Key Points
- Bitcoin’s halving is around the corner, scheduled to take place on April 20.
- Here’s a list of the top 7 Bitcoin Ordinals and Rune projects that are worth checking out.
Bitcoin is getting more flashes in the spotlight with the upcoming event scheduled to take place on April 20.
Bitcoin’s latest moves from about $64k to over $72k this month show the high price volatility of the coin’s price ahead of the halving event. At the moment of writing this article, Bitcoin is still trading above $70k, up by over 8% in the past week on CoinMarketCap.
BTC’s price managed to break its ATH, spot BTC ETFs are also triggering higher interest, while the Runes token protocol is also driving significant attention.
Bitcoin Oridnals also seem to get more attention – they are a way to embed data into the Bitcoin blockchain by inscribing references to digital art into small Bitcoin-based transactions.
The NFT-like assets are taking over the market. The Ordinal Inscriptions are digital assets inscribed on a satoshi, which is the lower denomination of Bitcoin. Such inscriptions are possible via the Taproot upgrade that’s been launched on the Bitcoin network on November 14, 2021.
Ahead of the Bitcoin halving and Runes protocol launch scheduled for April 20, here are the most interesting Ordinals projects; some of them already have Runes token plans.
7 Bitcoin Ordinals and Runes Projects worth analyzing
NodeMonkes
NodeMonkes are a collection of 10,000 unique digital collectibles inscribed directly onto the Bitcoin blockchain using the Ordinals protocol.
Here are their key features:
- Built on Bitcoin: Unlike most NFTs which reside on separate blockchains like Ethereum, NodeMonkes are inscribed directly onto the Bitcoin blockchain itself, making them a unique type of collectible.
- Ordinals Protocol: This is a relatively new method for inscribing data onto individual Satoshis (the smallest unit of Bitcoin). Each NodeMonke occupies a specific Satoshi on the Bitcoin blockchain.
- Pixel Art Characters: The collection consists of 10,000 quirky pixelated characters, similar to other profile picture projects in the NFT space.
- Early Ordinals Project: The NodeMonkes were one of the first large-scale profile picture collections to be inscribed on Bitcoin using Ordinals. This early mover status has contributed to their popularity.
The avatars start at $45,000 worth of BTC, and one NodeMoke even sold for over $1 million worth of BTC in March.
Runestone
The Runestone project was launched in March 2024 and airdropped over 112,000 “Runestones” to early adopters of the Bitcoin protocol.
These Runestones are not traditional NFTs, but rather data inscriptions placed onto individual Satoshis (the smallest unit of Bitcoin) using the Ordinals protocol.
Here are their most important features:
- Unique Collectibles: Each Runestone occupies a specific Satoshi on the Bitcoin blockchain, making them unique digital assets.
- Community Focus: The airdrop specifically targeted early Bitcoin users, fostering a sense of community and rewarding those who participated in the network’s growth.
- Transparency and Fairness: By leveraging the Bitcoin blockchain, Runestones offer transparency and immutability of ownership.
Bitcoin Runes protocol launches later this month, alongside the halving.
Taproot Wizards/Quantum Cats
Taproot Wizards is a developer group focused on leveraging the Taproot upgrade of the Bitcoin blockchain.
https://twitter.com/QuantumCatsXYZ/status/1777326790421119156
Quantum Cats is a collection of digital cat NFTs (non-fungible tokens) launched by Taproot Wizards. The Quantum Cats are significant because they are inscribed directly onto the Bitcoin blockchain itself using the Ordinals protocol.
Bitcoin Puppets
Bitcoin Puppets is one of the most visually unique projects in Bitcoin – monkey characters that look like they were bashed together in Microsoft Paint.
Bitcoin Puppets is a collection of 10,001 unique digital collectibles inscribed directly onto the Bitcoin blockchain using the Ordinals protocol.
Unlike most NFTs (non-fungible tokens) that reside on separate blockchains, Bitcoin Puppets are inscribed directly onto the Bitcoin blockchain itself, making them a unique type of collectible.
