Latest OnChainMonkey News
OnChainMonkey (OCM) is migrating its entire digital art collection from Ethereum to Bitcoin Ordinals, incurring a hefty $1 million migration fee.
The Deets
- Migration Costs: The project paid over $1 million in Bitcoin fees for the migration.
- DAO Approval: A quorum of 2,000 votes backed the move within 24 hours.
- Ethereum Exit: The migration includes burning existing Ethereum NFTs.
- Market Timing: The decision comes amid a cool-off in the Ordinals market.
The Bulk
OnChainMonkey, founded by Metagood, announced its bold move to migrate its entire digital art collection from Ethereum to Bitcoin Ordinals.
The migration process isn't just a click of a button; it comes at a substantial cost. OnChainMonkey forked over more than $1 million in Bitcoin fees to make this move. This amount doesn't only cover the technical costs but also includes the expense for burning the existing Ethereum NFTs, rendering them non-tradable.
Backing this massive shift is the project's DAO (Decentralized Autonomous Organization), which within 24 hours gathered more than 2,000 votes in favor of the move.
Interestingly, this all comes at a time when the Ordinals market has seen a significant cool-down, which makes this transition a potential precursor for the market's next big wave. Bitcoin ranks seventh in overall blockchain trading volume over the last month according to data from CryptoSlam.
📊 By the Numbers
The DAO proposal for migration saw 2,000 votes within 24 hours, and 99% voted in favor of the move to Bitcoin.
🎤 Founder Feedback
Our OCM community has conviction in our move to Bitcoin. The OCM community, in particular, has a great understanding of the potential and benefits of migration to Bitcoin.Danny Yang, CEO of Metagood to Bitcoin Magazine
Metagood and OnChainMonkey leveraged Bitcoin Ordinals to launch OCM Dimensions yesterday, revolutionizing the NFT movement on the Bitcoin blockchain.
The Deets
- OCM Dimensions pioneered recursion, composability, and efficient block space usage on Bitcoin.
- It is one of the first parent-child collections with on-chain provenance.
- The collection achieved many industry firsts, including an on-chain reveal after minting.
- The art is high-definition, 3D, animated, and interactive, rendering directly from Bitcoin inscriptions.
The Bulk
Founded OGs of the crypto space, Metagood and the team behind OnChainMonkey have been deeply invested in Bitcoin technology, understanding the possibilites for Ordinals and NFTs. Their latest endeavor, OCM Dimensions, brings to life an art collection of unprecedented quality and innovative mechanics on the Bitcoin blockchain.
OCM Dimensions breaks the mold with high-resolution, 3D animated art that dynamically scales to any display size. This quality is achieved with a file size of under 1 kilobyte per inscription, an extraordinary accomplishment given the complexity and quality of the art.
Dimensions is notable not only for its art but also for its pioneering technical feats on Bitcoin. It utilizes parent-child provenance, generative coding, recursion, and composability to create intricate and rich art while optimizing the use of Bitcoin's block space.
The collection is a testament to the possibilities that Bitcoin Ordinals open for securing digital artifacts on the Bitcoin blockchain, hinting at a digital version of the Great Library of Alexandria. But, as with all precious resources, Bitcoin's block space is finite, pushing developers and creators to optimize its usage and create digital "skyscrapers."
📊 By the Numbers
OCM Dimensions sold out its 300 piece collection in just minutes. The first secondary sale registered at more than 1 BTC, more than $26,000.
❗Why It Matters
OCM Dimensions’ new approach to creating and presenting NFTs on Bitcoin showcases the untapped potential of Bitcoin Ordinals and may lead to more unique, boundary pushing collections on the blockchain...and not just copy paste animal derivatives.
🎤 Founder Feedback
Why are Bitcoin Ordinals a big deal? Because of all the power the protocol gives to builders.Danny Yang
For more web3 and NFT news, visit the Lucky Trader newsfeed.
OnChainMonkey tweeted the link to a Google Sheet with a list of the 300 ordinal addresses selected for the Dimensions launch.
The Deets
- About half of the 300 were announced on Twitter, but now the rest have been revealed.
- There were more than 6,000 applications, and the selectivity rate was less than 5%.
- There are an additional 2,000 OCM Dimensions exclusively reserved for OCM holders.
- Owning an OCM set (OCM Genesis + K1 + K2) puts you in Tier 2 and gives you a higher chance to mint one of the remaining 2,000 Dimensions.
