Bitcoin Ordinals Gaming Project Bits Slashes Prices and Total Supply
The Bitcoin Ordinals gaming project Bits has announced that it is reducing prices and the total supply of its assets after failing to attract as much demand as expected. The project, incubated by DFZ Labs, aims to create a collaborative framework that brings together gamers, creators, and Ordinals enthusiasts. The goal is to develop a playable game with input from Bits asset holders. Betty, a pseudonymous co-founder of DFZ Labs, acknowledged the misjudgment in market supply and price but expressed determination to move forward with an adjusted supply/price. The cost of minting a Bits inscription has been reduced to 0.002 BTC, and the supply has been cut to 3,000 inscriptions from the original 10,000.
Refunds Offered for Collectors Who Paid More Than Current Price
Bits has stated that collectors who minted a Bits inscription for more than the current price will be refunded the difference or receive additional Bits based on their preference. Despite the project being labeled as ambitious, Betty emphasized that it was not a cash grab but had genuine development plans. She acknowledged that market conditions did not align with the project’s expectations but remained optimistic about overcoming this hurdle. Further details about the project can be found on its Discord server, and the public mint will be open for 15 hours.
Hot Take: Bitcoin Ordinals Gaming Project Faces Challenges
The Bitcoin Ordinals gaming project Bits faced challenges in its initial launch due to lower-than-expected demand. However, the project is determined to overcome this setback by adjusting prices and supply. With a focus on creating a collaborative ecosystem for gamers, creators, and Ordinals enthusiasts, Bits aims to develop a playable game with input from asset holders. While the project has faced criticism and market challenges, Betty, a co-founder of DFZ Labs, remains confident in the project’s long-term potential. The team is committed to addressing market conditions and delivering a successful gaming experience on the Bitcoin platform.
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