In a recent thread on Reddit, user “Legal-Boss-3425” shared news of the NFT sale, which caught the attention of many in the community. The post details the sale of Inscription #121, the first NFT depicting a bitcoin ordinal block, for 1.21 BTC, or approximately $28,600 at press time.
For those unfamiliar, NFTs are the only digital assets stored on the blockchain that can represent everything from art to music to tweets. Specifically, Bitcoin Ordinal is a protocol for sorting Bitcoin transactions by value, with the aim of making transactions more efficient.
First-ever Bitcoin ordinal NFT sold for 1.21 BTC @azcoinnews https://t.co/uUNp2GwVPZ pic.twitter.com/m8NG8JzTmi
— Kyptos (@azcoinnews) March 1, 2023
The sale of Inscription #121 marks an important milestone for the NFT community as it demonstrates the growing interest and demand for NFTs created using the Ordinal protocol. Even Yuga Labs, creators of the popular NFT series Bored Ape Yacht Club, recently announced that they would be launching their own NFT series through Ordinal.
The Ordinal protocol is growing in popularity as it allows the creation of unique, verifiable and tradable digital assets on the Bitcoin blockchain, which was not possible before. As more and more people began to see the potential value of these digital assets, this led to an increase in interest and investment in the NFT space.
It’s clear that the NFT market is continuing to grow, and with the introduction of protocols like Ordinal, we’re likely to 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.
- Yuga Labs intends to mint a new series of NFTs on the Bitcoin network through Ordinals
- Someone forked the Bitcoin serial number NFT into the Litecoin blockchain
according to Kyptos