Have you ever heard of Ordinal Inscriptions? If not, don’t worry! It’s basically a cool digital swag created on the Bitcoin blockchain. Think of them as little digital treasures attached to individual satoshis, which are tiny building blocks of Bitcoin. But here’s the key. It is as solid and immutable as Bitcoin itself!
The Ordinal ecosystem is close to recovering its 2021 all-time highs with Bitcoin. There are a ton of airdrops dropping and coming, and it seems like the collection is only going up in tiers. Now it’s time to think a little more about what an inscription is and what collection it should follow.
What is an inscription?
So, what’s the big deal? Well, these awesome creations allow cryptocurrency artists to use their imagination to push Bitcoin even further. They can slap these little Satoshis with images, videos or whatever strikes their fancy. Voila! They now have a unique piece of digital art safely stored on the blockchain.
Now let’s break it down a little. See, Bitcoin doesn’t have fancy smart contracts like Ethereum does. But don’t be afraid. Because in December 2022, a clever fellow named Casey Rodarmor had a lightbulb moment. He found out that thanks to the order in which they were mined, he could track every Satoshi ever mined. This is like giving each little Satoshi a unique serial number.
But there’s more! Rodarmor did not stop there. He realized that he could attach text, images, cat videos, etc. to these satoshis. And just like that, an ordinary satoshi is transformed into something as unique and trackable as the trendy NFTs you’ve probably heard of.
Well, here it is! Ordinal Inscription Numbers – A new trendy way for cryptocurrency artists to leave their mark on the Bitcoin blockchain. It’s like graffiti in the digital age, but without the risk of getting caught by the cyber police!
Low inscription numbers are getting hot! 🔥🔥
Moreover, low inscription numbers have historical significance in the cryptocurrency sphere. It marks the origins of the Bitcoin blockchain and captures the essence of its earliest moments. Like discovering an ancient artifact, these low inscription numbers provide a glimpse into the foundation of the digital revolution that is Bitcoin. The theory is that the lower the number, the higher the historical value. We have seen collectors seeking out these gems generate millions of dollars in sales.
To give you some perspective, as of this writing, over 60 million inscriptions have been made on Bitcoin in a little over a year. I can imagine that by the end of this bull market we will be well over 500 million inscriptions. Additional data about Duneanalytics:
Last week’s second epitaph #2 It was sold for a whopping 24BTC. ($1.4 million)! This is a parrot GIF. Do you think you bought it because of the art? Or do you think it was purchased for its historical significance?
December 2023 has the inscription #8 Sold for 10 BTC.
Aside from the immediate low numbers, the general community has also shown some love for the initial 10,000 PFP collection. Now let’s look at three things.
NodeMonkes
Just two months ago, NodeMonkes (SEND NODESSSS) emerged with Ordinals’ first original 10k PFP collection.
How is it possible that they are the first?
Well, the team wisely engraved the collection on the Bitcoin blockchain but kept it there throughout. Only recently have they released it to the public. With all of this on the chain, it’s easy to track that the first 10,000 Nodemonkes were engraved. Their inscriptions range from 83522 to 111319. This makes up about half of the collection of sub-100,000 ordinal clubs.
I personally flipped a few for a total profit of 0.16 BTC. But now that their bottom is above 0.88 BTC I can conclude that I made a huge mistake by selling this.
This alien node monkey wearing a hoodie Sold for 17 BTC (More than $1 million) Just two days ago.
bitcoin frog
For a long time, the Bitcoin Frog community has claimed to be the first 10,000 PFP in BTC.
After losing the title to NodeMonkes, they have held firm to a value of around 0.15-0.20 BTC and are currently at 0.24. Funny enough, they were never first, but actually third. That’s if you discount blatant copypasta collections like Bitcoin Punks. Their inscriptions range from 381224 to 412389.
This collection has a great mix of characteristics, but unlike other collections it doesn’t have as many rarities associated with it. A frog is a frog.
The nice thing about Frogs and Monks is that they are often included in Ordinal Airdrops. Whether it’s a free ordinal mint or a free BRC-20 token claim.
mega punk
The final 10k collection discussed today is MegaPunks.
This collection actually started on Ethereum and led to Bitcoin. Using Bitcoin was always in the plan. However, ordinal numbers were so new and had little audience at the time that the team decided it would be best to start with ETH to generate interest. Their inscriptions range from 219219 to 328418.
Their price is only 0.08 BTC. Looks cheap compared to NodeMonkes and Bitcoin Frogs! My personal note is that this is not as good as PFP. Small characters and profiles become collection tables, but not profile pictures. Take a look for yourself.
low inscription club
Let’s go back to the lower numbers.
Just like in the ENS days, people see the early round numbers. There are inscriptions that translate as Sub 1k, Sub 5k, Sub 10k, Sub 100k Club. It means that the inscription is under the corresponding number.
What’s interesting is that when Ordinals launched on BTC, people were writing random stuff onto the blockchain. You can find voice messages, painted pictures, random images and a lot of junk. Now this is where it gets interesting for collectors.
There are some lower inscriptions that have a clear premium value, such as the first 10 inscriptions. At some point, the quality of the inscription is more important than the numbers. Is a black square photo engraved at #770 worth more than a piece of internet history engraved at #1400? I’ll leave that judgment to you.
For example, this iconic meme inscription #1560 is worth 0.25 BTC.
For collectors, hunting down low-quality inscriptions is almost like a sport. To get gold you have to dig through shit.
Trading ordinal in Magic Eden
The largest market where you can trade ordinal numbers is Magic Eden. Now, listen carefully. Magic Eden has rewarded large quantities of Solana NFTs and Ethereum NFTs with diamonds in the past. This diamond is available for trading in the pre-market.
Doesn’t it make sense that the ordinal numbers are in the following order?
I personally believe that regular collectors and traders will soon reap the rewards. If you’re interested in this corner of the market, I recommend farming some airdrops along the way.
final thoughts
In conclusion, Ordinal Low Inscription Numbers are not just a cool feature for cryptocurrency enthusiasts. They represent a fusion of art, technology and history. As more artists and creators explore this innovative space, we can expect to see the Bitcoin blockchain evolve into a vibrant canvas for digital expression. So, if you are an artist looking to make a name for yourself or simply curious about the latest trends in cryptocurrency, keep an eye out for the small but powerful Satoshi that packs creative magic in its low inscription number. Who knows, you might just stumble upon the next digital masterpiece!
If you like our content, you can support us by signing up for a Bybit account through our referral link. Don’t forget to claim your bonus if you buy/sell or trade cryptocurrencies.
You might also like our recent content on the new much-hyped token standard ERC-404 and this week’s meme coin craze.
