Ever heard of Ordinal Inscriptions? No worries if not! They’re basically cool digital doodads created on the Bitcoin blockchain. Think of them as tiny digital treasures attached to individual satoshis – the itty-bitty building blocks of Bitcoin. But here’s the kicker: they’re as rock-solid and unchangeable as Bitcoin itself!
The Ordinal ecosystem is popping with Bitcoin almost back at its all-time high of 2021. Numerous airdrops have been dropped and are coming, and the floors of collections seem to be up only. It’s time for a little refreshment of what inscriptions are and what collections to follow.
What are Inscriptions?
So, what’s the big deal? Well, these nifty creations let crypto artists jazz up Bitcoin with their imaginative flair. They can slap on images, videos, or whatever strikes their fancy onto these little satoshis, and voilà! They’ve got themselves a unique piece of digital art securely stored on the blockchain. Now, let’s break it down a bit. See, Bitcoin doesn’t have all those fancy smart contract thingamajigs like Ethereum does.
But fear not, because, in December 2022, a clever chap named Casey Rodarmor had a light bulb moment. He figured out that every single satoshi ever mined can be tracked down, thanks to the order in which they were dug up. It’s like giving each little satoshi its own serial number.
But wait, there’s more! Rodarmor didn’t just stop there. He realized that you can stick stuff onto these satoshis – like text, images, or even a cat video if that’s your jam. And just like that, a plain ol’ satoshi transforms into something unique and trackable, kind of like those trendy NFTs you might have heard about.
So, there you have it! Ordinal Inscription Numbers – the hip new way for crypto artists to leave their mark on the Bitcoin blockchain. It’s like graffiti for the digital age, but without the risk of getting caught by the cyber-cops!
Low Inscription Numbers are FLAMING HOT! 🔥🔥 Moreover, low inscription numbers hold historical significance in the crypto realm. They mark the genesis of the Bitcoin blockchain, capturing the essence of its earliest moments. Just like uncovering an ancient artifact, these low inscription numbers offer a glimpse into the foundation of the digital revolution that is Bitcoin. The theory is that the lower the number, the more historical value it has.
We’ve seen several Million Dollar sales by collectors hunting these gems. To put a little perspective, at the time of writing, there have been over 60 million inscriptions on Bitcoin, in a little over a year. I can imagine, that by the end of this bull market, we will be well north of 500 million inscriptions.
More data on Duneanalystics: last week, the 2nd ever-inscription #2 sold for a whopping 24 BTC ($1.4 Million)! It’s a GIF of a parrot. Do you think they bought it for the art or the historical significance? While in December 2023, the #8 inscription sold for 10 BTC.
Other than straight-on low numbers, the ordinal community has also shown love for the early 10k PFP collections out there. Let’s have a look at 3 right now.
NodeMonkes
Just 2 months ago the NodeMonkes (SEND NODESSSSS) came to the scene as the first original 10k PFP collection on Ordinals. How is it po… (truncated) 🙇🙇🙇