NFTs
Non-Ordinal NFTs Soar as Users Rush to Acquire First BTC NFT
While NFTs have driven decentralized finance applications on Web3, Bitcoin has lagged behind in this regard. However, with the advent of Ordinals, a new protocol, this is changing.
Excitement builds for BTC NFT collection
The introduction of NFT Ordinals have disrupted the crypto space, especially on the Bitcoin Blockchain.
Holding your own BTC NFT is now a reality for users as Unordinals continues to make impressive strides in the space.
Unordinals is described as the original collection of 1000 PFP in BTC. While we’ve already seen the kind of influence Cryptopunks have had on the space, bringing in outside interest and excitement, Unordinals have started to show similar signs of promise. We reached out to the project’s founder, Untoshi, to learn more about what inspired the innovative project.
“I found out about ordinals from one of my close friends in about 7,000 submissions and immediately knew this wasn’t going to be a 1-week hype train,” comments Untoshi, going further. “During this time, ordinals were a very complicated process and I wanted to find a way to introduce people to the ordinal space in the easiest way possible. After talking to a few people, I discovered a way to be able to connect your ETH NFT to the BTC blockchain through a recording mechanism.”
Learn about Non-ordinals today.
Untoshi has been described by the community as an intriguing figure who hides in the shadows. His decision to induct the collection into BTC has proven to be an inspired decision as excitement builds around the collection. The process of acquiring an Ordinal NFT in your BTC wallet involves users burning their ETH NFT through the continuous burning mechanic that the project has built.
“Most of the projects that were already on BTC were some kind of derivatives or had extremely low supply where there wouldn’t be enough NFTs to support an active community. So I immediately knew I wanted to do something original and with greater supply if I wanted to stand out, I have another close friend who is a great pixel artist so I pitched the idea to him and he made the art in about 2 days. are at a minimum price of 2+ ETH, over 1,200 volumes of ETH traded, over 30% of NFTs linked from ETH to BTC via the burn mechanism, and last but not least, one of the best communities that I could ask,” Untoshi added exclusively to BSC News.
The first thing Untoshi becomes apparent in our communication is how humble a builder he is, with his story likely inspiring many others in the space who are considering a similar move.
Although a staggering 27% has already been burned, there appears to be no immediate rush for users as they wait for the Unordinals Wallet to be developed. Untoshi was quoted saying that users should take risks when they feel ready. Where users have certainly been most active is in acquiring the initial ETH NFT Unordinals. The past week has seen a huge increase in purchases as many recognize the value of holding a new BTC NFT for the foreseeable future.
We will leave a final hopeful note from the project founder himself:
“As I mentioned earlier, I think BTC NFTs are here to stay. We are the first original 1k supply PFP collection in BTC and our goal is to be the #1 BTC collection and we will do whatever it takes to achieve that. What is dead may never die.“
What are non-ordinals:
Unordinals are a collection of inscriptions of size 1,000 inscribed in BTC in the 45-55k space. What makes this project unique is that it is part of a new generation of NFTs that are minted on the Ethereum blockchain and then allow the NFT holder to burn it and receive an ordinal BTC NFT in its place.
These NFTs can be purchased on popular ETH marketplaces such as Opensea and Blur, which is an innovative way to attract more users to the space. The initial public mintage for Unordinals was 0.05 ETH, and the current floor on Opensea is 0.309 ETH.
It is worth noting that the site features a live burn counter, which is currently at 184/1,000, indicating that the majority of holders are choosing not to burn for an ordinal at this time. However, as users become more familiar with the ordinal wallet, more burns are expected to occur.
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DISCLAIMER: It should be noted that BSC News team members own Unordinals NFTs. The BSC News team is committed to providing unbiased coverage and will strive to present all information accurately and objectively. Readers are encouraged to conduct their own research and make their own informed decisions about Unordinals and any related investments.