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$OXBT | Friday, May 19 2023
Update: Mint Guide →
Over the past several weeks, ordinals and BRC-20 token popularity has been exploding on the Bitcoin network, sustaining a total market cap of over $500M.
A list of BRC-20 tokens and their market caps can be viewed here: https://brc-20.io/
A developer known as BitGod21 has been planning a BRC-20 token launch over the past several weeks, and his twitter has blown up from ~1k followers to over 85k followers in a very short period of time.
The token he will be launching is $OXBT and it will be mint-able for free (+ a Bitcoin tx fee) in the coming days (no specific date given).
Considering the large following and hype this launch has received and the very low risk involved with minting (just a $5 - $30 tx fee), we believe it is a worthwhile endeavor to try to mint $OXBT when the time comes.
We do not have enough details on the token supply or mint allocation per wallet to make estimates on how much this opportunity could be worth, but given the current size and growth of the BRC-20 token market, plans from OKX and Binance to list BRC-20 tokens, and the hype this launch has received coupled with the very low risk involved with minting (just a $5 - $30 tx fee), we believe it is a worthwhile endeavor to try to mint $OXBT when the time comes.
Note: Most, if not all, BRC-20 tokens at this time lack utility.
Even the founder of $OXBT admits that this is an experiment and there is not necessarily any utility.
Lastly, it seems increasingly likely that the founder is purchasing bot followers on Twitter.
85,000 followers in such a short period of time is extraordinarily difficult to achieve.
For reference, Ben.eth, who has been at the center of crypto twitter controversy for weeks only has 58k followers, up about 30k or so in the past two weeks.
These things mean $OXBT should be considered a quick flip, not a long-term investment.
A full guide on BRC-20 tokens has been posted in the Research Hub here:
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It is recommended to follow https://twitter.com/BitGod21 on Twitter and turn on notifications to make sure you do not miss mint instructions & details.