BRC-20s: The Past, Present, and Future

A New Token on the Block

BRC-20s are one of the newest token standards in the crypto ecosystem. Exploding into popularity during the recent memecoin craze, BRC-20s surpassed their humble origins as an experimental idea and briefly grew to a market cap of more than $700M. The market for these Bitcoin-native tokens is still extremely nascent, but BRC-20 enthusiasm already significantly impacts Bitcoin.

However, despite their popularity, BRC-20s have still primarily gone unnoticed by many market participants who have written Bitcoin developments off. Additionally, the documentation surrounding BRC-20s and BRC-20 projects is not the greatest. So understanding BRC-20s and experimenting with them is often an expensive lesson in trial and error. That is where we hope this report can help.

In this report, we analyze