This is possible thanks to the Gamma.io marketplace. Among its main services is the possibility of creating NFTs on Bitcoin without the need to develop any code.
Before explaining in detail this new tool offered by the Gamma.io platform, we should not fail to mention that the novelty of storing NFTs on the Bitcoin blockchain has been causing repercussions for a few weeks now.
From NFTexpress we have announced news on this subject on two occasions. On the one hand, through the article published on February 2, where we announced the arrival of the Ordinals Protocol and the incorporation of NFTs to the Bitcoin network. In addition to running on the network, the files linked to each NFT are also stored on it.
Subsequently, by means of article published on February 10, from NFTexpress we unveiled another news referred to Taproot Wizards, a new NFT collection hosted on the Bitcoin blockchain.
However, after the aforementioned events, new developments continue to emerge, this time related to a new platform that facilitates this development even more.
Gamma.io offers an open marketplace for Bitcoin NFTs, a launchpad for Ethereum token creators, and a social platform that brings together collectors and creators in a Web3 native way. All this is possible thanks to the Stacks infrastructure, which allows to set up and develop smart contracts on the blockchain.
Among the other services offered by Gamma, the following are highlighted BNS (Bitcoin Name Services)which operate in a very similar way to ENS (Ethereum Name Services) or Unstoppable Domains.
Jamil Dhanani, founder and CEO of Gamma, expressed that they are excited to take this step in promoting the adoption of NFTs on the most secure blockchain of all: Bitcoin.
He also noted the ease of creating an NFT Ordinal through its platform. By providing a codeless creation tool, it allows Ordinals to be accessible to anyone with a Bitcoin address.
Stacks is a Bitcoin layer 2 blockchain that enables the development and storage of NFTs on the Bitcoin network. To do so, it uses its own smart contract development language called Clarity: a novel and more flexible language than Solidity. At the time of writing, there have been more than 100,000 registrations of Ordinals NFTs on Bitcoin.
In a very similar sense to this platform, we can find a competitor such as Ordinalsbota tool that makes it possible to mint Ordinals NFTs in Bitcoin. Prior to the existence of these two platforms, only those running a Bitcoin node could do so.
CREATE A BITCOIN NFT WITH GAMMA.IO
1) Type: the platform provides two options to carry out the creation of an NFT: the user must choose whether he/she wants to incorporate an image or a text.
2) Upload: select the file to upload for later registration. In this case, we chose the option to enter a text (“NFTexpress“) to create our own Ordinal NFT in the Bitcoin network!
3) Fee: The fees charged by the network for transactions to create an Ordinals NFT can range from approximately $10 to $60, depending on a variety of factors such as network congestion at the time of creation, among others.
When uploading our file (image or text), we must not forget the file size restriction: it cannot exceed a maximum of 4mb, which is the maximum size of a Bitcoin block .
Then you can select between different options of commissions to be paid for the registration of the Ordinal NFT, in which you can choose Normal or High, and you can even set a Custom commission by the user. It is advisable to select a slightly higher commission than the one recommended by virtue of the Bitcoin mempool indicated.
4) Address: you must enter the address of the wallet where you want to host your Bitcoin NFT. It is recommended that you enter a“P2TR” or“Taproot Direction“, starting with“bc1p“.
5) Pay: Finally, a summary of the Ordinal NFT registration request is shown, with the address and the amount of Satoshis that the transaction fee will cost us, and at the end we must accept the terms and conditions for such registration.
Finally, we will see the data to pay the fee for the transaction related to the registration. The platform gives us 2 options, either we send the Satoshis to the indicated address, or we can scan the QR code generated by Gamma through a Bitcoin wallet.
It is worth mentioning the warning placed by the platform that the fee will depend on the demand of the network, and that the confirmation of the registration may take hours or even days to be confirmed.
IMPORTANT: NFTEXPRESS only publishes articles for informational purposes. Nothing herein contains the character of recommendation or promotion of any type of investment for the reader. Before making any kind of investment, it is recommended to consult with a specialist in the matter.
Written by Luciano Garriga (TW:@luchogarriga) for NFT Express