GAME•OF•BITCOIN: The First GameFi Runes Token on Bitcoin
The launch of the Runes Protocol on Apr 19, 2024, has quickly led to the creation of thousands of fungible tokens on Bitcoin (BTC). Based on Bitcoin's native unspent transaction outputs (UTXOs) and featuring high efficiency, Runes tokens have proved to be highly popular. The number of Runes tokens on the Bitcoin network has crossed the 68,000 mark by early May, less than a month since the start of the protocol's operations.
However, despite their potential in the realms of DeFi and beyond, most Runes tokens don't feature any existing or planned use cases beyond acting as meme coins. Only a select few Runes assets are anticipated to power some applied functionality.
One key area for potential application of Runes-based Bitcoin cryptos is GameFi — a critical niche of the blockchain industry that opens up play-to-earn (P2E) and other engage-to-earn (E2E) opportunities for web3 gamers. GAME•OF•BITCOIN (GAMES), one of the earliest Runes, is quickly shaping up as the undisputed leader of the GameFi category in the Runes universe.
Key Takeaways:
GAME•OF•BITCOIN (GAMES) is the leading gaming-related Runes token on Bitcoin.
Rune #111, GAME•OF•BITCOIN, is one of the earliest Runes tokens. It was created at Bitcoin block #840,000, the inaugural block for Runes.
The token possesses P2E gaming use cases and will potentially support additional utility in the future.
What Is GAME•OF•BITCOIN?
GAME•OF•BITCOIN (GAMES) is a gaming-focused Runes token on the Bitcoin blockchain. The token is among the earliest Runes cryptos on the Bitcoin blockchain, etched at block #840,000, which served as the starting point for Runes. GAME•OF•BITCOIN is Runes token #111.
Unlike most other Runes assets, GAME•OF•BITCOIN has applications beyond that of just a meme coin. Launched by game development outfit Ordz Games, the token is designed to support gaming and possibly even decentralized physical infrastructure network (DePIN) use cases. GAME•OF•BITCOIN is the first and probably most notable GameFi token within the Runes ecosystem.
According to CoinGecko, the GAME•OF•BITCOIN token has a maximum supply of 21 million, all of which had been pre-minted by Ordz Games. There are currently fewer than 200 holders listed for the token, with the issuer still controlling the bulk of the supply.
GAME•OF•BITCOIN and Ordz Games
Ordz Games is a Singapore-based developer of blockchain games and gaming-related products for the Bitcoin ecosystem. The company has released a series of Bitcoin Ordinal inscriptions, called Ordz Heroes, dedicated to a variety of retro games.
You can earn points and crypto rewards by playing the games released by the company. Reward points accumulated in the games can be exchanged for ORDG tokens — a fungible cryptocurrency based on the BRC-20 token standard.
The developer has already started offering the option to earn GAME•OF•BITCOIN tokens through participation in Ordz Games' Season 5.
Staking ORDG For GAME•OF•BITCOIN
Another way to earn GAME•OF•BITCOIN tokens, besides playing the games released by Ordz Games, is via staking ORDG. Using the staking option offered by the developer, you can lock ORDG in order to earn rewards in GAME•OF•BITCOIN.
Where to Buy GAME•OF•BITCOIN
Currently, the GAME•OF•BITCOIN token isn't widely available on either major centralized or decentralized exchanges. The primary trading platform for Bitcoin Runes, including the GAME•OF•BITCOIN token, is Magic Eden, a popular multichain marketplace featuring affordable transaction fees that originally included Solana-based assets. It now also offers items from different platforms, including Bitcoin Ordinal NFTs, Runes tokens, rare sats and more.
Closing Thoughts
GAME•OF•BITCOIN is among the rare Runes tokens that might grow to support an extensive ecosystem of games and other blockchain initiatives. Of course, much of the token's potential will depend upon Ordz Games' ability to expand its user base. Releasing the token was the easy part; attracting gamers in the highly competitive GameFi niche is a much harder task.
If Ordz Games takes off as a prominent blockchain gaming platform, it will certainly spell strong growth and long-term relevance for the GAME•OF•BITCOIN token. Another intriguing possibility is the use of the token in applications such as DePIN. So far, this has been limited to Ordz Games' announcements of such potential applications. Some investors might be awaiting the release of more precise details before passing judgment.
In any case, Ordz Games' eagerness to find functional use cases for the GAME•OF•BITCOIN token is commendable, particularly in the context of the countless Runes tokens designed for nothing other than meme-ignited giggles.
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