Continuing its remarkable trajectory, Bitcoin Ordinals has achieved yet another milestone, with NFT marketplace Magic Eden witnessing the highest-ever Ordinal sale, totaling 10.4 BTC. This historic transaction involved the Honey Badger collection, a series of 10K inscriptions spanning from 8 to 1029518. The buyer, identified as the pseudonymous Twitter user “OG General,” earned accolades from Magic Eden, which publicly acknowledged the legendary acquisition.
Magic Eden, a prominent cross-chain NFT platform that incorporated BTC Ordinals in March 2023, celebrated OG General on Twitter, hailing them as a “legend.” In response, OG General provided context, highlighting that Inscription 8 was created at a time when Ordinals had minimal attention and was inscribed on January 15 at 1 sat/vB. In a subtle jab at skeptics, popular crypto researcher Zack Voell commented, “Bitcoin Inscription 8 sold for 10 BTC today. But Ordinals are dead.”
Bitcoin Ordinals ignited considerable excitement within the community shortly after its launch in January 2023. Over eight months later, ordinal inscriptions continue to play a prominent role in the BTC network, generating fervent discussions within the cryptosphere. Detractors argue that these inscribed satoshi Ordinals utilize block space inefficiently, potentially leading to increased Bitcoin transaction fees and slower transaction times for network users.
Sotheby’s Pioneers Bitcoin Ordinals in Art
Despite a noticeable decline in sales volume, Bitcoin Ordinals remain an active force. The recent record-breaking sale has reignited interest and discussion surrounding this unique protocol. Advocates of BTC Ordinals are particularly intrigued by its potential to expand Bitcoin’s utility beyond traditional financial transactions.
In a groundbreaking move, Sotheby’s Digital Art Department has entered the spotlight by announcing the inaugural auction featuring BTC Ordinals art. Crafted by the mysterious artist Shroomtoshi, operating under the pseudonym BitcoinShrooms, this distinctive collection is poised to captivate both enthusiasts and collectors.
As reported by TronWeekly, the featured artwork, depicting two distinct mushrooms and a pixelated avocado seed, is anticipated to command a significant price ranging from $20,000 to $30,000, marking a momentous venture into the intersection of cryptocurrency and the art world.