The digital art collection "Elvis Side $Btc" by Elvis is about to be inscribed on the Bitcoin blockchain in collaboration with the Bitcoin-focused intellectual property project Royalty and the inscription service OrdinalsBot.
Key Points
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The digital art collection by Elvis will be inscribed on the Bitcoin network.
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The collection includes 1,935 generated images inspired by the works of artist Joe Petruccio, licensed from Elvis's estate.
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Royalty will use the revenue from the collection to establish the "Elvis Estate Council," a decentralized autonomous organization (DAO).
Elvis is about to enter the Bitcoin world through a series of digital artworks. This collection, named "Elvis Side $Btc," will be launched in collaboration with Royalty and OrdinalsBot, featuring 1,935 generated images aimed at commemorating the King of Rock and Roll.
The Ordinals protocol allows data to be "inscribed" onto a single satoshi (the smallest unit of Bitcoin), making it unique and capable of holding individual value. This method is similar to non-fungible tokens (NFTs) on Ethereum, which brought digital art into the mainstream in 2021.
OrdinalsBot has emerged as an inscription platform in the Bitcoin development space, claiming responsibility for inscribing 80% of the largest 10 files on the Bitcoin network, including the largest one, which inscribed the declaration of the privacy tech stack Logos, costing 3.5 BTC (approximately $235,000).
These inscriptions are referred to as "four megas" because their size is close to 4 MB, nearing the maximum size of a Bitcoin block.
Toby Lewis, co-founder of Ordinals, stated in an interview: "We see it as getting a billboard in Times Square because its visibility on the Bitcoin network will last forever." (The new Elvis-themed series is more like regular inscriptions rather than four megas.)
Royalty plans to release a lightweight white paper in the coming weeks detailing how to use 5% of primary and secondary sales revenue to fund the Elvis Estate Council, a decentralized autonomous organization (DAO) aimed at "managing the future of Elvis's digital estate," operating through a native token.