Proposal details
Project Name
OrdinalX NFT
Project Type
NFT / PFP / NFT MarketPlace
Proposal Description
Over the past two months, the bitcoin space has seen a new and unexpected wave. Since December 14, 2022, more than 200,000 inscriptions have been minted on Bitcoin. These digital carvings are permanently recorded on the world’s oldest and most secure distributed ledger, covering everything from images to text, audio and even applications. Each inscription can then be associated with a unique Satoshi (sat), the smallest unit of Bitcoin. While there are significant differences between Inscriptions and NFTs, it’s fair to say that the native on-chain ecosystem of NFTs has come to Bitcoin in ways never before possible, and its usage has exploded.
OrdinalX. OrdinalX is an open and decentralized platform where anyone can publish their own works or collect others’ works. OrdinalX also supports access to third-party applications and services to provide more functions and experiences. OrdinalX allows users to buy or sell BTC NFTs with IOTX, as well as browse and collect a variety of interesting and unique creations. OrdinalX is linked to verified listings via Emblem Vault, a protocol that allows NFTs to be easily traded across chains, Ordinals Market provides users with all legitimate Bitcoin NFTs to avoid being scammed.
Although it is possible to trade inscriptions natively on Bitcoin, it isn’t always a smooth and user-friendly experience due to the slow speed of the Bitcoin network. The solution is therefore to store each inscription that you wish to trade inside a vault - an ERC-721 token that lives on the IoTeX blockchain and can be traded and transferred just like any other ERC-721 token.
The vault itself contains the encrypted private keys to the Bitcoin address that owns the inscription. It can be cracked open by the owner at any time, decrypting the private keys and allowing the inscription to be claimed directly on the Bitcoin network. If the vault is opened and the Bitcoin private keys are exposed then the ERC-721 token is burned (meaning it can no longer be traded on IoTeX). Alternatively, the vault owner can choose to keep their inscription inside the vault and on IoTeX to allow for easier trading and transfer.
BItcoin Panda. Bitcoin Panda are 4,444 utility-driven, rarity-enhanced PFPs with exceptional traits. As a proud owner of a Bitcoin Panda, you’ll unlock exclusive access to a prestigious private club where the perks amplify the longer you possess your prized Panda. Embrace the future of NFTs by supporting the OrdinalX Market, Bitcoin Pandas community, and DAO. Elevate your PFP game with Bitcoin Panda—cutting-edge innovation meets unparalleled style.
Milestones
[ Split your project into milestones: each one must have its own verifiable deliverables]
- Milestone 1: Launch BItcoin Panda at IoTeX Network
- Duration: 1 Month
- Deliverables: Creation of Website, social media, private server. Uploading framework and coding to private/IoTex server/network
- Funds request: 2,000-2,500 USD
- Milestone 2: Launch BItcoin Panda at Bitcoin Network
- Duration: 1 Month
- Deliverables: Creation of team members. a huge solidity community .
- Funds request: 2,500-3,000 USD
- Milestone 3: Launch Verified Vault and Multichain NFT Marketplace
- Duration: 1 Month
- Deliverables: License Agreement. Alpha released to public for testing. NFT and IoTeX token explained.
- Funds request: 3,000 USD
Total funds requested
7,500-8,500 USD
About your Team
Myshkin: Full Stack Developer, https://www.linkedin.com/in/angran-zhou-4bb889254/
Links
Twitter: https://twitter.com/OrdinalX_NFT
Website: https://www.x-ordinal.com/
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