Apr 10, 2023
Jamil Dhanani is the co-founder of Gamma, the open marketplace for Bitcoin NFTs, including STX and Bitcoin Ordinals.
Gamma is a Bitcoin-based NFT marketplace and a home for your Web3 social identity. Gamma started as an open marketplace for Bitcoin-secured NFTs on the Stacks blockchain, and has since added support to view Ethereum NFTs, and most recently support for Ordinals — including a no-code creator portal for Ordinal inscriptions.
Thanks to Ordinal Theory (which references the ordering of individual Satoshis), we can now inscribe data onto single Satoshis on the Bitcoin blockchain directly and transact them like NFTs. Whether it’s an image, a memo, or anything else you want to inscribe, this data is truly immutably and securely stored directly on the L1 Bitcoin Blockchain.
Before NFTs took off on Ethereum, NFTs had originated on Bitcoin. But due to the complexities and limitations of the Bitcoin blockchain, Bitcoin-native NFTs could never really take off — until now. At the time of writing, nearly 200,000 inscriptions have already been made, and creating your own inscriptions are easier than ever thanks to Gamma’s no-code Ordinal inscription tool. With the rise in interest around Ordinals, Bitcoin blockchain activity has increased greatly, giving miners more fees and putting positive effects on the security and decentralization of Bitcoin. And because of Bitcoin’s robustness, every inscription is immutably and permanently secured on the Bitcoin blockchain.
Stacks is a smart contract layer for Bitcoin that brings extra functionality to the Bitcoin base layer, allowing us to build everything from DeFi to Bitcoin-secured NFTs. Because Stacks allows for scalability and functionality beyond Bitcoin, we can create a robust ecosystem of Bitcoin-secured NFTs using the Stacks blockchain.
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