🎬 Take Action
If you applied, you can check if your BTC Ordinals wallet address is in the OCM Dimensions 300 List Google Sheet.
🎤 Community Quotes
!RISE and congrats to all those selected. Super stoked to be supporting this historic event from the sidelines. Got my eyes on the post-300 though LFG.intelstrata.eth
🧠 Learn More
- OnChainMonkey Reschedules Dimensions Launch to June 15 (May 30, 2023)
- OCM DImensions Mint List Application Open Until May 24th (May 6, 2023)
- OCM Revises Tier System To Prioritize Super Set Collectors (May 2, 2023)
- Get On The List: OCM Dimensions Coming Soon (April 27, 2023)
- OCM Introduces Dimensions, a 3D Collection on Bitcoin (March 10, 2023)
OnChainMonkey announced that the upcoming OCM Dimensions launch is delayed until June 15.
The Deets
- OCM Dimensions was originally slated to launch on May 31
- The mint date has been moved to June 15
- The project cited "being so early and factors beyond our control" as reasons for the delay
❗ Why It Matters
OnChainMonkey's new high-end generative art collection on the Bitcoin blockchain is highly anticipated, with over 6,000 collectors applying (and many of them presumably funding their Bitcoin wallet with 0.08 BTC). A little over half of the 300 Mint List has been announced in recent days, with many notable names in the community among those accepted, including a mix of Ordinals enthusiasts, NFT whales, and loyal OCM holders.
🎤 Community Quotes
The OCM Dimensions mint has been delayed until June 15.
— TylerD 🧙♂️ (@Tyler_Did_It) May 30, 2023
Given what I've heard from the founding team on their recent podcast tour, I trust the move was not taken lightly and in the minters/holders best interest. pic.twitter.com/RZvfncMsdV
🎤 Founder Feedback
OCM Dimensions has some surprises for collectors and creators, especially. Looking forward to doing the full reveal!danny huuep, creator of OnChainMonkey
OnChainMonkey detailed how to improve the likelihood of getting on the !RISE List to buy one of the first 300 OCM Dimensions, a 3D generative art collection of high-end digital assets on Bitcoin that are fully inscribed on-chain.
The Details
- The application window closes on May 24th.
- Applications will be considered on a rolling basis, so applying earlier increases your chances of acceptance.
- Additionally, funding your wallet with 0.08 BTC (~$2,300 USD) ahead of time will also increase your likelihood of being selected.
❗ Why It Matters
The first 300 Dimensions are a special sub-collection that is available to an exclusive !RISE List, and the 300 will also have the lowest ID numbers in the collection (#1-300). They will have Genesis DNA and traits based on OCM Genesis #9501-9800, which are unreleased and part of Metagood’s private collection.
Where OCM holders fall on the Tier List will be a large determinant, but applying early and funding a BTC wallet will help as well.
🎬 Take Action
Visit onchainmonkey.com/ocm-dimensions to learn more, and apply and fund your Bitcoin wallet if interested.
🧠 Learn More
- Get on the List: OCM Dimensions Coming Soon (April 27, 2023)
- OCM Introduces Dimensions, a 3D Collection on Bitcoin (March 10, 2023)
- OnChainMonkeys Heading to BTC (February 9, 2023)
Ahead of the OCM Dimensions mint at the end of the month, OnChain Monkey upgraded the Tier System to prioritize Super Set collectors.
❗ Why It Matters
For OCM holders, the tier system will determine your chances of getting OCM Dimensions as well as future OCM collections. It's a welcome and deserved upgrade for Super Set holders, but it also probably won't affect all that many given the high threshold for entry to that tier.
The Details
- A Super Set = 20x OCM Sets = Any 20x Genesis + Any 20x Karma 1 + Any 20x Karma 2.
- Tier 1 is OCM's Apex membership, and this Tier also consists of Celestials and holders of a Celestial Karma or a Celestial Cake.
- Tier 1 members will be airdropped an Ethereum NFT that will be burnable for OCM Dimensions.
🧠 Learn More
- Which OCM Tier Are You? (January 12, 2023)
- OnChainMonkeys Heading to BTC (February 9, 2023)
- OCM Introduces Dimensions, a 3D Collection on Bitcoin (March 10, 2023)
- Get on the List: OCM Dimensions Coming Soon (April 27, 2023)
OnChainMonkey is ready to launch its new collection "OCM Dimensions" a high-end generative art collection on the Bitcoin blockchain.
