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[Delio] Not so Ordinal-ry: Ordinal NFTs push Bitcoin network activity to an all-time high | The ultimate guide to the new Bitcoin NFTs

How are Bitcoin NFTs inscriptions impacting Bitcoin?

What are Ordinals?

Every Bitcoin is divided into 100,000,000 satoshis (or sats), the lowest Bitcoin denomination. The new Ordinals protocol allows Bitcoin node administrators to inscribe each sat with data, resulting in an Ordinal.

Bitcoin units of measure

Ordinals and traditional NFTs: what’s the difference?

Ordinals differ from prior efforts in that digital assets are immediately written onto satoshis without a sidechain or token. Ordinals do not rely on off-chain data like NFTs on Ethereum do. As a result, they are a technological advancement over standard NFTs, which can have issues with modifying NFT information.

  • Bitcoin Ordinals are fully decentralized.
  • They develop NFTs that do not require off-chain data, allowing them to be “complete” on-chain.

Bitcoin average block size hits all-time high

Ordinals, first released last month, are the most recent effort to integrate NFTs into the Bitcoin ecosystem. With the Rare Pepes collection in 2014, Counterparty was the first project to bring NFTs to Bitcoin, followed by Stacks in 2017.

Source: Dune

The new revolutionary NFT concept in the digital asset market?

Binance Ordinal NFTs is a revolutionary concept for several reasons.

Ordinal Punks

The most notable Ordinals inscriptions with over $100K floor price

Within 24 hours of the release, Bitcoin fans minted 10,000 Punks. The Binance Ordinal Punks are inspired by the original CryptoPunks, which were one of the first NFTs to gain popularity in the crypto community back in 2018.

Ordinal Punks
Punk 94

Bottom line

The launch of Binance Ordinal Punks is a significant milestone in the world of crypto art. These unique and valuable NFTs represent the future of art ownership and trading. As the world becomes more digital, the demand for NFTs will continue to grow, making them an important part of the cryptocurrency ecosystem. If you’re interested in owning a piece of digital art history, Binance Ordinal Punks might just be the perfect NFT for you.

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Delio is a certified crypto bank for digital asset management. Established in 2018, the company has acquired business licenses: Money Services Business (MSB) license in the US, and Virtual Asset Service Provider (VASP) license in Korea.

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Delio Digital Asset Finance Group, established in 2018, is №1 fintech company based in Seoul and acquired digital asset licenses from Korean and US governments.