Golden Opportunities in the Web3 Wave: Value Analysis of Piin Inscriptions

On the evening of March 11, 2021, Christie's New York online auction of an NFT digital artwork by artist Beeple, "Everyday: The First 5000 Days", was sold for approximately US$69.3 million (approximately RMB 450 million) after 14 days of online bidding.

"Every Day: The First 5000 Days"

This work is not only the most expensive NFT artwork in history, but also the first batch of independent NFT artworks sold by the auction house. Its price is 10 times higher than the second most expensive NFT artwork in the world and 100 times higher than the third. At the same time, this transaction price also makes Beeple the third in the list of "the most expensive living artists", second only to Jeff Koons and David Hockney, who have been famous contemporary artists for many years.

Some of the works in "Everyday: The First 5000 Days"

Although few of his works have sold for more than a hundred dollars in the past, Beeple has always insisted on the habit of daily creation. He said: "The only commitment is to make a picture every day, from early in the morning to before midnight, from start to finish, and then publish it on the Internet. This is the only ritual I insist on. "It is this dedication to art, coupled with the rise of NFT artworks in the Web3 era, that ultimately brought sky-high returns.

A similar story happened in January 2022, when a 22-year-old Indonesian college student named Ghozali made $1 million (about 7.2 million yuan) simply by selling his selfie NFT.

Ghozali's selfie sitting in front of the computer

As an ordinary student, Ghozali has taken a selfie every day since 2017, occasionally skipping a day or two. In this way, he has accumulated nearly 1,000 selfies in five years. At first, it was just a way for him to record his life and had no other intentions.

It was not until NFT began to become popular that Ghozali came up with an idea: What interesting things would happen if these ordinary selfies were made into NFTs for sale? So he organized these selfies into a series called "Ghozali Everyday" and put them on the NFT trading platform OpenSea, priced at only 0.00001ETH (about 3 US dollars). "Because I never thought that anyone would want to buy these." Ghozali later explained.

Ghozali's selfie work: "ghozali-everyday"

Unexpectedly, not only did someone buy his selfie NFT, but the price soared from $3 to $3,000 in just a few weeks. As of January 18, 2022, Ghozali has sold 387 NFTs, with a total revenue of more than $1 million.

Such a transaction price and incredible NFT projects have made him a hit on social media. He often shares the sale of his NFT avatar on Twitter. Many people were surprised by this "grassroots wealth" story. Even after his selfies were sold wildly, Ghozali himself said with emotion, "I don't understand why you are willing to buy my selfies, but thank you for your support for my five years of hard work. "

As for why Ghozali's selfie is so popular, we seem to know the answer from a Twitter celebrity "0x_Todd" who has always supported him:

0x_Todd believes that web3 should focus on the ordinary lives of ordinary people

The reason why Beeple and Ghozali's works have achieved great success is largely due to the inclusiveness of emerging fields such as cryptocurrencies and NFTs represented by the Web3 era to ordinary people. Their "grassroots counterattack" story inspires many people to pursue the dream of wealth and freedom.

However, the key to Beeple's winning the award is not only his persistence in art, but also his artistic strength cultivated over the years. For Ghozali, taking a selfie every day for five consecutive years is really not easy for an ordinary person to stick to it.

But in fact, in the Web3 world, there are many examples of tolerance and support for ordinary people to pursue their dreams of wealth. The most famous one is the success of SHIBA Inu (SHIB), a decentralized experimental project for ordinary people.

SHIB was originally a "meme coin" that originated from a mockery of cryptocurrencies such as Bitcoin and has no practical use. But its rise just shows the inclusiveness of the Web3 era to "grassroots": everything can start from scratch, and everyone has equal opportunities.

In an environment where all project owners control tokens, SHIB founder Ryoshi achieved decentralization of SHIB by giving up his ownership of the SHIB project, giving up his personal interests as a project owner, and making SHIB a currency that truly "belongs to everyone". Therefore, from the moment it was born, SHIB completely belongs to the community, and everyone decides its fate together.

Ryoshi sent half of the total SHIB to the founder of Ethereum, and put the other half into Uniswap and gave up the ownership

It is this concept of "everyone is equal, everything starts from scratch" that attracted a large number of ordinary people to spontaneously join the SHIB community to promote and publicize SHIB. With more and more participants, the price of SHIB also rose. In less than a year, SHIB went from nothing to something, and its market value increased from the initial tens of thousands of dollars to more than 43.5 billion US dollars at its peak.

As of May 9, 2024, SHIB's market value ranks 11th in the global crypto market

This "decentralized social experiment from scratch" has also enabled many ordinary people to achieve financial freedom. For example, a British man bought SHIB for only $8,000 and later made a profit of more than $1.5 million (about RMB 11 million);

There are also Chinese users who invested only 1,000 yuan in 2020, and then the value was as high as 80 million yuan.

These stories of getting rich quickly among ordinary people are exactly the new opportunities that the Web3 era brings to the public. Therefore, for ordinary people like us, cryptocurrency is undoubtedly a valuable opportunity, and the Bitcoin inscription token Piin is an excellent investment opportunity at present.

