The battle for the leadership of Bitcoin NFT: Node Monkey and Bitcoin Frog

Source: Daoshuo Blockchain

In the comments below the articles in the past two days, a reader asked me what I think about Node Monkey and Bitfrog.

NFT has always been one of the areas that I am more concerned about and I like to participate in. It just so happens that these two projects are also projects that I have been paying attention to for a while. So in today’s article, I share some thoughts on these two projects based on my own observations during this period.

Node Monkey and Bitfrog have now become the leading projects in the Bitcoin Inscription ecosystem, and the two are vying for the top spot.

There is a big gap between my previous expectations for these two projects and their current trends. This difference in expectations is related to the topic I mentioned in yesterday’s article about the “inconsistency” between project development and investor expectations.

But in yesterday's article, I mainly expressed what I would do when the development of the project lags behind my expectations. These two projects can be used to show what investors can do when the trend of a project is stronger than investors' expectations.

Before the inscription ecology of Bitcoin started, the NFTs I paid attention to were mainly the NFTs in the Ethereum ecosystem and the NFTs in the Bitcoin ecosystem before 2017.

Therefore, I have not paid much attention to NFT in the Bitcoin ecosystem after the rise of Inscription. The only time I paid attention was when Twelve Fold was released by the Boring Ape team. I also participated in the auction that time, but the poor participation experience and the weak subsequent trend of the project ruined the impression of my only participation.

So since then, I have never paid special attention to NFTs in the Bitcoin Inscription ecosystem.

I started to know about Bitfrog in April or May last year. At that time, many advantages of this project were listed on the Internet: for example, it is sufficiently decentralized, and its style is reminiscent of the first large-scale meme NFT Pepe the Frog in the Bitcoin ecosystem, etc.

But these were not that amazing to me at the time. Especially the so-called "reminiscent of Pepe the Frog" really makes me disagree: The design of this Bit Frog is honest and well-behaved in style, and it does not have the anti-traditional, anti-authority, satirical reality, and satirical centralization of Pepe at all. the taste of.

Don’t compare to Pepe, it can’t even compare to Cryptopunk and Boring Ape.

So I have never been interested in it. Even when it dropped to about 0.02 Bitcoin between June and October last year, I did not buy it.

In November last year, when the Inscription ecology exploded again, among the BRC-20 tokens, ORDI began to rise steadily; while among the Inscription NFTs, the price of Bitfrog began to rise rapidly.

At that time, the Bitfrog community began to become more and more powerful, and the image of Bitfrog began to be used as avatars by more and more users. Since then, the gap between Bitfrog and other avatar-type inscription NFTs has begun to become wider and wider. In my mind, its price exceeded 0.4 Bitcoin at its highest.

During this period, there were also some inscription NFTs that were expected to surpass Bitfrog and become the leader of avatar NFTs, such as Big Goose. But no one can truly surpass Bitfrog in a stable and long-term manner.

All these signs indicate that in the Bitcoin Inscription NFT ecosystem at that time, Bitfrog was already the leader in the avatar NFT category.

All this did not change until the appearance of Node Monkey.

I know about Node Monkey because some time before it was released, many people on Twitter were spreading the word about this project and promoting its many features: such as the first 10K collection of avatar NFTs , the first inscription NFT with separate inscription and sale, etc.

But my first impression of Node Monkey was not as good as Bit Frog.

First of all, its image is too difficult to identify. I don’t say whether it looks like a monkey or not. Just look at its picture. Without prompts, I’m afraid it’s hard for most people to figure out what it is. I feel like It's just a simple pile of pixels.

Secondly, its sales method is unfair and obviously favors the big Vs.

Finally, its launch price is relatively not cheap.

So in my opinion, many of the so-called characteristics of Node Monkey do not look like the characteristics that a leading project should have. It’s hard for me to imagine this project becoming popular in the future.

But the fact is that the marketing methods of this project, especially in overseas communities, may be more in line with the characteristics of overseas users. Therefore, since its launch, its price and popularity have been on a steady upward trend. It has even surpassed Pit Frog many times, and can even maintain its head position for a period of time from time to time.

Therefore, we have to admit that it and Bitfrog are now the two leading projects of Bitcoin Inscription NFT.

So, both projects have now far exceeded my expectations for them. In this case, I choose to acknowledge the market's choice.

So which one, Node Monkey or Bit Frog, can become the leader of the inscription NFT avatar category?

Since such projects do not involve any technology at all, their strength and trend depend entirely on the consensus and cohesion of the community. I think the consensus and cohesion of the community can be measured by two indicators:

One is in the current adjustment, which project is more resilient and which project's price can still occupy the leading position during the adjustment. ; The other is to see which project's community can continue to strengthen its consensus and allow more users to promote and display it.

As for the first indicator, based on my recent observations, the two are very closely tied, and I can’t see which one has a clear advantage.

For the second indicator, let’s let time give the answer.

As far as my own preferences are concerned, although I don’t like either project too much. But if you have to choose one between the two, I would still prefer Bitfrog.