Runescription

What is Runescription

Runescription is an experimental standard that combines Runes with Ordinals using the UTXO mechanism. Typically, this means a single UTXO contains both an Ordinals NFT and a varying amount of Runes FT.

You need to etch a rune for your collection and set the parameters. All NFTs minted through the launchpad will carry a specific number of tokens. Of course, you can also choose runes that are already etched, like No.0 Rune.

The number of Rune tokens each image carries is determined by the "per mint" setting. For a 10k collection, if you choose to combine with the No.0 Rune, each image will carry 1 token (as UNCOMMON•GOOD's "per mint" is 1). If your Rune token's "per mint" is 2100, then each image will carry 2100 tokens.

Applications

• The prerequisites for Bitcoin NFT swaps.

The UTXO mechanism enables the possibility to swap NFTs while swapping tokens. Because they are in the same utxo, when the token is moved, the NFT will be moved as well.

• Addressing the Issue of NFT Illiquidity

NFTs often don't get as much attention and liquidity as tokens, but combining them can solve this issue. You might only need to control one side to balance the market.

"Memecoins that can act as NFTs and vice versa will be an ongoing trend this cycle - benefits of liquidity of token + cultural association for groups of relatable imagery."