Piin (Chinese name: Piin) is a token issued based on the Bitcoin BRC20 inscription protocol. The BRC20 protocol has the advantages of simple design, single function, and uncomplicated transaction process. At the same time, there is no need to worry about smart contract risks and repeated issuance.

The biggest highlight is the "fairness" concept advocated by the fair mint mechanism implemented by the BRC20 protocol at the technical level. On other public chains, due to the gap in financial strength, the fairness of obtaining chips is often questioned. BRC20 allows all participants to truly stand on the same starting line from a technical level, and both project parties and ordinary investors have more equal opportunities.

Fair minting mechanism: ensure the fairness of participants in obtaining chips as much as possible

At the same time, Piin inscriptions are directly issued on the Bitcoin blockchain, so that they can be closely integrated with the Bitcoin ecosystem and enjoy the benefits of Bitcoin's overflow funding effect. In addition, Piin's related transaction infrastructure is complete and can be easily managed on the mobile terminal, further lowering the investment threshold.

Bitcoin ecological infrastructure supporting Piin

In addition, the well-known fund management company Franklin Templeton also elaborated on the potential of homogeneous tokens (commonly known as "tokens") on the Bitcoin chain in its published report: By comparing the market value of native tokens of other blockchains with the market value ratio of ecological tokens on the chain, it can be found that the current market value of Bitcoin ecological tokens is still very low, so the tokens on the Bitcoin chain still have tens of billions of dollars of appreciation space.

Franklin The Templeton report shows that there are still huge opportunities for homogeneous tokens on the Bitcoin chain. As the fairest opportunity at present, Bitcoin inscriptions are naturally more suitable for accepting more users and are easier for more people to accept. But at the same time, this fair mechanism is a great test for the unity of the community and the continuous publicity and preaching of community members. This also leads to the scarcity of inscription communities that are still adhering to preaching and achieving sustained growth;

More than 90% of the inscription tokens are close to zero, and only a small number of communities are still under construction

But fortunately, Piin originated from a Pi community with 55 million miners worldwide. Every miner in this crypto community insists on mining every day, and most of them have been mining for nearly 5 consecutive years. Therefore, Piin has the potential support of 55 million miners with strong willpower. Their determination is as unwavering as the spirit of Yugong moving mountains in the fable.

Similar to SHIB's goal of launching a decentralized community experiment, Piin's core goal is to launch a social practice movement for the grassroots masses. It adheres to the mutual assistance concept of "everyone for me, I for everyone", aiming to enable more ordinary people at the grassroots level to stand up and realize the dream of wealth freedom through community construction.

So since its birth in November 2023, members of the Piin community have been insisting on publicity, and the 5-month publicity and preaching have also made Piin's total transaction volume rank third in the inscription track, and become the top 10 inscriptions in the number of coin holders in the entire Bitcoin inscription track, exceeding more than 70,000 inscription tokens.

In the total transaction ranking of inscriptions, Piin's transaction volume is second only to sats and rats issued half a year earlier

And relying on the core concept of mutual assistance and cooperation, Piin has successfully attracted more than 31,000 users worldwide to participate in community building, and the scale of community supporters is also steadily growing. Combined with specific data, Piin is the inscription with the greatest hope of building the largest community on the Bitcoin chain.

Piin Telegram group has more than 31,000 global community members

More importantly, just as SHIB spent about 8 months building the community before its official outbreak, during which time the price of SHIB has been in an undervalued range, Piin's price is currently in an undervalued sideways construction stage. SHIB experienced a period of about 8 months of undervaluation before its official outbreak.

SHIB experienced a period of about 8 months of undervaluation before its official outbreak.

Piin is currently in the community building stage and has not yet officially exploded

At present, Piin is in a relatively early stage, and the price has not yet fully reflected its intrinsic value, providing a good opportunity for people of insight to seize the investment window period.

Piin, like SHIB, takes the public as its starting point, and Piin's market value is still thousands of times higher than SHIB's high point

Therefore, for ordinary people like us, cryptocurrency is a rare opportunity track for us, and the inscription Piin is a rare opportunity for us to achieve wealth freedom.

In summary, the rise of cryptocurrency has provided new opportunities for the general public. In the field of encryption, everyone has a relatively fair starting point. Even if they start late or have limited resources, they can realize their own value by participating in the construction of the SHIB community like SHIB supporters.

This reflects the concept of pursuing equality in the Web3 era. The encryption field breaks the inherent rules in the traditional world, allowing ordinary people to have the opportunity to pursue their own wealth dreams.

In the process of continuous development in the encryption field, the emergence of the Bitcoin inscription token Piin has shown potential similar to SHIB: it has achieved fairness and transparency from a technical point of view, ensuring that community members have equal opportunities to participate; it is issued on the Bitcoin blockchain, can be integrated into the Bitcoin ecosystem, and enjoy the capital spillover effect.

At the same time, the market potential of homogeneous tokens on the Bitcoin chain is huge, and Piin, which has the support of a 55 million miner community, has a bright future. Currently, Piin is in a relatively early stage, and the price has not yet fully reflected the intrinsic value, so it is worth it for investors to seize this opportunity.