Summary
The Bitcoin Ordinals gaming project, Bits, has announced that it is reducing prices and the total supply of its assets after failing to generate as much demand as expected. The project, incubated by DFZ Labs, aims to create a gaming ecosystem on Bitcoin that brings together gamers, creators, and Ordinals enthusiasts. The cost of minting a Bits inscription will be reduced to 0.002 BTC (approximately $100) from 0.006 BTC (around $300), and the supply will be cut to 3,000 inscriptions from the original 10,000. The project’s creator, Betty, stated that while there was a misjudgment of the market, the project is moving forward with an adjusted supply and price.
Key Points
1. After the launch of the Bitcoin Ordinals gaming project Bits failed to meet expected demand, the project announced price cuts and a reduction in the total supply of its assets.
2. DFZ Labs co-founder Betty expressed optimism about the project’s future despite the initial setback, emphasizing the team’s determination to move forward with adjusted supply and price.
3. The Bits project aimed to create a gaming ecosystem on Bitcoin, leveraging the security, stability, and decentralization of the cryptocurrency to provide financial incentives and opportunities for indie developers to create products that gamers want to play.