May 4, 2023

MR PRO | Are Bitcoin NFTs and L2s The Next Big Thing?

GM DOers!

Kyle here. 👋

Bitcoin NFTs are having a moment… again! 🚀

When NFTs launched on Bitcoin earlier this year it took many by surprise.

There was some solid growth initially, but it was hard to understand if this would be something sustainable or just another fad in the crypto space.

After all, if you tried to mint a Bitcoin NFT, the experience felt like minting an NFT on Ethereum back in 2018… Limited tools to support the technology and a terrible UX. 😣

We’re now a few months into Bitcoin NFTs and there seems to be no signs of slowing down.

Not to mention, some very interesting technologies, projects, and tools are popping up to support the Bitcoin NFT ecosystem.

Stacks has really stood out as a viable layer 2 solution that allows for NFTs and other applications to be built on top of the Bitcoin blockchain.

This has the potential to be a really big deal, considering Bitcoin is the largest cryptocurrency by market cap, has a massive global community, and remains the most decentralized blockchain today. 🌏💪

Building on top of an ecosystem like this could prove to be very useful, and the opportunities are exciting.

While it’s still VERY early stages, it’s large enough that it’s worth looking into and understanding.

That’s why we brought in Chris Sotraidis, the author of the Spatial Awareness Newsletter to give us an overview of what’s happening with Bitcoin NFTs and the new Stacks revolution.

Enjoy! 😊✌️

Introducing… Stacks

Hey DOers, I’m Chris Sotraidis, and it’s a pleasure to be sharing my insights with you today! Let’s dig in… 👇

As the world of blockchain and cryptocurrency continues to evolve, innovative solutions such as the Stacks ecosystem emerge to address the limitations of existing networks.

Stacks brings a new level of utility and functionality to Bitcoin.

In this intro, we will delve into the intricacies of the Stacks ecosystem, its unique tokenomics, the innovative concept of Bitcoin Ordinals, and notable NFT projects building on the platform.

Stacks Ecosystem Overview

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