❗Why It Matters
Inscriptions took the NFT space by storm earlier in the year and have continued to grow consistently with almost 2,000,000 ordinal inscriptions in total and almost 150K inscriptions made per day. OnChainMonkey provides another opportunity for ETH NFT holders to get their first Bitcoin Ordinal.
The Deets
- Inscribed on early 2009 Satoshis
- Fuses art, technology, and innovation
- 300 special 1/1 Genesis Dimensions available
- Launching May 31
The Details
As reported last month, OCM Dimensions is launching its high-end generative art collection on the Bitcoin blockchain. This groundbreaking collection, OCM Dimensions, is an innovative fusion of art, technology, and innovation.
The collection's debut will feature 300 special 1/1 Genesis Dimensions, which are 3D masterpieces generated from code, unreleased Genesis traits like Alien and Gold furs, and will be inscribed on early 2009 Satoshis.
Take Action
To secure a spot on the OCM Dimensions 300 Mint List, apply now by visiting the official OCM Dimensions website: https://onchainmonkey.com/ocm-dimensions.
🧠 Learn More
OnChainMonkey announced Dimensions, a new animated 3D collection on Bitcoin available exclusively to OCM holders.
❗ Why It Matters
All OCM members (including Karma) will have a chance to access the upcoming launch of Dimensions, which the project describes as "a significant leap forward in using Ordinals to inscribe high-end art on #BTC."
The chance to gain access is determined proportionally through OCM's tier system.
📊 By the Numbers
The floor for OCM Genesis hit an all-time high price of 3.1 ETH yesterday before retracing to 2.71 at the time of writing.
🔜 What’s Next?
Stay tuned to the @OnChainMonkey Twitter account and Discord for further updates on the upcoming Dimensions collection, as details are still scarce.
🎤 Community Quotes
!RISE @OnChainMonkey keeps on trucking along and keeps in delivering. Always adding value to its holders. I'm starting to wish i had more!hugo.pcc.eth
For the next month, using an OnChainMonkey Genesis or Karma as your PFP will give a multiplier on earning Banana tokens when using !RISE on Twitter. This was announced today by the OnChainMonkey Twitter account, with more details available in the Discord.
The Deets
Bananas 🍌, the currency of the OCM Monkeyverse, can be used to purchase allowlist spots to upcoming mints, OCM holder-exclusive merchandise, etc.
From Feb. 14 to Mar. 14, OCM holders can earn a multipler on Banana tokens earned from using !RISE on Twitter.
- Earn 2x bananas for Karma
- Earn 6x bananas for Genesis
- Earn 8x bananas for Celestials
❗ Why It Matters
There are quite a few new holders after the OCM team announced last week that Genesis holders would get a corresponding Ordinal on BTC, so this is a great way for them to get a head start on acquiring bananas 🍌.
In the past, bananas were also used to purchase Early Claim Tickets 🎟 for early Dessert eating and Karma claim access, and they could be relevant for the upcoming collaboration with Alexis André in Q1 2023.
🎤 Community Quotes
Well....I haven't changed my pfp in a long time but it is definitely necessary for the next 30 days! @OnChainMonkey has done it again. They have activated a 6x banana multiplier for those who change their pfp to a Genesis Monk! Time to farm 🍌's! Can I get a !RISE?Bosco
OnChainMonkey is joining the Ordinals movement and making big improvements in the inscription process along the way, according to its official announcement on Twitter.
❗ Why It Matters
Over the last few weeks, we have seen the attention shift from the open edition meta to Ordinals, inscribed "NFTs" on BTC. This afternoon, OnChainMonkey threw its hat into the ring, awarding holders of its genesis collection with a corresponding Ordinal on BTC.
The Deets
The team at OCM was able to inscribe all 10,000 OCM at a low cost and in one full transaction (similar to its creation) according to the announcement - saving on cost, energy, and most importantly, Bitcoin block space. In addition, they were also able to make it possible to see all 1.3 billion trait possibilities on the Bitcoin blockchain.
"We did it in one inscription, for only a few dollars, saved block space, were more environmentally friendly, and did not disrupt the Bitcoin network."
📊 By the Numbers
OCM initially teased the announcement in the early morning hours, sending the genesis collection skyrocketing from its price below 1 ETH to near 3 ETH at its peak. The collection has settled around 2.24 ETH at the time of writing, marking a major gain of more than 100 percent on the day.
🎬 Take Action
OnChainMonkey genesis NFT holders can check their inscriptions here.
🍎 Learn More
