Did you click this article because you want to know about rare satoshis? Or is it because Elena wants to drop an exclusive NFT collection on rare satoshis? Either way, you’re in the right place. This year’s NFT hype started with a boom and slowly fell off a cliff. Got us thinking that NFTs are dying for a while. But I got news for you, there’s so much in store for NFTs. It’s also very controversial whether using Bitcoin’s blockchain for NFTs make any sense! Let’s cover this all and more in under 5 mins!
What Are Rare Satoshis?
Ordinals, Bitcoin NFts , BRC-20 tokens and now Rare Satoshis? If it’s all too confusing, I got you. Just follow this train of thought.
Satoshi is the smallest unit of Bitcoin currency, named after Bitcoin’s founder Satoshi Nakamoto. So, if Bitcoin is a dollar, satoshis are the pennies.
1$ = 100 Pennies → 1 Bitcoin = 100,000,000 Satoshis
Every Bitcoin NFT is actually attached to a Satoshi. Therefore, Satoshis kind of store data with them. This is the case of JSON text files of BRC20 tokens. Now, think of Ordinals as a numbering system to track satoshis. That’s basically it.
Rare Satoshis
Now that we got the basics down, let’s recall some Bitcoin blockchain basics:
Every 10 minutes → A new Bitcoin block is mined.
After every 2,016 Bitcoin blocks → It gets more difficult for miners to solve the equation that results in a mined block.
‘Rare Satoshis’ are the FIRST Sat of the first block in a new difficulty epoch.
Every 20,160 minutes (14 days) → 1 Rare Sat is created
→ 26 Rare Satoshis are Created per year.
→ There are 375 Rare Sats in 15 years of Bitcoin.
→ Collectors known as “sat hunters” are collecting satoshis from rare Bitcoin
→ Rare Sats are worth WAY more than regular Bitcoin.
Hence the name “rare satoshis”. If you want to dive deeper, check out this guide!
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Introducing ‘Atomic Ordinals’ by Elena
Pioneering Rare Satoshis with a promising NFT project is non other than Elena. If you don’t already know her, here’s a quick recap:
- Best known for El’s Daily Rewinds since Q3 2022
- Researcher in Residence for Azuki since early 2023
- First to join the council of NFTinspect in 2023
- Co-founder of a group called Citadalxyz – an aspiring Ordinals community.
- Recently graduated pre-med from Cornell (Yes Elena is a Doctor-to-be!)
- An artist who illustrates variations of her Azuki Avatar in her Tweets.
On June 10, she took her 89.3K followers by blissful surprise and announced her Rare Satoshi NFT Collection. This is the first time Elena utilizes her art for an NFT collection. Thus, making Atomic Ordinals her NFT art genesis drop.
I'm launching an exclusive 1/1 small supply of on-chain art on rare sats
Here's everything you need to know about it 🧵👇
1/18 pic.twitter.com/5n1FT1iJEt
— Elena🌸 (@ElenaaETH) June 10, 2023
Atomic Ordinals
Drop Date: TBA
Chain: Bitcoin – Rare Satoshis
Supply: 250 (~200 mintable)
Price: TBA
WL: In process – via AlphaBot
- Atomic Ordinals is an NFT collection of 1/1 pixelated NFTs hand-drawn by Elena.
- It’s an on-chain art project that is inscribed completely on rare Satoshis.
- Small size collection with an extremely curated community.
- It will be a case study, on execution from ideation to product rollout, highlighting everything and everyone involved.
For Elena the project incorporates three of her greatest passions in life: Medicine, emerging technology, and artistic expression.
Because it’s a very special project for Elena, the WLs will be handpicked by her. So, keep your eye on Atomic Ordinals and Elena’s Twitter for a chance.
What’s The Big Deal With Rare Satoshis?
Actually, it’s a matter of perspective. Also, a bit philosophical. People care about owning a piece of history. Inscribing current-day data to “historical” ground-breaking technology is a big deal, sentimentally. Imagine being able to carve your name on Da Vinci’s Monalisa , or Van Gogh’s Starry Night…Kinda makes my skin crawl. But why wouldn’t anyone hype over such a possibility?
Now an emerging NFT figure is paving the way for putting her mark , her story on Rare Satoshis. This article is not urging you to buy her NFTs, but rather witness the first of many future attempts to change the Bitcoin blockchain. It will now slowly turn to a digital museum of artefacts. The future of web3 indeed keeps taking twists and turns.