Why Ordinals, BRC-20 and Runes Died (and how to bring it back to life) 🧵 In the beginning it all felt like an opportunity. Low cost to entry. You could get an airdrop for making a single transaction on Ordinals Wallet (Pixel Pepe, Space Pepe). You could inscribe $100 in transaction fees for ORDI or BITMAP mints and have infinite upside. The vibes were insanely high, and there was a big enough market to support the few good ideas that existed. Then big names came in and started to sell things at extremely high costs. Mints that costed 5 figures to enter (OMB, BTC DeGods, Yuga Labs, etc.,). Then Runes hit the scene, inflating attention in a market with too few participants. Nobody knew where to look: backwards towards their Ordinals and BRC-20 bags, or forwards towards the new Runes scene. It went from a market with a few good ideas with infinite upside to an over-inflated space where nobody knew where to give their attention and focus. Now we are seeing the results of moving from an experimental scene with cool ideas that people could speculate on --> to exponential greed and clout chasing. Prices of expensive mints are falling below 50% of mint price (Taproot Wizards, NodeMonkes), some of them went essentially straight to $0 (twelvefold, BTC DeGods) as there's zero liquidity for these collections. Some of you will have to come to terms with the reality that many of these collections will never return to their highest values. Others have potential, but founders will have to come out of retirement to spend some of those millions they extracted and give it back to the community. The only way Ordinals comes back is if the opportunity returns, and the vibes feel like they did – upside, fun, new ideas, exciting propositions for people. It's time for everyone to come to terms with the reality that nonstop extraction doesn't lead to new participants looking to come in. We need to bring back airdrops, free mints and fun memes or this space will be dead forever. No, it's not going to come back if we do nothing and wait for "retail" and hype. No one is coming to buy your bags. We have to create the opportunity.