🥘 Rare Sats

This week I talk about inscribing my first Bitcoin Ordinal NFT, how not to acquire a .com, and Zoomer Media acquiring more newsletter businesses

Author

Richard Patey
June 14, 2023 • Estimated Reading Time: 7 minutes

Together with

Hey there 👋,

In this week’s newsletter, I discuss:

  • Inscribing my first Bitcoin NFT

  • Why you should not negotiate for domains publicly

  • Zoomer Media buying more newsletter businesses

Cheers!

Richard Patey - @richardpatey

NFTs

Following on from talking about buying My First Ordinal Bitcoin NFT, I’ve just created (inscribed) my first.

Every Bitcoin NFT is inscribed on a satoshi, or “sat”, which is the smallest unit of Bitcoin (1 Bitcoin = 100M sats).

According to Ordinal Theory by Casey Rodamor, the Ordinal creator, not all sats are created equal:

❝

Bitcoin has periodic events, some frequent, some more uncommon, and these naturally lend themselves to a system of rarity.

Casey Rodamor

These events give us the following sat rarity levels:

  • common: Any sat that is not the first sat of its block

  • uncommon: The first sat of each block

  • rare: The first sat of each difficulty adjustment period

  • epic: The first sat of each halving epoch

  • legendary: The first sat of each cycle

  • mythic: The first sat of the genesis block

This is a great thread below by Elena with more details, as well as this post on Ordinal Hub:

You can pan for gold and see if you have any rare sats at places such as Ordinal Hub (I did not).

This all adds an extra layer of complexity to Bitcoin NFTs, vs those on ETH or SOL, as there can be intrinsic value in the sat that the NFT is inscribed on.

Talking of inscription, you can use UniSat to inscribe your own .sats names.

So I created patey.sats, the 11,841,938th inscription on Bitcoin:

This is similar to hand registering .sats on Handshake (TLD owned by dotsats) on Porkbun:

This could result in a potential collision, so may be one for the Web3 Domain Alliance to help with, which pledges:

❝

To protect users and endeavor toward the development of interoperable NFT domain naming systems by promoting voluntary avoidance of namespace collisions with existing Web3 naming systems in the Web3 domain industry.

DOMAINS

When Andrew at MicroAcquire asked whether he should drop the micro and acquire acquire.com, he already had the name:

However, Daniel from smallbets.co recently tweeted about trying to get the .com, something he’s not been able to achieve:

Daniel offered to lease the domain with an option to buy outright. However, the owner of this domain Francois Carrillo is an OG domain investor who I connected with last year. I’ve seen his portfolio (and his success) and this type of tactic simply won’t work. At best he won’t care, at worst he’ll raise the asking price.

Which is a shame as when Pieter Levels bought the .com it had a dramatic effect on his traffic and startup:

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NEWSLETTERS

Last week’s Creator Funnel was all about newsletter exits, including my own:

💵 Newsletter Exits

A 7 figure newsletter exit, ConvertKit acquires Sparkloop, Wisdom Media acquires Duuce and one more exit...

create.beehiiv.com/p/newsletter-exits

I wrote about how Zoomer Media had just acquired The Peak for $5M. Since then, it’s been announced that it acquired a newsletter business with 150K subs, along with the website, for $1.1M:

I also announced the acquisition of my two other beehiiv newsletter, Creator Funnel and Acquire The Web newsletters by Wisdom Media:

Acquire.GG Acquired By The Wisdom Group

/PRNewswire/ -- The Wisdom Group LLC (TWG) announces the acquisition of Acquire.GG, a business of Patey Media Ltd. The Wisdom Group actively owns, invests and...

www.prnewswire.com/news-releases/acquiregg-acquired-by-the-wisdom-group-301847382.html

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Disclaimer: Nothing in this email is financial advice and I am not a professional investment adviser. I send weekly updates on digital asset news and what I'm doing personally - consider it informational and for entertainment purposes only.

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