BTC NFTs WG: Intro Thread

[pstan26]

Objectives

Phase 1 & 2: Validate whether people are willing to mint and trade NFTs with BTC natively, and whether the market demand is greater than doing so with Stacks

Phase 3: Determine what replicable NFT funding model will be valid for large swath of creators and founders

Goals

2 months: Prove out initial demand by generating $50,000 from an initial NFT collective by December 15th, 2022

5 months: Validate the market opportunity by generating over $2M in throughput for the BTC NFTs by March 1st, 2022

5 years: Make Bitcoin the primary source of funding for builders in crypto, turning it from passive to active capital.

Scope, Timeline & Deliverables

Category	Phase 1	Phase 2	Phase 3
Focus	Mint (and own) NFTs with Bitcoin tx	Transfer NFTs with Bitcoin tx	BTC crowdfunding
Dates	Oct 1 – Oct 31 (1 month)	Nov 1 – Nov 31 (1 month)	Dec 1 – Feb 28 (~3 months)
Deliverables	Working testnet implementation	Ready-to-launch mainnet Bitcoin NFT collection	TBD
Scope	Mint initial NFT collectionVerify that BTC address holds ownership	Move NFT between Bitcoin addresses, Move NFT from Bitcoin address to Stacks address	Ongoing fundraising with Bitcoin tx (ie. daily NFT auction)Enable Bitcoin as a distribution channel (ie. airdrops to any BTC wallet)
Validation	Technical feasibility, User research, Prototyping	MVP collection launch, Market response
Key questions	Is this technically possible? How will people react to early prototypes?	Will people spend their BTC to purchase NFTs?
Targets		Capital generated from initial mint: $50,000 (ideal result), $25,000 (good result), $10,000 (minimum to warrant continuation)	BTC NFT throughput exceeds $2M by March 1st, 2022

Members

Name	Company	Role	Github
Patrick Stanley	Freehold	Working group lead	@pstan26
Jason Schrader	Freehold	Technical lead	@whoabuddy
Ludo Galabru	Hiro	Technical	@lgalabru
Jamil Dhanani	Gamma	Technical	@Jamil
Don Park	Trust Machines	Technical	@donpdonp
Igor Sylvester	Trust Machines	Technical	@igorsyl
Mike Cohen	Clarity Lab	Technical	@radicleart
Derek Pym	DoubleUp	Go to market	@dpym
Aidan Hornsby	DoubleUp	Go to market
Ken Liao	Xverse	Wallet integration	@yknl
Mark Hendrickson	Hiro	Wallet integration	@markmhx
Ileana Malacrino	The Mintery	Distribution
Christian Hresko	Hiro	Product
Muneeb Ali	Trust Machines	Advisor	@muneeb-ali
Larry Salibra	New Internet Labs	Advisor	@larrysalibra
Diwaker Gupta	Hiro	Advisor	@diwakergupta
Brian Laughlan	Satoshibles	Advisor	@bruffstar
Joe Looney	Counterparty	Advisor	@loon3

How do I stay updated / involved?

• If you would like to contribute to this working group please leave a comment on this page.
• Announcements and updates will be posted to Github discussions in this repo.
• Call notes will be posted here: BTC NFTs working group calls #474
• Architecture and designs are currently being modeled in Skiff and Miro, there will be a corresponding update in Github discussions too
• Implementation is being organized in a separate GitHub organization is configured for the group, PRs are welcome and contact @whoabuddy for direct access

[donpdonp]

I would like to be part of the WG: Don Park (Trust Machines). To help with technical feasibility/review.

[whoabuddy]

Done! I updated the formatting a bit and have you on the list.

[whoabuddy]

Update: The technical doc is reorganized to focus on chainhooks based on our last meeting, and now includes some information and examples about how they operate. (s/o to @lgalabru and @obycode 🙏)

Also wanted to share this from regarding a generic Bitcoin memo burnchain operation, looks like exciting stuff!
stacks-network/stacks-core#3340

[lgalabru]

@whoabuddy would love to join this WG as a technical person, I'd be happy to support this effort from both protocol and developer tooling point of view.

