**Welcome back to episode 279 of The Block Runner Podcast. As always, we have your host William talking with your cohost I-man as we discuss cryptocurrency developments while we make this new technology relatable to you. You can watch the full episode on YouTube AND stay up to date by subscribing to our newsletter at TheBlockRunner.com.
Here are some of the topics they discuss today:**
First up, revisit Bitcoin DeFi through the lens of this cycle’s emerging “industry cook”: digital-asset treasury companies.
Next, Do we really need native Bitcoin primitives, or will off-chain/custodial routes—UTXO time-locks and loan products be enough to make BTC productive?
and Finally, we pressure-test trench metas like Pokémon “phygital” and map where the music could stop.
Alright, let’s listen in!
No interview this week so we take the time to discuss recent events such as Bitcoin reaching a new paradigm in price discovery and also reflect on the 1 year DMT anniversary live stream from last week. This was a full circle demonstration of how Bitmap and the DMT ecosystem align to produce engaging experiences in the metaverse on Bitcoin. With the surge in AI agent interest we postulate how this technology will interplay with the existing metaverse landscape as well as share ideas in how it can be utilized to enhance BitmapOS. With AI Agents most useful feature being the ability to complete tasks on command, the need for “jobs” in the metaverse needs to exist. The most relevant job requirement for the Bitmap ecosystem is the ability to construct 3D assets on parcels. AI agents who can assist in this regard will prove tremendously valuable to the metaverse economy.
We then pivot our discussion to $NAT which is in dire need of liquidity assistance. During the holidays Ordinals Wallet was no longer supporting the trading of $NAT tokens which made it clear that additional options for token trading need to exist. However to be listed on centralized exchanges requires tremendous capital so initiatives need to be put in motion in order to aggregate liquidity to complete the process and to grant $NAT new market exposure. We discuss some of these initiatives and plans and hope to see the DMT community align with our strategy in hopes for a billion dollar market cap for $NAT which we believe will serve as a catalyst to attract liquidity for the entire DMT ecosystem of creators.
We hosted a DMT celebration for the 1 year anniversary of the protocol inside 100.Bitmap. This event is a full circle moment for us after 5 years developing in the metaverse to see our community present in the metaverse on Bitcoin as we live broadcasted our own podcast to them. Through the scene we created we had on display all of the creations over the last year. From the first non-arbitrary fungible tokens like $NAT to the over 50 UNAT collections and metaverse avatars/wearables. We also were able to bring DMT Pirates on stage and have an in-world conversation with them as they explained their upcoming UNAT launch. We achieved so much as a community already, and year 2 we have even higher ambitions to create killer products and market verticals that expand the use case and application for DMT creators. We believe more events like this will help present Bitmap in a bright light and attract many more people the metaverse on Bitcoin. The demonstration of this event showcases some of the major technology upgrades coming to the NATRIX and BitmapOS supported ecosystems. With the collaboration with Msquared, all Bitmap owners will have the ability to leverage this technology to build out their own ecosystems. We are proud of the progress we have made and the community we are building who have an aligned belief in the power of a non-arbitrary metaverse ecosystem built on Bitcoin. Huge thanks to all who attended the event, more events will be hosted in the future.
We chat with Charlie (CBSpears), creator of Blockspace Media and a Bitcoin OG about the current state of the Bitcoin ecosystem. We ask him about how he has perceived the Bitcoin culture’s evolution within the space as he has been a participant pre and post Ordinals. Charlie views Bitcoin as not only being in a price discovery phase but also in a narrative discovery phase as Bitcoin is becoming more complex and dynamic than what it originally was. With memes overtaking overall crypto market sentiment and Murad acting as a driving force for this sectors growth, we ask Charlie how he views this sector interplaying with Bitcoin and the ecosystem brewing within it.
We discuss the existential miner subsidy crisis not many are openly discussing, which could pose future risks if more awareness and careful diligence isn’t directed toward solving the impending issue. With Charlie’s background and expert knowledge of the Bitcoin mining industry we propose to him the $NAT token miner subsidy model. He gives his honest interpretation as to whether it is a good idea to help miners discover new verticals of long term sustainability. Overall Charlie views DMT and other metaprotocol experiments as too early to tell whether they will be main contributors to Bitcoin in the long term.
We discuss the future of DeFi on Bitcoin with the Ghosty and Launchpunks team, both TAP ecosystem developers launching TAP tokens very soon. We break down how the Launchpunk platform functions and aids projects in aggregating attention and community support when first entering the market. Doing so by introducing new dynamics to launch pool participation through social media engagement and community support. With Ghosty being the first project launch through Launchpunks, the TAP ecosystem has new tools and infrastructure to begin propagating new projects. Ghosty is taking its very successful bridging protocol that has processed over 50M in volume and describes taking the ecosystem into a much broader direction supporting multiple facets of DeFi. We go over the extensive roadmap for the Ghosty team and talk about the current migration from Ghosty to Spooky tokens which have several utilities. We discuss how utility tokens and projects that introduce fundamental infrastructure find product market fit in today’s climate that is heavily focused on memes.
We have a way over due discussion with Benny, the creator of TAP/TRAC/PIPE which is the first protocol stack on Bitcoin developed to bring programmability to the Bitcoin space. We discuss Benny’s journey from a lone developer during the early days of Ordinals to now having spent the last year and a half building one of the most ecosystems on top of Ordinals. From supporting DeFi on Bitcoin L1 to making the TAP protocol suitable for cross-chain application. Benny then gives us his take on the DMT ecosystem and how it introduces many new fundamental value adds to Bitcoin, which aligns with his development approach of preserving the spirit of Bitcoin in everything he creates.
We introduce the idea of $NAT as a miner directed distributed token which will introduce a new DMT ecosystem distribution method that enables token deployments to be directly distributed to winners of the Bitcoin subsidy. This eliminates the issue of bot controlled minting of newly produced DMT assets and instead supports the security of the Bitcoin network by introducing the first additional subsidy reward for miners in the network. We feel this will align DMT more directly with Bitcoin considering the assets being produced non-arbitrarily from Bitcoin’s data substrate layer rely on preserving Bitcoin’s security and immutability.
We then discuss Benny’s overall thesis on the direction of the Bitcoin ecosystem and web3 as a whole. Arriving to a similar conclusion as ours that envisions the metaverse as the ultimate end game for all technology primitives native to web3 to intersect and appl