OnChainMonkeys Heading to BTC

OnChainMonkeys Heading to BTC
In this post

OnChainMonkey is joining the Ordinals movement and making big improvements in the inscription process along the way, according to its official announcement on Twitter.

โ— 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."

๐Ÿ“Š 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. 

๐ŸŽฌ Take Action

OnChainMonkey genesis NFT holders can check their inscriptions here

๐ŸŽ Learn More

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice. AI may have assisted in the creation of this content.