Introduction
In January 2023, software engineer Casey Rodarmor launched the Ordinals protocol on the Bitcoin network, which allowed for the creation of NFTs on the mainnet. This understandably caused a lot of excitement and controversy within the Bitcoin community. Some traditionalists saw the protocol as a threat to the network, while others eagerly began creating Inscriptions – Bitcoin’s version of NFTs.
The number and order of Ordinals being created on the Bitcoin blockchain have been closely watched, and there have been some remarkable collections and high-priced sales. This article highlights some of the most interesting and valuable Ordinals Inscriptions, ensuring that readers don’t miss out on this significant development in the history of Bitcoin and NFTs.
What are Ordinal NFTs?
If you’re wondering, “What are Ordinal NFTs?”, read on.
Bitcoin is divided into small units called satoshis or sats, with each Bitcoin consisting of 100,000,000 sats. The new Ordinals protocol now allows for data to be added to each of these sats by those who run Bitcoin nodes, effectively creating a new type of digital asset called an “Ordinal.”
Unlike traditional Bitcoin transactions, which simply involve sending and receiving value between parties, Ordinals enable the inclusion of smart contract codes within a Bitcoin transaction. This code can then be used to create non-fungible tokens (NFTs) directly on the Bitcoin blockchain.
In simpler terms, Ordinals are like NFTs that can be directly created on the Bitcoin blockchain. However, there are some key differences between Ordinals and NFTs that should be noted, despite their similarities.
What are the Top Most Ordinals Inscribed?
Ordinals have gained significant popularity since launch. They are witnessing the creation of fascinating collections and impressive sales, with some pieces selling for hundreds of thousands of dollars.
One of the most notable collections is Ordinal Punks, which pays homage to CryptoPunks and consists of 100 Bitcoin NFTs minted within the first 650 Inscriptions on the Bitcoin chain.
Another noteworthy project is Taproot Wizards, which is the largest block and transaction in Bitcoin’s history, coming in at 4MB.
Meanwhile, the Ethereum-based OnChainMonkey (OCM) project has minted 10,000 Ordinals into a single Inscription, making it one of the first 10,000 collections on Bitcoin.
As the Ordinals market matures, more innovative collections are expected to emerge.
Top 10 Ordinal NFTs You Should Know
1. Ordinal Punks
Ordinal Punks is an exclusive collection of only 100 Bitcoin NFTs that pays tribute to CryptoPunks. The NFTs were created through a generative PFP collection of 192×192 pixel images, which were produced using an open-source algorithm by the pseudonymous Web3 creator FlowStay.
Due to the infrastructure requirements of Bitcoin, bids and asks for the NFTs are managed on a Google Sheet, with the creator of the project acting as an escrow on Discord.
As of now, the lowest bid for an Ordinal Punk is 3.7 BTC/51.26 ETH, while the highest asking price for the most popular piece, Ordinal Punk 78, is 50 BTC/692.66 ETH. Recently, a buyer named dingaling bought seven of the Punks for 15.2 BTC/211 ETH.
2. Taproot Wizards
Taproot Wizards is a unique Ordinal collection on the Bitcoin chain. Created by independent Web3 developer Udi Wertheimer, the collection consists of hand-drawn NFT wizards inscribed on the Bitcoin chain, starting from Inscription 652.
The first Ordinal in the collection is known for being the largest block and transaction in Bitcoin’s history, clocking in at a massive 4MB. The project is still in its early stages, with only a handful of Taproot Wizards inscribed on the Bitcoin chain so far.
The Wizard ID verification page on Discord only confirms six of them, including Inscriptions 1107, 1383, 2637, and 2625.
Since Bitcoin’s infrastructure requires users to operate a full Bitcoin node to make an Inscription, Taproot Wizards transactions take place on the Bitcoin chain and are publicly visible on a block explorer.