Bitmap Metaverse, the metaverse protocol, has become a prominent player in the Bitcoin blockchain community. Let’s explore what is Bitmap metaverse and its potential impact on the evolving landscape of digital assets with FMCPAY.
What is Bitmap Metaverse?
Bitmap theory is an open-source standard that allows users to confirm ownership rights of Bitcoin blocks by recording them on sats (the smallest Bitcoin unit). This is akin to Ordinals, enabling users to permanently stamp their mark on each satoshi. However, Bitmap takes this concept a step further by allowing users to own entire Bitcoin blocks and engrave them with unique inscriptions.
Read more: Bitcoin Ordinals NFT – The evolution of NFTs on Bitcoin
Simple Explanation of How Bitmap Works
Firstly, it’s crucial to understand that blocks on Bitcoin are considered immovable objects that receive data from miners during the mining process. Miners are responsible for solving the algorithm for new blocks when a previous block is filled with data, facilitating transactions through nodes, and collecting transaction fees from users when a transaction is created. These nodes act as bridges between blocks.
The core process of the bitmap protocol involves using raw Bitcoin data as the foundational platform to build a digital technical landscape. In simpler terms, Bitmap applies Ordinals theory to map out the coordinates of mined blocks. Because Bitmap relies on the raw data of Bitcoin, it reflects the unique attributes of Bitcoin data and can apply them to digital assets in a unified space.
Essentially, buying a bitmap means purchasing the right to identify the block’s coordinates on the bitmap, akin to a land deed certifying ownership of infrastructure in that block.
Potential of Bitmap – Bitcoin Lands
Digital landscapes built on Bitcoin are not restricted by data limitations, allowing users to fully construct games, metadata, 2D, and 3D based on block data. Valid Bitmap inscriptions serve as land deeds, and attempting to encroach on data will be rejected due to the certified nature of the land deed data.
Owners of Bitmap inscriptions can construct other inscriptions in various dimensions, resolutions, and even down to each Satoshi coordinate in an efficiently built Bitmap on the blockchain.
The emergence of Ordinals will generate numerous transaction fees for miners, a crucial point that incentivizes miners to maintain the PoW model and drive Bitcoin prices.
Bitmap Ecosystem
Currently, one Bitmap is considered one District, totaling four Sections with each Section containing approximately 210k Districts. The total market cap for Bitmap is nearing 200 million.
The Bitmap universe offers different types of land that users can request, each with its unique characteristics. These include Sub X Lands, Palindromic Lands, Numeric Lands, Shaped Land, and Mondrian Lands.
Demand for Bitmap, with the zip code of tech giants like Google and Microsoft, along with other key locations, is on the rise. These sought-after blocks are becoming increasingly popular for those seeking unique and valuable avatar images.
How to buy Bitmaps
- Set up a Bitcoin wallet: To interact with the Bitcoin blockchain and purchase NFT blocks, you’ll need a Bitcoin wallet. Unisat, Xverse, or Ordinal Wallets currently support Bitmap!
- Load funds into your Bitcoin wallet: You’ll need to buy Bitcoin and transfer it into your wallet.
- Note: There are three different addresses in one Bitcoin wallet for different purposes (BTC storage, Ordinals storage, and Taproot, so remember to choose the correct address for each type of asset).
- Access the Bitmap website or marketplace: There are currently many marketplaces supporting Bitmap, including MagicEden, Element Market, Unisat, etc.
- Choose the NFT block you want to purchase: Once you’ve found the NFT block you’re interested in, click on the block to view details and the current price.
- Connect your Bitcoin wallet: Click the “Buy” button and follow the instructions to connect your Bitcoin wallet.
- Approve the transaction: Review the transaction details, including the NFT block price and any additional fees. If you agree, confirm the transaction in your Bitcoin wallet.
- Complete the purchase: After the transaction is confirmed on the Bitcoin blockchain, the NFT block will be transferred to your wallet. Now you can view and manage the NFT block in your wallet or on the Bitmap platform.
Conclusion
Bitcoin represents decentralization in crypto and Web3, a direction the majority of users are heading towards. Ordinals mark the technological revolution of blockchain this year, and remember that this is just the foundation of a new trend. Bitmap is one of the notable technological advancements this year, along with Ordinals, offering expanded avenues for exploration and interaction in the digital realm. These innovations will significantly impact the future of the metaverse.