The Bitcoin Frogs have emerged as the undisputed top original 10k ordinals collection
We at Deezy Labs did the tech for the launch, but it wasn't as smooth as you might think, and we even lost money on the mint.
Here's the origin story of the Bitcoin Frogs:
@vibes_gawd somehow got connected with an anon by the name of
@Frogtoshi_ who had curated the art for an original 10k collection of cute little frogs. At the time we were one of the only launchpad platforms, and we were the only one accepting lightning payments for collection mints
The frogs were to be a free-(ish) mint, where buyers only paid the transaction fee to inscribe the 5kb frog. Nobody had done a 10k launch like this yet
Ultimately Frogtoshi felt that a lightning-native mint was the most natural experience to self-select for bitcoiners, so he decided to go with our launchpad
From our perspective, we were mostly looking to make some revenue from our launchpad. Originally we had built our lightning launchpad in the sub-3k era for our
@Astral_Babes collection, but now we had the ability to offer this to other projects and earn a spread on the inscription fees
Our plan was to make about 0.5 BTC in spread fees on the frog mint. We had done the tech for other launches that flopped before, so I was skeptical of any new projects. So we didn't ask for an allocation of frogs 🤣🤣🤣
The launch was nuts. The lightning payments flooded our system and frogs began getting inscribed one by one. Inscribing was very slow, so even though all 10k had been purchased, they were taking several hours to get inscribed...
So we thought everything was good and went out to lunch all happy, thinking we had just pocketed about 0.5 BTC.
But soon we started seeing chatter in the discord... The frogs were all NAKED!! The layering was off and the clothes were behind the frog bodies! People were laughing in the discord calling it "Only Frogs". My heart sank. We had totally screwed up.
Frogtoshi reached out and we started chatting. He was the so supportive and understanding. We had minted about 2000 naked frogs, and another 3000 were still in the mempool, and 5000 more in the backlog. This was a disaster.
So we decided to use RBF to cancel the 3000 pending ones, and pause the minting of the rest. We spent almost 1 BTC in fees to cancel those pending naked frogs.
Then we fixed the layering and restarted the mint - sending the proper frogs to everyone involved. This cost us another 1 BTC in inscription fees that we weren't expecting.
Overall were hit with about 1.5 BTC in losses 😐 A very sad moment, but we took it as a lesson learned. With our tail between our legs we moved on. A couple Deezy Labs folks had grabbed a few frogs during the mint, but I think I only had grabbed one (to test it out), but because I was so overwhelmed by the tech problems I didn't grab any more.
It was a tough moment and we thought we had taken a serious L. Frogtoshi was the most gracious and sent us some sympathy frogs which we stashed away. Then we basically forgot about frogs and moved on.
But sure enough, 3 months later I get a call from
@vibes_gawd ... "Dude.... the frogs are pumpin... People are saying Ribbit in spaces". Amazing. This project that we had kind of forgotten about had taken a life of its own and become a major community.
Since then the community has been incredible. Such an organic group of fun folks, and the art has really grown on me. These frogs are just so cute and gumptious I could gobble them all up.
I felt so much fomo that I went and bought a bunch of frogs on the secondary market a couple months ago in to 0.02-0.03 range. Now my bags are locked and loaded, and the Frogs have done over 500 BTC in secondary sale volume. It feels inevitable that Frogs have solidified their place as a historic and timeless OG ordinals collection - and undoubtedly the top 10k original art collection.
Anyway, that's the origin story from the perspective of Deezy Labs. Fun stuff. Don't buy these to speculate on price, buy them if you want to own them forever :)