Ordinals, the new project that allows users to put NFT-like assets on the Bitcoin blockchain, grow raplidy. Daily mint has broken 5,700 with total mint reaching 18,125. (according to a Dune dashboard)
It is discovered that someone has bridged the Bitcoin NFT to Ethereum and is currently on sale on Opensea, the project name is "On the Edge of Oblivion". Described by the project: "All pieces are now securely inscribed on the Bitcoin blockchain. Inscription order is based on your ERC-721 token ID. You will be able to view your counterparty Ordinal sitting safely in a Bitcoin wallet made specifically for each token on the dashboard, and once proper infrastructure for Ordinals is available that is user-friendly, you will be able to burn your ETH token for a BTC Ordinal."
The minting price of the project is 0.025 $ETH, the current floor price on Opensea is 1.6 $ETH.
Despite the craze for the Bitcoin NFT, the project also sparked controversy as it resulted in transactions that take up the full block szie of Bticoin network and increased network fees. Over 20% of the max blockspace of Bitcoin network is now occupied by Ordinals, according to data from the Dune dashboard.
NFT on Bitcoin network differs from those on Ethereum in that one has to run a bitcoin full node to mint and sell these NFT-like assets, while buying is only available through the OTC market, as explained by a Twitter KOL.
Bitcoin
NFT
OpenSea