[whoabuddy]

That's great! I've added you to the members table, looking forward to having you part of the group!

[loon3]

If you guys want the perspective of someone building applications for Bitcoin NFTs on Counterparty the last 7 years, I’d be interested in joining the working group

[pstan26]

Absolutely, all public work will happen here and we’ll begin meetings soon.

[pstan26]

@loon3 we are making great progress, would love to see how you could slot in contributing to something :-))

[bruffstar]

I would like to lend a hand in any way I can. I founded the Satoshibles NFT project and created StacksBridge to allow my holders to bridge from ETH to Stacks. Bitcoin NFTs have huge potential.

In terms of minting, although the UX is not great, I did integrate LNswap into the mint page for BuiltWithNFT. You can mint directly with Lightning, and using sponsored tx, there is no STX needed. I made a quick video of the process here.

Looking forward to this group, hopefully, working on future iteration where we can take Hiro wallet out of the equation!

[pstan26]

Oh wow that is impressive! Yes would love to have you contribute! Very likely doing a public call next week and will announce here in Github!

Thanks @bruffstar!!!!

[whoabuddy]

Hey @loon3 and @bruffstar excited you are both interested! Would you be able to provide info to fill in re: name (can be pseodonym), company, and desired role so I can add you to the table in the first post? The structure is pretty free-form but would like to know how best to engage as part of the WG.

[bruffstar]

Sure, thanks... Brian Laughlan | Satoshibles | Advisor

[loon3]

missed this but what you put in the table for me is perfect, thanks

[whoabuddy]

FYI - added our new members, reorganized the table and grouped by role, and added all GitHub handles I could find.

I've also deleted the initial repository I set up and created a GitHub org, now linked in the doc and here as well.

[dpym]

Working group calls will be open to the public starting next week.

We have two weekly recurring calls right now:

1. General working group call on Tuesday's at 7am PT
2. Technical session on Thursday's at 8am PT

You can add these to your calendar (or subscribe to all future meetings) here: https://www.addevent.com/calendar/uU517002

Please share with anyone in your network that would be interested!

[dpym]

Latest call notes (for Oct 25th) have been posted here: #474 (comment)

Call recording here: https://us06web.zoom.us/rec/play/V2yS9PCZ8-EsK-WTyIxjZwlwuscls-caiH5rkH2nCWIIBGQQUb2tvXrXtFeztbHqpjLCZbrylL4b2wu9.qZEqkz1udFZAXeJA?continueMode=true

[whoabuddy]

Shout out to @radicleart for attending today and joining up! Added you to the table under technical here and to the working group org 👍

[dpym]

Notes + recording of our working group call today (Nov 1st) have been posted here: #474 (comment)

[pstan26]

[anibalbosco]

I'd like to get involved in this effort, cheers!

[whoabuddy]

That's great news! Did you have a particular role in mind? We've assigned some in the main charter to help identify where each person can help the most.

[yknl]

Added a couple ideas for traits here: https://github.com/bitcoin-nfts/stacks-svg/issues/7#issuecomment-1305026489

[dpym]

Recording and notes for today's call: #474 (comment)

[obsidianbtc]

Should this goal "BTC NFT throughput exceeds $2M by March 1st, 2022" be March 1st, 2023?

[dpym]

Recording and call notes from our Nov 15th call: #474 (comment)

[dpym]

Call notes from Nov 22: #474 (comment)

@whoabuddy will be following up with breakdown of the outstanding technical work required to build this MVP

[dpym]

Latest call notes + recording from earlier today, Nov 29th: #474 (comment)

[G1ne]

No call today/this week?

[probert877]

Hey can I get the invite for the new meeting? probert@metaboy.run