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 possible, that they are the first?
Well, the team smartly inscribed the collection on the Bitcoin blockchain but sat on them this whole time. Only recently they released them to the public. As this is all on the chain, it’s easily trackable that Nodemonkes were the first 10k inscribed. Their inscription range is between 83522 to 111319. Which puts around half the collection in the sub-100k ordinal club.
I personally flipped a couple for a measly 0.16 BTC of profit in total. But with their floor over 0.88 BTC now, I can conclude I made a tremendous fumble by selling these.
This Alien Node Monkey with a hoodie, sold for 17 BTC (over $1 Million) just 2 days ago.
Bitcoin Frogs
For the longest time, the Bitcoin Frog community claimed to be the first 10k PFP on BTC.
After they lost the title to the NodeMonkes they have firmly held their value around 0.15-0.20 BTC, while currently at 0.24. Funny enough, they were never first but actually 3rd. That is if you discount the blatant copy pasta collections like Bitcoin Punks. Their inscription range is between 381224 to 412389.
This collection has a mix of traits, but unlike other collections, there isn’t much rarity involved. A frog is a frog.
A nice thing about the frogs and monkes is that they are often included in the Ordinal Airdrops. Whether that’s a free ordinal mint or a free BRC-20 token claim.
MegaPunks
The last 10k collection we discussed today is MegaPunks.
This collection actually started on Ethereum and bridged to Bitcoin. It was always in the plans to be on Bitcoin. However, at the time, ordinals were so new and had such little audience, that the team decided it was best to start on ETH to catch some interest. Their inscription range is between 219219 to 328418.
The price of these is only 0.008 BTC. Compared to NodeMonkes and Bitcoin Frogs, that looks cheap! My personal note would be that these aren’t as great as PFPs. The smaller characters and sideways view make them a collectiontable, but not a profile picture. Have a look at them yourself.
The Low Inscription Clubs
Let’s run it back to the low digits.
Similar to the ENS days, people look at round numbers that are early. With inscriptions that translate to Sub 1k, Sub 5k, Sub 10k, and Sub 100k clubs. Meaning the inscription is below that digit.
The funny thing is, when Ordinals went live on BTC, people were inscribing random stuff on the blockchain. You will find voice messages, drawings in paint, random images, and a lot of crap. Now this is where it becomes interesting for a collector.
With some low inscriptions holding clear premium value, like the first 10 inscriptions. At some point, the quality of the inscriptions outweighs the digit. Is a picture of a black square inscribed on #770 worth more than a piece of internet history inscribed on #1400? I’ll let you be the judge of that.
As an example, this iconic meme inscription #1560 is listed at 0.25 BTC.
For collectors hunting quality low inscriptions is almost like a sport. You have to dig through the shit to get to the gold.
Trade Ordinals on Magic Eden
The biggest marketplace to trade ordinals is Magic Eden. Now, listen up. Magic Eden has rewarded past volumes of Solana NFTs and Ethereum NFTs with diamonds. These diamonds are tradable on pre-markets
Wouldn’t it make sense ordinals are next in line?
I personally believe that ordinal collectors and traders will be rewarded shortly. If you’re interested in this corner of the market, you might as well farm some airdrops along the way.
Final Thoughts
In conclusion, Ordinal Low Inscription Numbers are not just a cool feature for crypto enthusiasts; they represent a fusion of art, technology, and history. As more artists and creators delve into this innovative space, we can expect to see the Bitcoin blockchain evolve into a vibrant canvas for digital expression. So, whether you’re an artist looking to make your mark or simply curious about the latest trends in crypto, keep an eye out for those tiny but mighty satoshis carrying a piece of creative magic in their low inscription numbers. Who knows, you might just stumble upon the next digital masterpiece!
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You might also like our recent content about the new hyped token standard ERC-404 & The meme coin frenzy of this week.
