SATOSHIS VISION Token (SATS): A New Way to Create and Trade NFTs on Bitcoin

by Nov 13, 2023NFTS Metaverse0 comments

NFTs or non-fungible tokens have become increasingly popular and valuable in the crypto space, as they offer users a way to express their creativity, personality, and identity, and to own and trade digital assets that have cultural and economic significance.

However, most of the existing NFT platforms and projects are based on Ethereum, which is the second-largest blockchain network in the world. Ethereum has some limitations and challenges, such as high fees, low scalability, and environmental concerns. Moreover, Ethereum is not compatible with Bitcoin, which is the oldest, largest, and most secure blockchain network in the world.

This is where the SATOSHIS VISION Token (SATS) comes in. SATOSHIS VISION Tokens (SATS) is a novel and innovative project that aims to bring NFTs to the Bitcoin blockchain and to leverage the security, scalability, and decentralization of Bitcoin. SATOSHIS VISION Token (SATS) is based on the Ordinals protocol, which is a numbering scheme for satoshis, the smallest units of Bitcoin. The Ordinals protocol allows users to assign data to individual satoshis, such as images, text, or metadata, and to track and transfer them as unique and identifiable tokens.

SATOSHIS VISION Token (SATS) is the first and only BRC-20 token, which is a standard for tokens that are compatible with the Bitcoin network and is different from ERC-20 tokens. SATOSHIS VISION Tokens (SATS) have a total supply of 1 billion tokens, and they follow a deflationary model, meaning that the supply will decrease over time. 

Why Was SATOSHIS VISION Token (SATS) Created?

Most NFT platforms use Ethereum, but Ethereum has limitations like high fees, slow processing, and environmental concerns. It’s also not compatible with Bitcoin, which is a secure and widely used blockchain.

SATOSHIS VISION Token (SATS)

SATOSHIS VISION Token (SATS) solves these issues. It brings NFTs to the Bitcoin blockchain, taking advantage of its security and scalability. SATS is based on the Ordinals protocol, which lets users attach data to small units of Bitcoin called satoshis, like images or text, and track them as unique tokens.

SATS is the first BRC-20 token for Bitcoin, different from the ERC-20 tokens used on Ethereum. There are 1 billion SATS tokens, and their supply decreases over time. Read our article about “The Best Bitcoin NFTs in 2023.”

What Are the Functions and Features of SATOSHIS VISION Tokens (SATS)?

SATOSHIS VISION Tokens (SATS) have the following functions and features:

  • Utility: SATOSHIS VISION Tokens (SATS) are used as the medium of exchange and the reward mechanism in the Ordinals’ ecosystem. Users can use SATOSHIS VISION Tokens (SATS) to inscribe data and create NFTs on the Bitcoin blockchain, and to access premium features and services, such as exclusive NFTs, special items, and VIP memberships. Users can also earn SATOSHIS VISION Tokens (SATS) by participating and engaging in the Ordinals ecosystem, such as by dropping and hunting treasure chests, joining and creating communities, interacting and collaborating with other users, and contributing to social causes and environmental projects.
  • Governance: SATOSHIS VISION Tokens (SATS) are used as the governance token in the Ordinals ecosystem, meaning that holders of these tokens have the right and the power to vote and decide on the future development and direction of the project. Users can also propose and initiate changes and improvements to the Ordinals ecosystem, and receive support and feedback from other users.
  • Staking: SATOSHIS VISION Tokens (SATS) are used as the staking token in the Ordinals ecosystem, meaning that holders of these tokens can lock their tokens in a smart contract and receive rewards in return. Users can also benefit from the increased security and stability of the Ordinals ecosystem, and from the reduced supply and increased demand of the SATOSHIS VISION Tokens (SATS).
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SATOSHIS VISION Tokens (SATS) are a revolutionary and exciting project that combines NFTs, Bitcoin, and gaming to create a unique and immersive experience for users. SATOSHIS VISION Tokens (SATS) allow users to drop or hunt for treasure chests in the real world, using their smartphones as a portal to the digital world. Users can earn rewards in the form of SATOSHIS VISION Tokens (SATS), which are the native currency of the Ordinals ecosystem.

