In the midst of continuous peak calls, the Bitcoin ecosystem has once again given the community a small shock.

On December 19th, the AMM NFT trading platform BakerySwap conducted its first Launchpad, with the project for IDO being the Bitcoin chain game project Bitcoin Cats. The first round will release 2 billion $1Cat tokens, with a limit of 2ETH per participant, and whitelist members are eligible for double allocation. The Launchpad lasted for two hours, with a reported participation of 37,383 ETH and 73 million BAKE tokens, with a total token value of 1.06 billion USD, oversubscribed by 150 times.

On the afternoon of December 20th, $1Cat was listed on Uniswap and BakerySwap exchanges, with a price surge of over 15 times at the opening, reaching 0.007U at the time of writing. What surprised the community more than the huge fundraising and price surge was that its IDO platform BakerySwap became the center of market attention, with its token BAKE seeing a 64% increase today.

Bitcoin Cats: Bitcoin Ecosystem + GameFi + NFT

According to the official website, BitcoinCats is positioned as a GameFi platform within the Bitcoin ecosystem. By mapping Bitcoin assets (BRC20, Ordinals NFT, etc.) to the Ethereum (and other Layer2) network, it brings new gameplay to Bitcoin assets, including but not limited to Play2Earn, staking, farming, and SocialFi.

The token 1Cat, which saw a price surge of over 10 times in the first half hour of trading, is the native token of the Bitcoin Cats game ecosystem, with a total supply of 10 billion, of which 2 billion were released in this issuance. According to the official website, 1Cat can be used to purchase and upgrade in-game assets, including avatars, pets, equipment, and farmland. It can also serve as a ticket, allowing players to access special features of the game.

In addition to being a utility token within the game ecosystem, "it is also a meme coin, with a super cute cat as its logo."

1Cat is a BRC20 token and also an ERC20 token. The team explained that "it was originally engraved on Bitcoin, with some of it being bridged/packaged to Ethereum." In this Lanchpad, the team distributed a mix of BRC20 and ERC20 1Cat tokens to participants with larger allocations in BRC20 addresses, while others only received ERC20 tokens. The team's explanation was that "as 1Cat is about to be listed on multiple centralized exchanges, there is no need to worry about the price difference between BRC20 and ERC20 tokens."

With this setup, if Bitcoin Cats can truly realize its vision, there are many obstacles to overcome in the flow of in-game assets. Depending on the recent development of Bitcoin cross-chain protocols and DEX protocols, BRC20 and ERC20 tokens can already be exchanged, but there is still some distance to go before they can be applied to the game ecosystem. In addition, as both a governance token and a meme coin, the team needs to consider how to stabilize the value of the 1Cat token in the game's design.

In addition to tokens, Bitcoin Cats has also launched Bitcoin Cats NFT assets, which are pixelated cartoon cat NFTs engraved on Ordinals, with a total of 10,000. The official website of Bitcoin Cats has already mentioned various ideas about its IP ecosystem, involving different media forms and product fields, including video shorts, games, AR & VR (augmented reality and virtual reality), metaverse, and toy models.

Currently, BitcoinCats NFT has not been released for sale, and whitelist eligibility for NFT airdrops can be obtained through staking 1Cat tokens. In addition, the official website provides a channel for downloading BitcoinCats NFT images, and users who use BitcoinCats NFT images as their social media avatars also have the opportunity to qualify for the NFT whitelist.

Bitcoincats has not yet released specific information about the game. According to the official website, the game may involve gameplay such as battles, social interaction, and farming, and its official website went live on December 11th. After the successful IDO, Bitcoin Cats posted a "brief roadmap" on social media, starting with the activity of staking 1 Cat tokens to obtain NFT whitelist eligibility, followed by the launch of Bitcoin Cats' first game, which will involve 3D metaverse elements, but did not mention a specific timeline.

In addition to BakerySwap, BitcoinCats has also partnered with the Bitcoin ecosystem-focused IDO platform Turtsat. During the IDO preheating period, Web3 social platform Port3Network, and the inscription market Ave.ai, among other projects, also announced their cooperation with BitcoinCats.

Early positioning is popular, but can it be sustained?

It must be said that the narrative of being the "first game platform in the Bitcoin ecosystem" is indeed attractive, but in terms of the project itself, Bitcoin Cats has not fully demonstrated its gaming capabilities to the community. At present, the close association between the token 1 Cats and the "game platform" does not seem significant. Some in the community have pointed out that the art style of BitcoinCats is very similar to a chain game called Worldwide Webb, which is a pixel-style metaverse MMORPG game known to the NFT community and has received tens of millions in funding.

It can be confirmed that, compared to the game itself, the market values the narrative space of the Bitcoin ecosystem. As the first game platform in the Bitcoin ecosystem, Bitcoin Cats' early positioning advantage has attracted the favor of the market and the FOMO sentiment of investors. However, unlike inscriptions, the project still needs to demonstrate its real capabilities to truly retain the influx of funds.

It is worth noting that the win-win cooperation between Bitcoin Cats and BakerySwap is not the first case in the Bitcoin ecosystem boom. TurtSat, a platform that announced that it does not accept any investment and is dedicated to conducting IDOs for Bitcoin ecosystem projects, has already conducted Launchpads for 5 projects in the past month and stated that more than 20 projects are still on the IDO path. Its token TURT has also seen a price surge of over 10 times in the past month. On December 21st, TurtSat also announced a strategic partnership with DWF Labs.

Related reading: "TurtSat: Incubating the 10x surge $MUBI in the 'BRC-20 experiment,' how far can the IDO platform focused on Ordinals ecosystem go?"

Attention is easy to attract, but consensus is not easy to gather. After the boom, how these projects will perform will be continuously monitored by BlockBeats.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。