Bitmap and BRC-420

Introduction

The Ordinals protocol, which employs a numbering method for sats, the smallest unit of Bitcoin, facilitates inscriptions, allowing data (like text or images) to be written as metadata on sats. Bitmap is an open-source standard akin to the Ordinals protocol, enabling users to own and inscribe entire Bitcoin blocks. Each inscribed block becomes a part of the metaverse, with Bitmap functioning as both a protocol and an asset.

Bitmap.land, based on Ordinals Theory and Bitmap Theory, is the first metaverse project in the Bitcoin ecosystem. Its launch is closely related to the Ordinals protocol’s numerical theory, similar to how virtual land sales in Decentraland and The Sandbox depend on the ERC-721 standard.

What is Bitmap Theory?

Bitmap Theory, proposed by Blockamoto and discussed in “What is Bitmap Metaverse Theory?” reimagines the data within Bitcoin blocks. In this theory, each transaction input in a Bitcoin block is mapped to a parcel, forming a district or area, with the size of each transaction input causing the mapped parcels to vary in size. It posits that a Bitcoin block can represent a metaverse area, with transactions within the block representing parcels of land. Users inscribe data onto Satoshi, obtaining ownership of a specific Bitcoin block, akin to minting at no cost.

Current State of Bitmap

The Bitcoin chain doesn’t inherently possess the concept of owning block rights. Bitmap, within its own ecosystem, defines block ownership for Bitmap holders, which is central to its model. On this unchangeable foundation, indexers or projects developed based on Bitmap can interpret block data to map different metaverse scenarios and develop functions for Bitmap holders. As of December 28, 2023, Bitmap has reached 31,100 holders, surpassing Sandbox as the metaverse project with the strongest consensus.

What is BRC-420?

BRC-420 is a Bitcoin chain asset management protocol based on the Ordinals and Bitmap protocols, established by Recursiverse (RCSV). The Ordinals protocol supports inscriptions on a single satoshi, while BRC-420 allows for the recursive combination of multiple inscriptions into a complex inscription. The BRC-420 format is fully open-source, allowing anyone to create their “metaverse inscriptions.” Developers can use these “metaverse inscriptions” by purchasing or paying royalties. In the metaverse, recursive digital asset formats link usage rights and royalties, benefiting creators.

Current State of BRC-420

Source: https://bitmap.land/bapps

Recursiverse is one of the most outstanding development teams in the Bitmap ecosystem, attempting to build BTC’s expansion solutions based on Bitmap. The BRC420 asset protocol standard proposed by them has been adopted by several teams within the Bitmap ecosystem. Over a hundred teams have already issued assets on BRC420, including game characters, game DLC, HTML scripts, music, videos, and more. The RCSV’s Bitmap browser accounts for over 95% of the traffic, but any team can develop clients to run BRC-420 assets.

Notable BRC420 Projects

BRC420 Blue Box, the first asset issued by the BRC420 project RCSV, is central to the entire ecosystem, similar to $Raca’s mother box in its ecosystem. As a BTC asset management protocol driven by RCSV, holders of the Blue Box are said to receive ecosystem income dividends and periodic airdrops from ecological cooperation projects, as well as whitelist qualifications for Bitcoin ecosystem cooperation projects. Although the Blue Box is currently an NFT, it’s rumored to soon tokenize, with each Blue Box convertible into 2100 tokens to ensure liquidity, facilitating large capital layouts and market maker operations.

As of January 3, 2024, the price of a Blue Box is 0.462 BTC, with a total quantity of 10,000 and a market value of about 200 million. Based on CoinmarketCap data and considering the potential scale of the Bitcoin ecosystem and experiences from the previous bull market, the future market value is expected to reach $200,000 to $500,000. Participants in the Blue Box will benefit in the Bitcoin ecosystem-led bull market, both as holders and creators. Thus, BRC420 is seen as a money tree, providing the best avenue into the Bitcoin ecosystem and participation in NFT and GameFi domains. (This section is for discussion only and should not be considered investment advice.)

How to Buy BRC-420

To purchase BRC-420 tokens, follow these steps.

Step 1: Go to the BRC-420 Marketplace website to view available BRC-420 tokens for purchase.

Source: https://brc420.io/

Step 2: Connect Your Wallet. The website currently only supports the Unisat wallet. Click the ‘Connect Wallet’ button to link your Unisat wallet.

Source:https://brc420.io/

Step 3: Click on ‘Unisat’ and then click ‘Connect’ to confirm the connection of your wallet to the website.

Source:https://brc420.io/

Source: https://brc420.io/

Step 4: Once your wallet is connected, browse and select the BRC-420 token you wish to purchase (note that the images provided are not meant as investment advice). Click the ‘Buy’ button to initiate the purchase of the selected token.

Source: https://brc420.io/

Step 5: Finalize the Transaction. When buying, you will have the option to choose the level of network gas fees. After selecting the appropriate option, click ‘Confirm’ to sign the transaction with your wallet. Upon successful purchase, the transaction will be recorded, and you can view your BRC-420 tokens on both the website and within your Unisat wallet.

Source: https://brc420.io/

Conclusion

The advent of the Bitmap and BRC-420 standards has created more possibilities and gameplay for the Bitcoin chain. The BRC-420 standard enhances the practicality of different digital ecosystems and plays a role in promoting the widespread adoption of gaming platforms and engines. Meanwhile, the RCSV team is actively advancing Bitcoin network expansion solutions. More innovations are awaiting discovery in the future.