by • Ordinal inscription collections on Bitcoin blockchain are growing as creators monetize their artworks.
• These collections include Ordinal Punks, Ordinal Penguins, Bitcoin Shrooms, Inscribed Pepe, Planetary Ordinals and more.
• Some of these NFTs have become “blue-chip” and have maintained significant value in the open market for several years.
Growing Demand for Blockchain Technology
With more than 150,000 Ordinal inscriptions on the Bitcoin blockchain, there is now a growing demand for blockchain technology from creators and artists who are finding new ways to monetize their artworks. This emerging market has seen the establishment of various collections such as Ordinal Punks, Ordinal Penguins, Bitcoin Shrooms, Inscribed Pepe, Planetary Ordinals, Based Apes , Satoshi Punks, Ordinals Eggs, Block Munchers and many more over the past month.
Blue-Chip Digital Collectibles
Ethereum has established various collections such as Bored Ape Yacht Club (BAYC), Cryptopunks , Azuki , Moon Birds , Doodles , Mutant Ape Yacht Club (MAYC) and others that have become known as “blue-chip” NFTs due to their consistent value in the open market over several years. For instance BAYC and Cryptopunks hold some of the highest floor values among all the collections. Furthermore recent trades indicate a high demand for specific editions such as when someone traded Cryptopunk #4155 for Ordinal Punk 16 .
Ordinals Collections
Newly minted ordinals inscription collections are similar to ideas stemming from popular Ethereum collections such as the 100 limited edition pixelated punk characters of Ordinal Punks in contrast to 10 000 Cryptopunks available . Other punk character related editions include Punks on Bitcoin , Satoshi Punks , DOS Punk 256 and Yeti Bit Club . Additionally there are numerous dedicated Pepe The Frog editions including Inscribed Pepes and Immortal Pepes . Other well known collections include but not limited to : Ordinal Rocks , Block Munchers , Ordinal Penguins , Bitcoin Toadz , XC Pinata ,Ordial Eggs , Planetary Oridnals Ordial Smokes and Based Apes .
Monetizing Artworks with Blockchain Technology
Creators are turning towards blockchain technology as it provides an effective way to monetize their artworks by establishing digital collectible assets that can be bought or sold without an intermediary service provider between two parties allowing them to trade directly with one another while also ensuring secure transactions through cryptography encryption protocols.
Conclusion
The trend of using blockchain technology to create digital collectibles is still young but it shows great potential in terms of providing creators with new ways to monetize their artworks while also providing investors with unique assets that have proven value over time.
