Stumbled across this site (
https://bitvipcoins.com/ )
Apparently their aim is to pair physical bitcoins with NFTs - “VPB”s” (Virtual Physical Bitcoins)
From all I can see is they are selling NFTs but I don’t see any actual physical coins. Maybe I’m missing something/ overlooking them
They state :
“ It starts by making a Physical Bitcoin and then Virtualizing it
To enhance and revolutionize Physical Bitcoins, a second layer of value is created, referred to as Virtual Physical Bitcoins, or Perpetuals.
Limited Edition NFTs & Physical Bitcoins
Products are developed to naturally enhance Bitcoin reserves with every sale and trade by linking them to a virtually binding NFT contract.
Royalties 👑
With every sale, whether it's an NFT or a Physical Bitcoin, a portion is credited back to you!
Example:
100 (unloaded) physical bitcoins and 100 linked NFTs are produced, with a package cost of $100 each, totaling $10,000 in value. After subtracting production costs, let's say $5,000 remains. From this, 10% ($500) is divided among the 100 physical bitcoins, giving each one $5. Every time an NFT is sold, a 12% royalty goes into a pool, which is split in half and distributed annually. 6% is returned to unspent coins, and 6% supports project maintenance. For example, with $10,000 in annual trade volume, 6% - $600 would be allocated back to any unpeeled coins.
Our NFTs are made of Bitcoins!
Built on Ordianals this system allows for the numbering of individual satoshis, which are the smallest units of Bitcoin. This concept was introduced to provide a way to track and identify each satoshi, enabling more granular interactions within the Bitcoin network. With ordinals, each satoshi can be assigned a unique ordinal number based on the order in which it was mined. This allows users to create and trade unique digital assets directly on the Bitcoin blockchain, somewhat similar to NFTs (Non-Fungible Tokens) on other blockchain platforms. The ordinal protocol enables users to inscribe data onto individual satoshis, turning them into unique collectibles or digital items. This development has opened up new possibilities for digital art, collectibles, and more within the Bitcoin ecosystem.
Contracts
Virtual Physical Bitcoins otherwise known as (VPB’s) or Perpetuals are created through the utilization of the Ordinals protocol. These NFTs showcase specific real world physical bitcoins that are attached too. The digital art pieces acting as virtual binding contracts as part of fractional ownership of very rare, valuable, real-world Physical Bitcoins. This allows individuals to invest in a new profound fashion and involve themselves into a community that can democratize assets for the well being of participants. The project Demonstrates not only is it feasible and can work in practice but proves that, tokenization, community, smart contracts, decentralized democracy, transparent transactions, more flexibility and functality is the future of finance”
Didn’t 4K introduce this concept or something just like it?
My thoughts: will reserve them at the moment
Edit : not sure if these renderings in the “Shop” are to be made physically or what. They seem to have spent a lot of time on the website but feels pretty incomplete
