In a recent post on Reddit, user “Legal-Boss-3425” shared news of an NFT sale that has caught the attention of many in the NFT community. The post details the sale of Inscription #121, the first-ever NFT depicting a block of Bitcoin Ordinal, which was sold for 1.21 BTC, or roughly 28,600 USD at the time of writing.
For those unfamiliar with NFTs, they are unique digital assets that are stored on a blockchain and can represent anything from art to music to tweets. Bitcoin Ordinal, specifically, is a protocol used to order Bitcoin transactions based on their value and is designed to improve transaction efficiency.
The sale of Inscription #121 marks a significant milestone for the NFT community as it shows the increasing interest and demand for NFTs created using the Ordinal protocol. Even Yuga Labs, the creator of the popular NFT collection, Bored Ape Yacht Club, has recently announced that they will be launching their own NFT collection using Ordinal.
The Ordinal protocol is gaining popularity as it allows for the creation of unique, verifiable, and tradable digital assets on the Bitcoin blockchain, which was previously not possible. This has led to an increase in interest and investment in the NFT space, as more people begin to see the potential value of these digital assets.
It is clear that the NFT market is continuing to grow, and with the introduction of protocols like Ordinal, it is likely that we will see even more innovation and creativity in this space in the coming months and years. The sale of Inscription #121 is just one example of how NFTs are changing the way we think about ownership and value in the digital age.
Read more:
- Louis Vuitton Partners With The 93-Year-Old Japanese Contemporary Artist Yayoi Kusama To Launch 10,000 NFTs
- Yuga Labs Plans To Mint New NFT Collection On Bitcoin Network Using Ordinals Protocol