling argument is presented concerning the high gas fees associated with Ethereum transactions. Contrary to common sentiment, the essay contends that these high fees are, in fact, a bullish indicator for the broader crypto market. The rationale is that users being priced out of high-fee networks like Bitcoin and Ethereum could drive adoption and favor for alternative chains with lower fees, thereby contributing to the overall growth of the crypto space.

The Future and Room for Growth:
As the essay concludes, it emphasizes that the current state of the digital art and crypto markets represents just the tip of the iceberg. With the slow evolution towards becoming the next generation of digital gold bugs, the essay highlights the immense room for growth. In the endgame, the simplicity of some chains boasting high fees while others maintain lower fees is presented as a straightforward paradigm, suggesting that this diversity is intrinsic to the unfolding saga of digital art collectibles on the blockchain.