Registrations using the Ordinals protocol, which are the equivalent of non-fungible tokens (NFTs) on Bitcoin (BTC), continue to generate strong interest. Yesterday saw a record number of registrations, topping the 2.7 million mark. We take a look at a sector of the ecosystem that could see strong growth in the future.
Ordinals registrations continue to explode on Bitcoin
The number of registrations using the Ordinals protocol has skyrocketed in recent months. And with good reason: the equivalents of NFTs for the Bitcoin network can be a small revolution in themselves. The proof of this craze is a record reached yesterday: more than 300,000 registrations were made, an unprecedented number :
Registrations with Ordinals accelerate on the Bitcoin network
Today, 2.7 million registrations with Ordinals have been made, and the movement seems to be continuing to grow. It should be remembered that the protocol has only been in existence for five months, so these figures are particularly noteworthy.
Are Ordinals Bitcoin registrations here to stay?
This is the scenario that seems to be taking shape, although it is of course far too early to say. There is, however, a marked interest from several heavyweights in the sector, including the hegemonic Yuga Labs, which owns major franchises such as Bored Ape Yacht Club and CryptoPunks. Initially hostile to the idea, it recently launched a collection of Ordinals… With undeniable success: the digital art pieces were snapped up in 24 hours, selling for 16.5 million dollars.
Another sign of this transformation is the announcement last month by Magic Eden, a marketplace for non-fungible tokens, that it would henceforth take Ordinals into account in the same way as “classic” NFTs. Whether you approve or reject it, one thing seems certain: the small revolution represented by Ordinals is not leaving the ecosystem indifferent.
*** Translated with www.DeepL.com/Translator (free version) ***
