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  • ExtraOrdinal Daily #60 | There’s No Sugarcoating It—These Numbers Are Brutal

ExtraOrdinal Daily #60 | There’s No Sugarcoating It—These Numbers Are Brutal

28th Nov 2024 ||| Issue #60
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Table of Contents

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Todays Top Stories

Benny: The Unsung Hero of DMT & Bitmap?

Benny, the creator of TRAC, TAP, and PIPE, has become synonymous with innovation, particularly among Ordinals OGs.

However, he often struggles to receive the recognition he deserves. Some attribute this to "cabal dynamics," which tend to shift the spotlight away from builders who aren’t part of certain exclusive circles. Benny, known for being more of a lone builder, may be a victim of this—at least according to some observers.

In a recent X Space, Benny discussed his contributions to DMT and Bitmap after allegations arose that he “doesn’t care about Bitmap or the DMT community,” tracing his efforts back to the early days of Bitmap.

When the need for robust indexing solutions became apparent, Benny stepped up—even while on vacation with his family—to index Bitmap. He stated that without this foundational work, Bitmap might not exist in its current form today, especially as it faced widespread FUD and external attacks.

Benny’s contributions didn’t stop there. When the Bitmap community encountered scams, he played a key role in protecting its members. As the TAP protocol evolved, Benny spearheaded new features to enhance its functionality. His advocacy for integrating DMT assets as supplementary rewards for miners has opened up new avenues for value creation.

He also addressed the mistakes made by marketplaces misindexing Bitmap, but candidly admitted: “(Overall) I did a lot, but I didn’t do enough. I don’t do enough because I believe I should do more to develop this to its full capacity.”

The allegations that Benny doesn’t care about Bitmap or DMT ignited support from prominent voices who came to his defense. Fitzy praised Benny’s contributions saying “When Bitmap was in its early days and Bitoshi needed some guidance, Benny stepped up.” Iman from the Blockrunner Podcast stated, “There wouldn’t be Bitmap or DMT without Benny and TRAC. Simple as that.”

Regardless, tribalism between Bitmap and DMT supporters keeps flaring. While a war between two communities in the same asset class might seem crazy in the grand scheme of things, for onlookers, it’s a gift that provides many a belly laugh with exchanges like this between enemy combatants!

Top Stories | Airhead Halts Minting

Airhead has announced a temporary pause in its minting process—a decision that has sparked debate among fans and critics alike. Described by the team as a “step up” rather than a retreat, this move aims to refine the project’s vision and address community concerns.

Since its launch, Airhead has leaned into humor and cultural commentary, but its communication strategy has drawn criticism. Many community members voiced frustration over the lack of clarity regarding the project’s purpose, particularly its ties to OylWallet and its broader goals. In response, the team has decided to regroup and provide more transparent messaging.

Reactions have been mixed. Some community members applaud the team’s willingness to address feedback and evolve, while others remain skeptical. Critics on social media have pointed out the steep mint price and slow adoption, with one commenter calling the move “damage control.”

Despite this, the team has reassured supporters of its commitment to transparency and rewarding early adopters—a tired platitude in crypto that too often leads to disappointment.

However, Airhead is still in its early days, and founder Arthur Hayes has a strong affinity for Ordinals. This could be one of those rare cases where a project bucks the trend.

Top Stories | Jack Lu Reiterates M.E’s Mission

Magic Eden co-founder Jack Lu continues to outline the company’s ambitious roadmap, which could reshape how we interact with Web3. His vision is bold and refreshingly optimistic—a stark contrast to the fragmented and often tribalistic world of crypto.

Magic Eden aims to unite the blockchain world under one roof. By the end of this year, the platform plans to support over 15 chains, positioning itself as the ultimate destination for trading a wide array of digital assets.

However, Jack believes this will require more than just offering services to every chain’s maximalists. Instead, he wants to bring them together by emphasizing community building across all of crypto. His goal is to put an end to the constant infighting where fans of each chain argue, “My coin is better than your coin!” Instead, he wants to “build the best cross-chain community together.”

He also reiterated Magic Eden’s pledge to reward loyal users—those who invest not just money but trust and time. The $ME token rewards program prioritizes long-term participants over those chasing a quick profit.

Meanwhile, OpenSea 2.0 is on the horizon, but Magic Eden seems to be addressing the gaps left by their failings in connecting with their users. Whether this approach will succeed or not, one thing is clear: Magic Eden is setting an example that, in hindsight, feels like it should have been obvious all along to Opensea.

Top Stories | Watch: Farmer Joe Interview

In a recent video interview with Blockspace Media, Farmer Joe, known for creating the $PUPS memecoin, shared insights into the Bitcoin asset ecosystem.

Joe discussed topics such as the Solana-Bitcoin bridge, challenges in securing exchange listings, and the merits of inscriptions versus tokens. His unique perspectives shed light on navigating Bitcoin’s renaissance, offering contrarian takes alongside pragmatic strategies.

Daily Bites

Todays Markets

Another Wednesday Check-In video by @CryptoLandy

Ordinals

Puppets reclaim the top spot today, but their floor price sees only a modest 0.7% increase.

Meanwhile, their main rival, NodeMonkes, edges closer to slipping below 0.1. Fellow blue-chip collection Quantum Cats aren’t faring much better, inching dangerously close to dropping under 0.15.

Despite controversy around not minting out, Airheads remain steady in 4th place and post an impressive 37.5% gain in value.

Bitcoin Wizards holders might just be the toughest out there. They’ve endured it all thanks to the unhinged approach from Mavensbot and team.

Unfortunately, today is another rough one for them, with a 15% drop in floor price. High-profile collector OG General recently floored his Wizard, reportedly unimpressed by what he experienced in the Discord.

Confidence in the team seems to be fading, with even the most bullish supporter of $WZRD I know recently walking away, opting to explore better opportunities within more active Rune communities instead.

Based Angels see a solid improvement over the past 24 hours, while the new collection, Brats, breaks into the top 10 following its mint yesterday.

Runes

There’s no sugarcoating it—these numbers are brutal.

Every Rune in the top 5, apart from $DOG, suffered double-digit percentage losses yesterday, compounding the monstrous declines from the day before.

That said, it’s worth noting that $PUPS was at 30 sats not long ago. Perspective is everything during times like these.

Tanuki Wisdom secured a listing on MEXC’s Kickstarter yesterday, but skepticism remains. Many are questioning the legitimacy of this Rune, which has been 100% pre-mined and is allegedly run by Solana KOLs.

ManifestAITion surged 3x on the day, capitalizing on its recent spike in popularity. $BRO holds firm, as does RSIC.

Many are calling this the bottom. Are they right? Time will tell.

Todays Opportunities

Minting This Week

There are currently no mints taking place today, but check back tomorrow for what’s next so you don’t miss out.

Giveaways

Currently, there are no active raffles ongoing. However, more giveaways are expected soon, so join the Discord below and make sure you have notifications on so you don’t miss out when the next ones go live!

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Nothing in this or any other ExtraOrdinal Daily publication should be construed as financial or investment advice.

We trust this ExtraOrdinal Daily provided you with the information, insight and opportunities needed to have an ExtraOrdinal day! If you have any questions, suggestions, or a desire to contribute, reach out in the ExtraOrdinals Discord!

See you tomorrow!