The latest trend in non-fungible tokens (NFTs) on the Bitcoin blockchain is the creation of Bitcoin Stamps, with over 18,000 digital collectibles already issued on the network. While this number may be lower than the amount of Ordinal inscriptions, stamp creators are exploring new ways to leverage this technology.
Just 17 days ago, Bitcoin.com News reported on the trend of Bitcoin Stamps, with over 8,000 stamps already minted on the Bitcoin blockchain. Since then, the tally has grown to 18,443 stamps. The trend of creating stamps began following the craze of Ordinal inscriptions, and proponents of stamp technology argue that it enhances permanence, as stamps cannot be pruned like witness or signature data.
Stamp creation comes with a higher price tag than Ordinal inscriptions and the creators suggest using “24×24 pixel, 8-color-depth PNG or GIF” files for encoding stamps. However, creators have managed to develop high-resolution artwork using scalable vector graphics (SVGs). Recently, a user managed to attach an MP3 to a stamp, and the classic game of Snake was also appended to a stamp.
Though still in its early stages, stamps are sold over-the-counter (OTC) and through Emblem Vault sales. The wallet Hiro, which supports Ordinal inscriptions, expressed interest in adding support for Stamps in the future and welcomed Hiro Wallet pull requests on the team’s Github page. In addition, the Rare Stamp platform is a web portal that parses Bitcoin-based stamps, displaying prices and collections. Collections include Stampunks, Bitcoin Flocks, Broken JPGS, Stamp Pepes, Stamp Pepes Not, Stamp Wizards, Pixel Gods, Classic Arcade, Depepes, and more.
Stamp #791 from the Stampunks collection has a floor value of 0.05 BTC or $1,365. While the number of stamps approaches the 20,000 mark, the number of Ordinal inscriptions has surpassed 1.3 million inscriptions as of April 22, 2023. On the same day, the number of Ordinal inscriptions on the Litecoin blockchain was 224,059.
The future of the Bitcoin Stamps trend is uncertain, but stamp creators are sure to continue pushing the boundaries of this innovative technology. The creativity and innovation in the world of digital collectibles are boundless, and it will be interesting to see how this trend develops in the coming months and years.