First NFTs to Be Minted on Bitcoin’s Sidechain are for Sale on Watafan’s Marketplace
RSK, the world’s first Bitcoin sidechain compatible with Ethereum smart contracts, is set to revolutionize the world of crypto collectibles starting with its Satoshi Nakamoto Genesis 21 exclusive NFTs.
RSK Genesis 21
It’s no news that crypto-collectibles, popularly known as non-fungible tokens (NFTs) have grown to become the hottest properties in the blockchain technology ecosystem. The NFT space is now worth nearly $3 billion and experts have predicted more exponential growth for the industry in the near future, as more and more institutional players are now joining the movement.
Though virtually everything in the real world can be represented as an NFT, their uniqueness and exclusivity make them more valuable when they function as digital collectibles.
It will be recalled that in commemoration of the 10th anniversary of Bitcoin, Watafan, a company that focuses on connecting fans to their idols via crypto-collectibles, minted a Satoshi Nakamoto NFT on RSK in 2019, making it the first-ever non-fungible token to be built upon a Bitcoin sidechain.
Dubbed Genesis, the NFT depicts Satoshi Nakamoto as a mysterious, radiant, caped hero, dressed in totally futuristic clothing. His face is covered by a shiny protective helmet and in his left hand, is a pennant where the words ‘10 years anniversary’ can be read. On his right hand is a hologram of a spectacular bitcoin token.
That’s not all, the symbolism becomes even more intense as behind Satoshi, in the mist, is an image of the U.S Federal Reserve building, perhaps to serve as a reminder of Bitcoin’s primary objective of creating a fail-proof decentralized monetary system for the people.
The NFT illustration was created by Joseph Diaz, a highly reputed artist with more than 15 years of experience in the creative industry. Diaz has worked with several notable names, including Disney, HBO, Netflix, and many others.
Just like bitcoin’s fixed supply, Genesis has only 21 unique copies. All of them share a commemorative image with a very careful and colorful design. The RSK Genesis non fungible token has never been put up for sale, so it remains immaculate in the possession of its first owner.
The RSK Advantage
Since the launch of the RSK virtual machine in January 2018, the world’s first-ever Bitcoin sidechain has been effortlessly powering solutions designed to expand the functionalities of the Bitcoin network.
While the RSK distributed ledger is an entirely different blockchain from Satoshi Nakamoto’s Bitcoin, both networks are however linked together via the “two-way-peg” technology, which enables RSK to share the same high level of security, monetary incentive, and overall robustness of Bitcoin, with better scalability.
RSK shares a large percentage of Bitcoin’s hashrate via “merge mining,” and at the same time, it’s 100 percent compatible with Ethereum, making it home for a vast array of decentralized finance (DeFi) solutions looking to enjoy the security of Bitcoin and the smart contracts support of Ethereum.
