Todays Top Stories

Editor: @PhoenixxDown

Does Ordinals Have an Entitlement Problem? Udi Lashes Out!

Udi Wertheimer, founder of the blue-chip Ordinals collection Quantum Cats, has been on the rampage this past weekend, taking aim at “jeets” and “poors,” while also trying to grab the attention of NFT legend Gary Vee to bring him into the Ordinals ecosystem.

It all started on Saturday when Udi woke up and instantly chose violence, highlighting a post from @pawellwitt that criticized the Nakamigos team for “fleecing” the Ordinals community with their $190 price tag for the Fukuhedrons mint.

As we know, secondary sales for Fukuhedrons went into overdrive after minting out, reaching just below $2,000 at one point and currently sitting at $837—a 4x even after the pullback. If you minted, congratulations—you’re not feeling fleeced.

While some have found Udi’s comments harsh, he’s not wrong. Fresh Ordinals mints have struggled in recent months, with most either completely failing or barely hitting a 2x—until recently. It’s undeniable that the ecosystem has been infected with a low-ambition, “sell for a ham sandwich” mentality that has stifled some launches, even though most mints weren’t particularly expensive.

Whether that was a sign of the market conditions, or something indicative of a bigger problem with the community is up for debate. However, $200 for a mint from a proven team is not outrageous, and, of course, we always the option to not mint if we think it’s too steep. There are always other opportunities.

But Udi didn’t stop there. He launched a vicious attack on the “jeet attitude of bozos” and encouraged artists to DM him to execute multimillion-dollar Ordinal mints in response to inject life back into the ecosystem.

“Bitcoin is a LUXURY CHAIN. If you want free stuff, go mint on Sui, BOZO,” Udi exclaimed.

A large portion of the frustration behind Udi’s remarks stems from the notion that a vocal part of the community has badgered creators and projects into lowering their prices to very low levels—or even free. This sentiment was echoed by some creators in their responses to Udi’s posts.

Udi rounded off his weekend of dropping pipe bombs on the timeline by declaring, “We need to get Gary Vee into Ordinals.” Gary Vee is largely credited for kicking off the 2021 NFT bull run by bringing high-profile personalities like Logan Paul, Mr. Beast, and others into the space through projects like CryptoPunks, VeeFriends, and World of Women. This surge led to extensive mainstream media coverage from May 2021 through the end of the year before the market saw a blow-off top.

Ordinals could present a unique twist on NFTs—perhaps even better—that Gary would find intriguing. If history repeats itself and Udi is successful in getting Gary’s attention, we could be on the brink of experiencing something extraordinary.

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Todays Markets

Ordinals

Fukuhedrons have been slightly edged into second place on the 1D volume chart as Bitcoin Puppets reclaim the throne. The difference, however, is marginal, with only 0.254 BTC separating them—just slightly over the price of one Puppet.

NodeMonkes, in third place, put in a good showing but trail both Puppets and Fukuhedrons by a clear 2 BTC. Pizza Pets continue to hold attention after Saturday’s launch, and Quantum Cats maintain their 0.2 BTC peg nicely, staying just above it.

On the whole, prices are down but remain well within the ranges they’ve been holding throughout the latter part of this year.

In the bottom half, OMB features again, firmly holding the 0.15 BTC range. Based Angels are the only collection showing an improvement in floor price over the past 24 hours, with a modest 1% increase. On a red day, we take the wins where we can find them!

Runes

If this is your first time checking the Runes charts since our last issue, you might be wondering, what happened?! All I can say is, be thankful you didn’t see them yesterday. Praise be that we don’t publish on Sundays because it would have been a tough read.

On Sunday evening, BDC was hovering around 60 sats, with CYPHER reaching as low as 7.5 sats at one point. It’s hard to pinpoint where the bottom is, but if that wasn’t it, we MUST be close—it smells like capitulation.

DOG was the only Rune largely unaffected by the drop-off, holding above the 9 sats mark well. That, however, has since changed, as you can see. DOG holders are likely unbothered, knowing how quickly things can swing to the upside in this space.

In the bottom half, we see a battle of the midcaps with BRO at $5.29m, Memento Mori at $13.6m, and BIP at $3.17m.

Once again, these prices appear to be completely oversold, especially for the battle-tested Based Internet Panda, which has weathered many of these storms before and boasts a strong community backing it. Panda is currently down about 80% from its ATH of just under 30 sats, making this an interesting level to consider for those still on the sidelines.

RSIC has smashed through the 3 sats level it held for so long, while an old face, Short The Dollar, reemerges to claim 10th place today. What’s behind this sudden revival? It might have something to do with this.

If you’re looking at these prices today and feeling your conviction being tested, take a moment to read this from PUPS founder, Farmer Joe. It’s clear that Joe has insight into the upcoming advancements in tech that are set to be game-changing. Hold on!

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