The Inscription Craze in the Encryption Circle

Recently, there has been a surge of interest in inscriptions within the cryptocurrency circle, which can only be described as "crazy." During the annual summary of 2023 chain game projects, several project leaders reported that employees were increasingly getting involved in inscription speculation, with some even resigning to focus solely on inscriptions. This phenomenon not only affects normal work progress but also makes one marvel at how the allure of inscriptions surpasses that of the currently popular chain game track.

The Uniqueness of Inscription

From the user's perspective, inscriptions have three main characteristics: fair distribution, full circulation, and small investments yielding large returns. For project parties, the biggest advantage is that there is no clear entity on the surface, which reduces legal risks. However, as the profit-making effect of inscriptions spreads, these characteristics are gradually weakening:

1. Fair issuance no longer exists, and emerging inscription projects often use preset times and batch robots.
2. The concept of full circulation is being challenged, with some projects reserving 50% for DeFi and GameFi staking.
3. The difficulty of small bets with big gains has increased, as high Gas fees have caused a surge in participation costs and increased risks.
4. The role of the project party is becoming increasingly obvious, through preset robots or collaboration with off-market merchants for speculation.

The Sustainability of the Inscription Craze

Despite the aforementioned changes, the inscription craze is likely to continue. Compared to the NFT and ICO booms in past bull markets, the current hype around inscriptions still has room for growth. As the only new asset class that has emerged in this round of the bull market, inscriptions have vast potential for future development. Additionally, veteran miners in the crypto sphere also tend to support the trend of high Gas fees to maintain their profitability.

Inscription Project Investment Strategy

1. Focus on innovative inscription projects with Web3 application potential, especially those that add real value based on meme attributes.
2. Participate cautiously in the short term, focusing on projects that are likely to be listed on mainstream exchanges.
3. Pay attention to some established inscription projects, such as BRC20's OXBT (large holder base, high consensus) and Deed (small market cap, easily controlled).

Outlook on the Future of Inscription

1. Opportunities for sudden wealth are decreasing: The myths of getting rich quickly by early mining of BTC or ORDI, as Satoshi Nakamoto did, are difficult to replicate, and one must be wary of market manipulation.
2. Medium yield opportunities still exist: Focus on inscription projects expected to be listed on mainstream exchanges, which may bring substantial returns.
3. Seek innovative applications: Focus on projects that can combine inscriptions with DeFi, GameFi, SocialFi, etc., which may become the next hotspot.

Overall, the inscription market has entered a new phase. Although early opportunities for huge profits have become rare, there is still potential to be tapped. Investors should remain rational, focusing on projects with practical application value and innovative potential, while also being wary of high risks and market manipulation.