Who Is Archon, Founder Of Ordinal Rugs?
I’ve shared this story a few times, and there’s a short piece about it on the Ordinal Rugs Twitter page that gives a peek into my background and why I started this project. Basically, I’ve been working with rugs for 13 years – it’s a family business that’s been around for more than a hundred years. At the same time, I got really interested in Bitcoin and other cryptocurrencies back in 2013. It started as a hobby, but it became a big passion of mine. I’ve tried different things in the crypto world, like trading, mining, and getting into decentralized finance (DeFi) yield farming. But no matter what, I always come back to Bitcoin.
A while ago, I worked on a small project using the Lightning Network. It was like a message board where you could make posts and pay with Bitcoin’s Lightning feature. It was fun, but the Lightning Network wasn’t widely used at that time. Then came Ordinals – something new that amazed me with its different layers of intricacies. Things like inscription numbers, satributes, artwork, and file size added to the collectability. It brought back my excitement for Bitcoin in a way I haven’t felt in a long time. So, I had this idea to mix my experience with rugs and design into a collection on Bitcoin. I grew up surrounded by rugs, and I really love their beauty. They’re like pieces of art woven and used in different places over the centuries. With this collection, I wanted to honor these timeless designs and make it a bit fun by referencing some famous moments in the crypto world, like Mount Gox, Bitconnect, and Silk Road.
So, the collection is like a tribute to a lifetime spent with rugs, celebrating their beauty, and adding a touch of humor and memories from the crypto world. I’m really thankful for the chance to share this journey with you. Thanks for the interview.
Key Principles That Sustained Ordinal Rugs
I always say that people come into this space with different reasons. These reasons can vary: community building, expressing creativity, or simply wanting to make money. Personally, my main goal is not about money. While money is needed for the costs of creating and inscribing, and to pay my team, I do it primarily because I enjoy it.
Outside of this web 3 world, I have another job. But I find joy in creating something special here, involving people, getting them excited, and making something valuable. These things, to me, are priceless. I enjoy being creative, building communities, and thinking long-term. Being honest, real, and helping others are most important to me.
I try to be genuine in what I do and find real joy in it. Even though I planned to keep some pieces for myself at the start, I couldn’t because so many people wanted them. But I was still happy that the project did well, and people liked it. It gave me a good start for future exciting projects.
While I know time is valuable and there’s a chance for payment, the main goal for a successful creator should be making something people truly enjoy and find value in. Thinking long-term means being careful with actions, not causing problems, and being positive in this changing space. Having a good reputation based on genuine motives is important in this young and active space. I want to be part of this journey from the beginning to the end. So, it’s important to navigate carefully and think about how every move affects things.
Opportunities Ordinal Rugs Has Provided To You As A Founder?
The main opportunity, above all, is connecting with some incredible people—some of the brightest and genuinely great individuals I’ve met are in the ordinal space. Engaging with them has been a significant part of building this project. In the later stages of any collection or project, you need to involve people, leverage resources, and, in the process, you end up meeting amazing individuals.
Another thing is, when you launch a collection and it’s successful, it provides a foundation to build upon. It boosts your confidence when you realize that what you’ve created resonates with the market. This confidence becomes inspiration to do even more. After the Ordinal Rug collection sold out, I had other ideas brewing, but I hesitated to execute them because I wasn’t sure if people would like my original idea. The strong response from the market showed that they did, inspiring me to build on the success and pursue other ideas that align with the original project. I believe that’s the most significant aspect—when you release something and the market likes it, it resonates, allowing you to iterate and pursue more ideas.
Difficulties Faced While building Ordinal Rugs?
The biggest challenge occurred when I launched the project in July, right at the beginning of the bear market for ordinals. There were several waves happening, and I think it was towards the end of one of those waves, maybe the first or second. In July, there were many things going on in the broader NFT space. The Azuki debacle during the launch of the Element collection had a significant impact on NFTs in general. Additionally, Twitter had issues with rate limiting, and a new platform called Threads had just launched, splitting engagement. Liquidity in the ordinal space was drying up, making it a tough time.
I decided to pull the plug on the project because it wasn’t the right time. I didn’t want holders to face a situation where their assets would be underwater due to low liquidity and a stagnant market. The market was slow for a couple of months, and it was challenging for me. I had to pause everything, which was tough because I had been excited about the process leading up to that point. I put the project on hold, thinking about how to improve and repackage it for a better time. This process took several months, from July to the time of minting in late November.
During this time, I faced challenges with timing and market conditions, leading me to question if I did something wrong or if I should have acted differently. It’s a natural process for any artist or creator to become critical of themselves. The period in July, when I had to pause the mint, was indeed a tough time for me.
On the final note, One thing I did say as a builder is there will be tough and difficult times, some of those times need you back at the drawing table, some need you back to have a discussion with your community, some need you to keep forging ahead. Know what time you are in and play your cards right.
