{"id":10881,"date":"2023-08-23T19:11:07","date_gmt":"2023-08-23T19:11:07","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2023\/08\/23\/ordinals-are-not-dead-metagoods-danny-yang-talks-recursive-inscriptions-impact\/"},"modified":"2023-08-23T19:11:07","modified_gmt":"2023-08-23T19:11:07","slug":"ordinals-are-not-dead-metagoods-danny-yang-talks-recursive-inscriptions-impact","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2023\/08\/23\/ordinals-are-not-dead-metagoods-danny-yang-talks-recursive-inscriptions-impact\/","title":{"rendered":"‘Ordinals are Not Dead:’ MetaGood’s Danny Yang Talks Recursive Inscriptions Impact"},"content":{"rendered":"

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Bitcoin Ordinals were the talk of Crypto Twitter in the first half of 2023. Now, as the initial fervor surrounding them begins to settle, many are curious about its future, with questions like, \u201cwhat happened to the orange backgrounds?\u201d<\/a> CEO and Co-founder of Metagood Danny Yang<\/a>, a prominent voice in the industry, has stepped forward to assert that Bitcoin Ordinals are far from fading into obscurity. Instead, they stand as a testament to the evolving nature of digital assets and the potential they continue to hold. <\/p>\n

As a pioneer of Recursive Inscriptions<\/a> and an innovator in blockchain technology, Yang spoke with nft now on the lasting potential of Ordinals. He and his team also gave nft now an inside look at the intricate technological craftsmanship for its latest collaboration with Asprey Bugatti<\/a>. <\/p>\n

From over a decade of experience in Bitcoin-related endeavors, including founding the Stanford Bitcoin Meetup and Maicoin, Taiwan\u2019s largest cryptocurrency exchange, Yang recognizes the transformative potential that the Ordinals protocol brings to the Bitcoin ecosystem.<\/p>\n<\/div>\n

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My “Bitcoin Ordinals is dead.\ud83d\udc80” tweet got 10x more engagement than usual. Does that mean Ordinals is not dead?<\/p>\n

Maybe Bitcoin is dead, and Ordinals is reviving it.<\/p>\n

Either way, Digital Artifacts are a new asset class and Bitcoin is now both a store of value and medium for art.<\/p>\n

\u2014 danny huuep (@huuep) August 21, 2023<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

OCM Dimensions: The first collection to launch Recursions<\/h2>\n
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Credit: OnChainMonkey<\/figcaption><\/figure>\n<\/div>\n

Metagood created OnChainMonkey Dimensions<\/a>, one of the first 10k PFP projects on Bitcoin and the first Recursive Inscription collection. OCM Dimensions showcases the power of Ordinals and stands as a pioneering art collection, demonstrating the innovative use of recursion, composability, and compression on the Bitcoin blockchain. <\/p>\n

OCM Dimensions, inscribed in February 2023, represents a groundbreaking example of inscriptions on Bitcoin. It defies convention by featuring high-resolution, 3D animated art that scales with display size while maintaining a remarkably small file size. <\/p>\n

It has successfully optimized block space efficiency, with each Dimension\u2019s ordinal occupying less than 1 kilobyte. The first 300 Dimensions are inscribed on consecutively numbered satoshis from early January 2009, the third day of Bitcoin\u2019s existence, and feature intricate 3D animation rendered directly from code inscribed on Bitcoin.<\/p>\n

The Bitcoin Ordinals Protocol, according to Yang, is a significant advancement allowing the creation, ownership, and transfer of unique digital assets known as \u2018inscriptions.\u2019 These inscriptions are tied to individual \u2018ordinals,\u2019 the smallest units of Bitcoin, and their ownership is linked to the owner of the corresponding ordinal. <\/p>\n

Yang is confident that protocol presents a novel and impactful addition to the digital asset landscape that is not just a passing fad. He muses that this is only the beginning of the Bitcoin Ordinals era. \u201cA vast expanse of potential is being unlocked on Bitcoin, and soon we\u2019ll witness developers exploring, innovating, and crafting new applications and solutions.\u201d\u00a0Refuting any notion of ordinals no longer being relevant, Ordinals expert Leonidas reveals Ordinals make up 84.9% of the current activity <\/a>on Bitcoin.<\/p>\n

The Asprey Bugatti Egg Collection<\/h2>\n
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\"Asprey<\/figure>\n<\/div>\n

The technical creation process behind the Asprey Bugatti Egg\u2019s 3D generative art<\/a> is a manifestation of the Ordinals protocol\u2019s power showcased through the innovative application of recursion and generative techniques. <\/p>\n

In February 2023, Yang and the MetaGood team introduced this technique to the Asprey team, using code to generate intricate art and inscribe it onto the Bitcoin blockchain. <\/p>\n

The same technique used in OCM Dimensions was instrumental in bringing the Asprey Bugatti Egg to life. As Danny from MetaGood pointed out, the recursive inscription concept, a cornerstone of Bitcoin Ordinals, was \u201cpivotal in making this feat possible.\u201d<\/p>\n

The Asprey Bugatti Egg Collection will be launched both as physical \u201cobjet<\/em>\u201d and generative artwork, with 111 physical eggs linked to Bitcoin NFTs. <\/p>\n

\u201cThe egg is both a physical and digital item. It comes with the physical egg and the digital one, the digital artifact being on Bitcoin.\u201d Yang said. <\/p>\n

The meticulous attention to detail is evident in precisely recreating the physical egg\u2019s dimensions using code. When asked how long it took to code the eggs, Yang says the team had been working on it with Asprey since February.<\/p>\n

\u201cI matched it exactly to the physical with a simple equation with the same dimensions,\u201d Yang added. <\/p>\n

The MetaGood team says the eggs will be deployed and sent to their owners in the next few weeks at the beginning of September. No more information regarding the collection is available as of press time. <\/p>\n<\/p><\/div>\n