SATOSHIS VISION Token (SATS)

SATOSHIS VISION Tokens (SATS) aim to bridge the gap between the metaverse and the physical world and to enable users to embark on adventurous quests, interact with other users and communities, and to explore and learn about different places and cultures. SATOSHIS VISION Tokens (SATS) is a project that has the potential to revolutionize the NFT and gaming industry and create a positive impact on the world.

What is the Ordinals Protocol?

The Ordinals Protocol is a project created by Casey Rodarmor, a software engineer who loves Bitcoin. It was launched in January 2023 and is an open-source system. This protocol is designed to work with satoshis, which are the smallest units of Bitcoin. 

With the Ordinals Protocol, users can attach different types of data, like images, text, or descriptions, to individual satoshis. These pieces of data can then be tracked and transferred as unique tokens. The protocol achieves this through a process called inscription, where data is embedded into the Bitcoin blockchain. It uses a special type of transaction called OP_RETURN, which allows up to 80 bytes of data to be included without affecting the transaction’s security.

The Ordinals Protocol also uses another technique called ordinalization. This assigns a unique number to each inscribed satoshi. The ordinal number is determined by a specific algorithm that uses information like the transaction ID, output index, and output value of the satoshi. This allows users to identify and verify the authenticity and ownership of any inscribed satoshi on the blockchain.

By enabling the development of NFTs on the Bitcoin blockchain, the Ordinals Protocol allows for the creation of digital assets that represent unique and scarce items, such as art, collectibles, or gaming items. NFTs have gained popularity because they provide a way for people to express themselves, own, and trade digital assets that have cultural and economic value. If you want to learn more, read our article about “What Are Bitcoin Ordinals and How Do They Differ From NFTs?.”

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What Are the Benefits of the Ordinals Protocol?

The Ordinals protocol offers several benefits for its users, such as:

  • Security and reliability: The Ordinals protocol leverages the security and reliability of the Bitcoin network, which is the oldest, largest, and most robust blockchain in the world. By using the Bitcoin network, the Ordinals protocol ensures that the inscribed data and the NFTs are immutable, tamper-proof, and censorship-resistant and that the transactions are fast, cheap, and transparent.
  • Scalability and efficiency: The Ordinals protocol leverages the scalability and efficiency of the Binance Smart Chain (BSC) network, which is a high-performance and low-cost blockchain that is compatible with the Bitcoin network. By using the BSC network, the Ordinals protocol enables the creation and transfer of BRC-20 tokens, such as SATOSHIS VISION Tokens (SATS), which are faster, cheaper, and more flexible than native Bitcoin transactions. The BSC network also supports smart contracts, which allow users to create and execute complex and customized rules and logic for their NFTs and tokens.
  • Innovation and diversity: The Ordinals protocol leverages the innovation and diversity of the NFT and gaming industry, which is one of the most dynamic and exciting sectors in the crypto space. By using the NFT and gaming industry, the Ordinals protocol enables users to access a wide range of digital assets and experiences, such as art, collectibles, gaming items, virtual worlds, and social networks. The Ordinals protocol also allows users to create and customize their own NFTs and tokens, and to express their creativity and personality.

How Can You Get SATOSHIS VISION Tokens (SATS)?

There are several ways to get SATOSHIS VISION Tokens (SATS), such as:

1. Dropping and hunting treasure chests 

Within the Ordinals ecosystem, users have the opportunity to earn SATOSHIS VISION Tokens (SATS) through the exciting activity of dropping and hunting treasure chests. By participating in this treasure hunt, users can acquire these tokens. Additionally, users can unlock bonus tokens by successfully completing specific tasks and challenges. These tasks may involve discovering rare or hidden treasure chests or opening a predetermined number of chests within a specified timeframe. It’s worth noting that treasure chests are unique NFTs that contain the tokens. These chests can be found or pursued anywhere globally, utilizing augmented reality (AR) technology.

