Nick from Gamma explains how Bitcoin ordinals differ from traditional NFTs and introduces Signals - a platform solving the broken price discovery process that forces users to jump through ridiculous hoops just to buy digital collectibles.
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Nick, co-founder of Gamma, joins us to talk about the broken NFT market discovery process and how their new platform Signals fixes the ridiculous whitelist system. We dive into Bitcoin ordinals vs traditional NFTs, why inscriptions are superior to off-chain storage, and how auction-style price discovery creates fairer markets for creators and collectors.
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Notes:
• Tens of thousands of Bitcoin nodes store inscriptions
• 2021 marked peak NFT hype cycle craze
• Most NFT data stored on centralized servers
• Signals uses auction clearing price model
• Bitcoin inscriptions permanently on-chain
• Traditional NFTs just track ownership
Timestamps
00:00 Start
00:49 Inscribing Vegas conference
02:47 NFT market currently
05:45 Market participants
11:44 Why are Ordinals & Inscriptions interesting?
20:36 Arch Network
21:08 Price discovery (it's harder than it looks)
29:09 Signals Art
39:54 Blockspace
40:43 Is a market equilibrium possible?
45:05 Wrap up
47:53 Invite code #BS2
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