OKX has increased the range of digital assets it offers by incorporating other inscription token standards, such as Dogecoin Ordinals, into its wallet and marketplace.
The first step in the integration process is to observe and transfer various inscription standards using the Bitcoin token standard, SRC-20 (Stamps). OKX Wallet intends to support Runes, DRC-20 (Doginals), and ARC-20 (Atomicals) by the end of February.
Simultaneously, these standards will be included in the OKX Marketplace, allowing fee-free DRC-20, ARC-20, and Runes inscription purchases and sales.
This development is part of a larger trend where new token standards, like PRC-20 on Polygon PoS, Ethscriptions on Ethereum (ETH), and Solana Inscriptions on Solana (SOL), are called uniquely on different blockchain platforms.
In the NFT community, opinions on Bitcoin inscriptions have been divided despite their notable rise in popularity. While some regard these as priceless digital artifacts, others decry them as “network spam.”
Jason Lau, Chief Innovation Officer of OKX, emphasized how inscriptions are being adopted quickly, especially by Asian users. Because of the increased demand, OKX developed their web3 self-custodial wallet, which enables users to buy, sell, and maintain inscriptions.
Lau claims that the platform saw a surge in users from hundreds to over 100,000, indicating the expanding interest in the market. OKX is a prominent participant in the cryptocurrency trading industry and offers a web3 wallet.
Lau stated that the goal of becoming a leader in developing web3 access tools for users is the reason for extending additional UTXO chains. OKX Wallet supports inscription minting on 23 networks, including Ethereum, Dogecoin, Bitcoin, and many more. Lau clarified that the timing of this endeavor corresponds with the introduction and growing popularity of these protocols.
