THE CULTURAL PROBLEM OF BITCOIN NFTS AKA ORDINALS
@Knox556 tweet really captures the state of Ordinals right now. Liquidity is drying up, and the ecosystem feels broken. Rare sats, low-number inscriptions, and unique art used to spark excitement, but now the focus has shifted to short-term flipping. Collections are dumped for a little profit, and the culture of valuing creativity and rarity is fading fast.
1/7 👇
The cultural problem that we have with Ordinals is that no one sees any value in collecting anything any more
It used to be exciting to see a collection that used high file sizes, rare sats, or interesting art on Bitcoin - but now everyone is just racing to floor everything as quickly as possible to get a $10 profit
Why would any new creators want to launch anything here at all when you pair that with a much higher deployment cost?
Not sure what the solution is but we're just going to cannibalize our ecosystem if it continues down this path