2. Participating and engaging in the ordinal ecosystem

Users can earn SATOSHIS VISION Tokens (SATS) by actively participating in the Ordinals ecosystem. This can involve joining and creating communities, interacting and collaborating with other users, taking part in events and competitions, and contributing to social causes and environmental projects. By engaging in these activities, users have the opportunity to acquire SATOSHIS VISION Tokens (SATS). Additionally, users can share their stories and achievements with the community, receiving valuable feedback and recognition for their contributions.

3. Buying and selling SATOSHIS VISION Tokens (SATS) 

Users can buy and sell SATOSHIS VISION Tokens (SATS) on various platforms and exchanges, such as Binance, DODO, and Ordinals’ own decentralized exchange (DEX). Users can also use SATOSHIS VISION Tokens (SATS) to trade and exchange for other digital assets and currencies, such as BNB, BUSD, and ETH.

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4. Staking and holding SATOSHIS VISION Tokens (SATS)

Users can stake and hold SATOSHIS VISION Tokens (SATS) in a smart contract and receive rewards in return. Users can also benefit from the increased security and stability of the Ordinals ecosystem, and from the reduced supply and increased demand of the SATOSHIS VISION Tokens (SATS).

Where & How to Buy Satoshis Vision (SATS)?

Here’s the step-by-step guide on where and how to buy Satoshis Vision (SATS):

Step 1: Download Trust Wallet: Choose Trust Wallet as your crypto wallet. If you’re on a computer, download the Google Chrome extension. If you prefer using your mobile phone, get the app from Google Play or the iOS App Store. Make sure to download the official version from Trust Wallet’s website.

Trust Wallet

Step 2: Set up Trust Wallet: Register and set up your Trust Wallet by following the instructions on the support page. Keep your seed phrase safe and note down your wallet address for later use.

Step 3: Buy Ethereum: Log in to your Binance account and go to the Binance Crypto webpage. Purchase Ethereum as your base currency. If you’re new to Binance, you can refer to a guide on how to buy Ethereum on Binance.

Step 4: Send Ethereum to Trust Wallet: Once you’ve bought Ethereum, go to your Binance wallet section. Find the Ethereum you purchased and click on “withdraw.” Provide the required information, including your Trust Wallet address and the amount you want to transfer. Click “withdraw” and wait for your Ethereum to appear in your Trust Wallet.

Step 5: Choose a Decentralized Exchange (DEX): Select a DEX that supports Trust Wallet. For example, you can use 1inch if you’re using Trust Wallet.

Step 6: Connect Trust Wallet: Connect your Trust Wallet to the chosen DEX by using your wallet address from Step 2.

Step 7: Trade Ethereum for Satoshis Vision: Select Ethereum as your payment and choose Satoshis Vision as the coin you want to buy.

Step 8: Find Satoshis Vision Smart Contract: If Satoshis Vision doesn’t appear on the DEX, you can find its smart contract address on etherscan.io. Copy and paste the official contract address to ensure you’re not falling for a scam.

Step 9: Complete the Swap: Once you’ve followed the previous steps, click on the “Swap” button. Congratulations! Your crypto transaction is now complete, and you’ve purchased Satoshis Vision (SATS).

Conclusion

In conclusion, SATOSHIS VISION Token (SATS) offers a new and exciting way to create and trade NFTs on the Bitcoin blockchain. While NFTs have gained popularity on Ethereum, SATOSHIS VISION Token (SATS) aims to leverage the security, scalability, and decentralization of Bitcoin. By utilizing the Ordinals protocol, the SATOSHIS VISION Token (SATS) allows users to assign data to individual satoshis, making them unique and transferable tokens. SATOSHIS VISION Token (SATS) is the first and only BRC-20 token, specifically designed for compatibility with the Bitcoin network. With a total supply of 1 billion tokens and a deflationary model, SATOSHIS VISION Token (SATS) presents an exciting opportunity for users to participate in the growing NFT space on the Bitcoin blockchain.

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