UMBRELLA is a token minted on the Counterparty protocol on Bitcoin on November 5, 2014. It is an early example of a “Phygital” token, that planned to be redeemable for a physical orange umbrella with the iconic Bitcoin Logo “₿” printed on it. UMBRELLA has a supply of 300. The image of the umbrella was attached to the token in later in 2021.
The developer Lite₿it first published his idea of creating 600 Bitcoin Umbrellas on the forum Bitcoin Talk. It was was also promoted on bitcoinblackfriday.com with a price of $24.99 each. At that point in time Counterparty didn't have a dispensing mechanism. Lite₿it set up a vending machine through Vennd.io that accepted Bitcoin in exchange for an unlimited number of the token. Despite the concept of minting a non-fungible token being very novel, no one initially bought a token.
With the increased attention on NFTs in 2021, historical NFTs on many chains gained attention. Since the token had no accompanying image at that point of time, Lite₿it reached out to crypto artist M0d3D3b0 to create a decent artwork for the token. On October 8, 2021 the artwork was added to the tokens. It displays the symbolic character of a shiny orange umbrella representing Bitcoin, that is standing out in a crowd of ordinary gray umbrellas.
In late 2021 Lite₿it set up new dispensers on Counterparty and the tokens were quickly minted out by historical NFT collects. On December 22, 2021 a supply of 300 UMBRELLA.ORIGINS tokens was minted and given out as a dividend to hodlers. This NFT displays the fictitious backside of the UMBRELLA "card" and gives a brief description of the history of the original token written by Lite₿it. UMBRELLA.ORIGINS was issued as part of the PEPEVERSO project.
Supply and rarity
UMBRELLA was originally minted with a supply of 600 tokens. 300 UMBRELLAS were burned at Block #708708 on November 8th 2021. The physical Umbrellas are still yet to be claimed and produced, so currently all UMBRELLA tokens carry the value "unclaimed".
- Twitter. Published 2022. Accessed December 1, 2022. https://twitter.com/LiteBitCo/status/1480585057765150721
- Bitcoin Umbrellas - Stand out from the crowd! [SURVEY] Pre-sale coming soon! Bitcointalk.org. Published 2022. Accessed December 5, 2022. https://bitcointalk.org/index.php?topic=856122.0
- Do your holiday shopping with Bitcoin this year. Archive.org. Published 2013. Accessed December 12, 2022. http://web.archive.org/web/20141216221832/http://bitcoinblackfriday.com/#cat=4