GLOOMERS PFP Collection: Launching Across 3 Blockchains with Teleburning from OP to Bitcoin
Exciting news for crypto enthusiasts and collectors! The highly anticipated GLOOMERS PFP collection is set to launch on May 4th, and it's breaking new ground by splitting across three prominent blockchains: Base, Solana, and Bitcoin. But that's not all – the Bitcoin portion of the collection will be launched on Optimism with the ability to be teleburned, unlocking the Ordinal Inscription on the Bitcoin Blockchain.
Example: https://docs.ordinals.com/guides/teleburning.html?highlight=teleburn#example
The Innovation Behind GLOOMERS
GLOOMERS is not just another NFT collection; it's a pioneering project that embraces innovation and pushes the boundaries of what's possible in the digital art space. By leveraging multiple blockchains and teleburning technology, GLOOMERS offers a glimpse into the future of decentralized ownership and asset migration.
Teleburning to Bitcoin
One of the most exciting aspects of the GLOOMERS project is the introduction of teleburning to Bitcoin. This innovative process involves launching the Bitcoin portion of the collection on Optimism, a leading L2 blockchain platform, and then teleburning the assets to Bitcoin. But why teleburn to Bitcoin? The answer lies in recent developments in the cryptocurrency space.
Bitcoin Halving and High Fees
The recent Bitcoin halving, coupled with the launch of the Runes protocol, led to a surge in transaction fees on the Bitcoin network. With fees currently very volatile, launching directly from Bitcoin could result in holders overpaying for transactions. GLOOMERS recognizes this challenge and aims to provide a solution.
Optimal Migration Timing
By introducing teleburning, GLOOMERS allows holders to wait for an optimal time to migrate their assets to Bitcoin. Instead of paying exorbitant fees during periods of high network congestion, holders can choose to teleburn their assets when fees are lower, ensuring a cost-effective and seamless migration process. You can check the current Bitcoin fee rate by visiting https://mempool.space/ Migration will be an ongoing feature available until the entirety of the collection has been teleburned.
Benefits for Holders:
The introduction of teleburning to Bitcoin brings several benefits for GLOOMERS holders:
Cost Savings Holders can avoid overpaying for transaction fees by teleburning their assets to Bitcoin during periods of low network congestion.
Flexibility Teleburning allows holders to migrate their assets to Bitcoin at their own pace, without being constrained by high fees or network congestion.
Access to Bitcoin Teleburned Gloomers and their assets are permanently inscribed on the Bitcoin Blockchain. An opportunity that is becoming harder and more expensive as the cost for BTC block space increases.
Community Engagement
GLOOMERS is committed to fostering a vibrant and engaged community of collectors and enthusiasts. The introduction of teleburning to Bitcoin not only introduces cool new technology but also encourages collaboration and participation within the GLOOMERS community.
Arbitrage Trading Opportunity
By launching Gloomers on Optimism and allowing the asset to be teleburned this allows the collection to have essentially two floor prices. We see this with a collection called Onchain Monkey that launched on Mainnet and teleburned to Bitcoin
ETH Collection: https://opensea.io/collection/onchainmonkey
Teleburned Bitcoin Collection: https://magiceden.io/ordinals/marketplace/ocm-genesis
At the time of writing, the ETH collections floor price is 1.2ETH - $3,937.08 while the BTC collection floor price is 0.0673BTC - $4,249.56, thats a $312.48 difference!
What Does This Mean For Mint?
GLOOMERS will be minting on Base, Solana and Optimism, you will pay for your NFT using the native currency of that chain. If you are minting on Optimism you will receive your GLOOMERS to your OP wallet address that you use to pay for your mint. At any point in time you can choose to teleburn this asset to Bitcoin. We will facilitate this process through our dApp. Essentially you are burning your OP Gloomer that unlocks your Bitcoin Ordinal Gloomer. This process can not be reversed.
Conclusion:
The launch of the GLOOMERS PFP collection across three blockchains with teleburning to Bitcoin represents a significant milestone in the world of digital collectibles and provenance. By embracing cutting-edge technology and providing holders with a unique migration opportunity, GLOOMERS is leading the way towards a more decentralized and inclusive future. Stay tuned for the May 4th launch and join us on this exciting journey!
