Project Overview
Project Name: Bitcoin Puppets
Issuance Date: January 3, 2024
Total Supply: 10,001 NFT
Issuance Public Chain: Bitcoin Ordinals
Issuance Price: Approx 0.0068 BTC (about $450)
Current floor price: about 0.0879 BTC (about $4,790)
Highest transaction price: about 0.25 BTC (about $13,890)
Total market capitalization: about 680 BTC (about $35.4M)
Number of holders: about 6,399 unique
marketplaces: Magic Eden, OKX, CoinGecko, DappRadar
Art style and generation mechanics
Bitcoin Puppets is an NFT collection of 10,001 unique avatars in the MS Paint hand-painted style, created by a 12-year-old artist (pseudonym Le Puppeteer Fou). The project's blend of Bitcoin culture, satirical humor, and community spirit has attracted the attention of a large number of Web3 enthusiasts. Each NFT is minted through the Bitcoin Ordinals protocol, embedded in the smallest unit of the Bitcoin blockchain, "sats".
Team & Partners
Project Initiator: Le Puppeteer Fou (pseudonym)
Previous works: Lasogette (Ethereum), O.P.I.U.M. (Bitcoin Ordinals)
Community: Projects via Discord and X (former Twitter) has built an active community where members work together to create and promote.
Ecosystem & Development
Bitcoin Puppets is a decentralized, community-driven project with no clear roadmap or business plan. The continued development of the project depends on the participation and support of the community. Despite the lack of official support, the project still occupies an important place in the Bitcoin NFT ecosystem.
Business Model & Intellectual Property
Bitcoin Puppets' business model relies primarily on the sale of NFTs and secondary market transactions. The project team earns revenue by charging transaction fees and providing value-added services (such as virtual items, privileges, etc.). Regarding intellectual property, holders own the copyright to their NFTs, which can be used on personal social media, but cannot be used for commercial purposes.
Challenges and Controversies
MarketCompetition: The number of NFT projects on Bitcoin is constantly increasing, and the competition is becoming increasingly fierce.
Technical issues: The high transaction fees of the Bitcoin network can affect the user experience.
Community management: The governance and management of decentralized communities can be divided and conflicted.
Cultural identity: Some members of the Bitcoin community have reservations about NFTs, believing they don't align with Bitcoin's decentralized philosophy.
Conclusion
Bitcoin Puppets is an NFT project that combines Bitcoin culture and the art of humor and has carved out a niche in the Bitcoin NFT ecosystem with its unique style and community-driven model. Despite the competition and technical challenges of the market, the decentralized nature of the project and the community engagement have given it some influence in the Web3 space.
