In partnership with the inscription platform OrdinalsBot, the Bitcoin-focused intellectual property (IP) project Royalty has minted a unique collection of 1,935 generative images titled “Elvis Side $Btc.” This series is inspired by the work of Joe Petruccio, an artist licensed by the Elvis Presley Estate. By using the Ordinals protocol, data can be permanently “inscribed” onto individual satoshis, the smallest unit of Bitcoin (1/100,000,000 of a full Bitcoin). This makes each satoshi one-of-a-kind and capable of holding individual value, much like how non-fungible tokens (NFTs) function on the Ethereum network. These inscriptions are considered the Bitcoin version of NFTs, which gained massive popularity in 2021.
OrdinalsBot, the platform involved in creating these inscriptions, has emerged as a key player in the development of Bitcoin’s digital art and inscription scene. It claims to be responsible for 80% of the top 10 largest files ever inscribed onto the Bitcoin network, including the biggest block—a manifesto from the privacy-centric tech project Logos, which cost 3.5 BTC (around $235,000). These large inscriptions, known as “four meggers” due to their nearly 4 MB size (the maximum allowed for a Bitcoin block), are a significant development within the Bitcoin ecosystem. According to Toby Lewis, co-founder of Ordinals, acquiring such a large inscription is like purchasing a billboard in Times Square, as the visibility and permanence they provide on the Bitcoin network are invaluable. However, the Elvis-themed collection consists of more standard-sized inscriptions, not the larger “four meggers.”
Royalty plans to release a litepaper in the coming weeks to explain how 5% of both primary and secondary sales will go toward funding the Elvis Legacy Council. This decentralized autonomous organization (DAO) will be tasked with governing the future of Elvis Presley’s digital legacy through a native token, ensuring his influence endures in the digital world.
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