BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home MEDIA

Onchain Monkey Sells for $100,000; Biggest Bitcoin Ordinals Sales

by BlockNews Team
September 15, 2023
in MEDIA, NFT, SOCIAL
Reading Time: 3 mins read
A A
2
SHARES
41
VIEWS
Share on XShare in TelegramShare on Reddit
  • The OnChainMonkey Ordinals project recently completed a significant sale of artwork from the OCM Dimensions collection.
  • The sale highlighted the unique attributes of Bitcoin Ordinals, which are digital collectibles stored directly on the Bitcoin blockchain, offering enhanced security compared to traditional crypto NFTs.
  • Despite some skepticism, the sale suggests that Bitcoin Ordinals are gaining massive traction, showcasing their potential to challenge the broader NFT market.

The OnChainMonkey Ordinals project, which just completed a $1 million migration to the Bitcoin network, has accomplished one of its most significant sales to date.

The artwork, announced on Wednesday as part of the OCM Dimensions collection unveiled in June, attempted to showcase the unique characteristics of Bitcoin Ordinals when contrasted to less secure crypto NFTs.

For example, the 300 OCM Dimensions Ordinals were minted on 300 consecutive satoshis using the numbering method provided by the Ordinals protocol. Furthermore, the first 300 Ordinals were written on satoshis mined in Block 78, one of the oldest Bitcoin blocks, to see the value it unlocked trade on the open market.

According to social media posts, the buyer was identified as crypto venture entrepreneur Jason Fang.

Aside from the sales data, the sale of the Ordinal demonstrates the growing popularity of Bitcoin Ordinals, a distinct sort of digital collectible that has gained acceptance as an alternative to typical crypto NFTs (non-fungible tokens).

Unlike NFTs, Bitcoin ordinals are recorded on Bitcoin’s original blockchain and are frequently regarded as more secure owing to the fact that Bitcoin nodes store them directly.

Detractors dismiss the OCM project as a waste of Bitcoin’s scarce block space, claiming that it demonstrates that Ordinals projects can be responsible consumers of this resource, citing its use of the recursion approach, which helps reduce the data necessary to store even programmed art. (Because of the way the Bitcoin Ordinals project operates, all Ordinals are stored by all Bitcoin nodes).

As a result, public figures within the Ordinals space, such as Leonidas, have weighed in on the transaction, writing on X: “Ordinals are dead. Ordinaries, long live.”

Leonidas’ statement reflects the belief that Bitcoin Ordinals have died off as a result of dropping sales data following the big increase in minting earlier this year.

Nonetheless, the sale shows that the Ordinals market can still challenge the larger NFT industry. While crypto NFTs continue to be popular, ordinals are emerging as a viable option because they are directly linked to the most secure blockchain network in existence.

Tags: Bitcoin OrdinalsOnChain Monkey
Tweet1ShareShare
Previous Post

Thailand’s KBank Starts $100M Fund To Support AI and Web3 Startups

Next Post

Blockchain Security Firm Certik Security Firm Warns Of Telegram Bot Token Risks As Wallet Goes Live

DON'T MISS THESE! HOT OFF THE PRESS

Bitcoin Bull and Twitter Co-Founder Jack Dorsey Spends Weekend Building “Bitchat” – A Mesh-Based Messaging App
CRYPTO

Bitcoin Bull and Twitter Co-Founder Jack Dorsey Spends Weekend Building “Bitchat” – A Mesh-Based Messaging App

July 8, 2025
Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling
CRYPTO

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

July 1, 2025
Coinbase Smashes Through All-Time Highs: Here is What This Means for Your Bags
CRYPTO

Coinbase Smashes Through All-Time Highs: Here is What This Means for Your Bags

June 26, 2025
Yuga Labs Sells Off Moonbirds IP to Double Down on Bored Apes and Otherside — Bullish Signal for BAYC?
CRYPTO

Yuga Labs Sells Off Moonbirds IP to Double Down on Bored Apes and Otherside — Bullish Signal for BAYC?

May 30, 2025
Solana Co-Founder’s Data Leaked in Failed Extortion Stunt
CRYPTO

Solana Co-Founder’s Data Leaked in Failed Extortion Stunt

May 28, 2025
FIFA Teams Up With Avalanche To Launch Its Own Blockchain—Here’s What It Means
CRYPTO

FIFA Teams Up With Avalanche To Launch Its Own Blockchain—Here’s What It Means

May 24, 2025
Load More

Related News

Litecoin Jumps 10%—Can a $100M Bet From a Biotech Company Kick Off a Bigger Rally?

Litecoin Jumps 10%—Can a $100M Bet From a Biotech Company Kick Off a Bigger Rally?

July 18, 2025
Here’s Why Dogecoin’s Jumping Again Today

Here’s Why Dogecoin’s Jumping Again Today

July 18, 2025
PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

July 18, 2025
Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

July 18, 2025
President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

July 18, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve Finance FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Web3 X xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.