• Ordinal inscriptions on the Bitcoin blockchain have seen a surge in popularity, with over 150,000 inscriptions across various collections.
• Creators are monetizing artworks via blockchain technology and launching collections such as Ordinal Punks, Ordinal Penguins, Bitcoin Shrooms, Inscribed Pepe, Planetary Ordinals, Based Apes, Satoshi Punks and more.
• These collections are being sold for significant value and trade of NFTs is becoming more common.
Monetizing Artwork on Bitcoin Blockchain
The use of blockchain technology has now made it possible to monetize artwork thanks to Ordinal inscription collections on the Bitcoin blockchain. With more than 150,000 inscriptions spread across multiple collections like Ordinal Punks,Ordinal Penguins and Bitcoin Shrooms, these tokens can be sold for significant value with trades between them becoming increasingly more common.
Establishing “Blue-Chip” Digital Collectibles
Blockchain networks such as Ethereum are already popular for their digital collectibles like Cryptopunk 4155 or Bored Ape Yacht Club (BAYC). These NFTs have become known as „blue-chip“ NFTs as they have maintained high values since their launch and continue to sell well on open markets today. The new trend of Ordinal inscriptions is similar in nature but differs due to its limited supply compared to these other collectibles. For instance the collection features only 100 pixelated punk characters – much lower than the 10,000 available Cryptopunks.
Other Popular Collections On The Rise
The trend doesn’t stop there; other collections such as Punks on Bitcoin and Satoshi Punks are also popular amongst collectors looking for pixelated punk characters while Rare Pepe NFT collection made with Counterparty has given rise to newer Pepe based collections such as Inscribed Pepes and Immortal Pepes. Other notable collections include Ordinal Rocks, Block Munchers ,Bitcoin Toadz XC Pinata ,Ordinal Eggs ,PlanetaryOrdinals ,Ordinal Smokes & Based Apes .
Confirmed Trade Value Highlighted On Social Media
Trades between these different NFTs are becoming increasingly common with users highlighting notable trades across social media platforms including Twitter where an example of a successful exchange was highlighted – an exchange of Cryptopunk #4155 for an Ordinal Punk 16 token. This further highlights the increasing value that these digital assets hold amongst collectors who look forward to establishing themselves in this emerging market .
With millions of dollars invested into collecting digital artworks via tokenization over the past few years , we can expect even greater demand for the same in coming years . This will likely result in increased price points & liquidity options which could lead to further mainstream adoption & acceptance of cryptographically secured digital art – ushering in a new era of collecting & artistically expressing yourself !