The founder of Ordinals Protocol has released new runes. Does it meet expectations?

If you know about the Runes protocol, you should know that Rune 0 "UNCOMMON•GOODS", the first rune to be etched (deployed) after the Runes protocol went online, was created by Casey. However, this rune is "limited in time and unlimited in quantity", and the casting period is as long as 4 years, which makes it difficult to form short-term speculation space.

However, last week, Casey made another move. This time, he etched a new rune called "MEMENTO•MORI" on the inscription No. 0, with a total of 100 million (100,000 copies). Among them, half of the total, that is, 50 million (50,000 copies), has been airdropped at the Bitcoin block height of 868113. The airdrop targets users who subscribed to the Bitcoin podcast "Hell Money" and submitted the airdrop address. The podcast is co-hosted by Casey and Erin Redwing.

According to Casey and Erin in the Hell Money podcast, "MEMENTO•MORI" was not an accidental idea. First of all, before the launch of the Rune Protocol, Casey proposed an idea to hard-code the first 10 runes (in layman's terms, the first 10 runes are directly deployed). Although this idea was not implemented in the end, "MEMENTO•MORI" was one of the 10 runes considered at the time.

"MEMENTO•MORI" is a Latin phrase that means "remember that you will die", reminding people to think about the brevity of life and the inevitability of death, encouraging them to face the finiteness of life in their daily lives, and allowing people to cherish the present more and live a meaningful life, rather than just indulging in material or fame. The rune was finally etched on the inscription No. 0 in the image of a "skull", which also corresponds to the theme and even the horror atmosphere of Halloween.

Inscription No. 0

Another motivation for issuing this rune is that Casey and Erin regard the subscribers of the Hell Money Podcast as a community that supports them. They have been very grateful for the subscribers' support for the Hell Money Podcast for a long time and want to do something for the subscribers, so 50% of the total amount is airdropped to the subscribers without reservation.

The remaining 50% will be minted at block height 868186. The block was originally expected to be reached at 13:00-14:00 Beijing time, but because the specific time fluctuates with the speed of Bitcoin network block production, the minting unexpectedly started at 10:30 in the morning. The four-digit miner fee rate expected by most market players may be due to the lack of sufficient response to the early start of minting, and the time interval between the six blocks after the start of minting is quite short, averaging only a terrifying 4.5 minutes.

According to Magic Eden, the total market value of this rune has reached 14 million US dollars. According to satosea.xyz, the average mining fee (cost) for casting this rune is about 584.5 sats/vb (420 US dollars per piece). This is the first rune deployed by Casey that can really make the market hype. Does this market value meet your expectations?