RSIC Metaprotocol
RSIC Metaprotocol is a project built on the Bitcoin blockchain that bridges the gap between traditional finance and the world of decentralized finance (DeFi).
Important features include the following:
- Rune Mining NFTs: The project revolves around a collection of 21,000 NFTs called Rune Specific Inscription Circuits (RSICs). These NFTs are inscribed directly onto the Bitcoin blockchain using the Ordinals protocol (similar to Bitcoin Puppets and Quantum Cats).
- Yield Farming with “Runes”: Owning an RSIC NFT allows you to participate in a yield farming aspect of the project. The concept is that these NFTs “mine” a yet-to-be-released fungible token called “Rune” on the Bitcoin blockchain. However, details about the mining mechanism and the purpose of the Rune token are scarce.
- Mysterious Narrative: The project has a somewhat cryptic and industrial-themed backstory that ties the RSICs to the “fabric of the Bitcoin blockchain.” This narrative adds intrigue but also raises questions about the project’s overall seriousness.
- AirDropped NFTs: The initial distribution of RSIC NFTs happened through an airdrop in January 2024 to active participants in the Bitcoin Ordinals space. Some high-profile Ordinals collectors received RSICs, while others missed out.
- Trading Activity: The RSIC NFTs are currently tradable on secondary marketplaces and have reached prices exceeding $6,000 each.
OnChainMonkey
OnChainMonkey is a collection of 10,000 unique digital collectibles built on the Bitcoin blockchain, making them a prime example of on-chain NFTs.
https://twitter.com/OnChainMonkey/status/1768336007936803127
Here are their key features:
- Fully On-Chain: Unlike most NFTs that reside on separate blockchains like Ethereum, OnChainMonkey data is entirely stored directly on the Bitcoin blockchain itself. This approach utilizes the Ordinals protocol to inscribe all the information about each monkey onto the blockchain.
- Pioneering Innovation: OnChainMonkey launched in 2022 and is considered one of the first large-scale NFT collections built directly on the Bitcoin blockchain. This early mover status has contributed to their recognition within the crypto space.
- Unique Traits and Properties: Each OnChainMonkey has a unique combination of 7 different traits with various value distributions.
- Community and Network: OnChainMonkey emphasizes building a strong community and network around the project. They have a website and active social media presence where they connect with collectors and enthusiasts.
- Genesis NFTs and Karma System: The project utilizes “OCM Genesis” NFTs, which grant holders access to exclusive features within the OnChainMonkey ecosystem. Additionally, they have a “Karma” system where Genesis holders can “burn” (destroy) specific OnChainMonkey NFTs to create new types of NFTs called “Karma” monkeys.
Ordinal Maxi Biz
Ordinal Maxi Biz (OMB) is a project that combines two interesting trends in the crypto space: Ordinals and memecoins.
Here are their most important features:
- Built on Ordinals Protocol: OMB leverages the Ordinals protocol, a relatively new method for inscribing data onto individual Satoshis (the smallest unit of Bitcoin) on the Bitcoin blockchain. This makes OMB unique compared to most memecoins, which typically reside on their own blockchains like Ethereum.
- Hand-Drawn PFPs (Profile Pictures): The OMB project consists of a collection of 2,100 hand-drawn profile picture sketches. Each sketch has a unique appearance and falls into one of three eye color categories (red, blue, green).
- Limited Information on Rarity: There’s no official confirmation of a formal rarity system within the collection. However, the initial inscription order (red eyes first, then blue) might influence perceived rarity.
- Focus on Bitcoin Education: Interestingly, OMB aims to support educational efforts within the Bitcoin space. They plan to distribute rewards (educational bounties) to those who create informative content about Bitcoin. These bounties may be exclusive to OMB holders.
OMB is an NFT collection with its own token (OMB). The token is tradable on secondary marketplaces like Magic Eden.
These are seven of the most important Bitcoin Ordinals And Runes Projects that are worth checking out ahead of the Bitcoin halving.
