The first Bitcoin Ordinals NFT collection, Bitcoin Punks, is now available on the OKX NFT marketplace.
In its first launch, which OKX announced on March 6, explains how it will allow trading of BTC NFT, which can be withdrawn to your bitcoin wallet.
The first-ever Bitcoin Ordinals NFT has just been made available on the platform of OKX NFT marketplace. 10,000 pieces are in the collection of Bitcoin Punks.
The collection is uploaded utilizing the Bitcoin Ordinals protocol from the Ethereum-native platform CryptoPunks. ERC20 or ETH can be used to buy BTC NFT, enabling open trading of the recently listed cryptocurrency.
At the time of writing, the value of Bitcoin Punks, which is currently trading at a floor price of 1.34 ETH, was $2,093. Their most recent NFT transaction cost 1.3911 ETH.
The BTC NFT is a genuine NFT that they can validate, according to OKX. Additionally, even Bitcoin miners can withdraw funds to bitcoin wallets, specifically EmblemVault.
EmblemVault enables NFT trading between blockchains. The NFT withdrawal has a drawback, though: using EmblemVault requires a minimum of 250 Coval tokens. A crypto enthusiast claimed in a tweet that the current price of Coval coins is $0.017, making it more affordable to buy them.
Bitcoin Ordinals Protocol
Blockchain platforms known as Ordinals NFTs are used by blockchain inventors to store important data such as JPEG photos, HTML, and short sentences. 10,000 of the 34,400 listed Ordinals inscriptions are Bitcoin Punks.
As a result, it can increase their worth to collectors and make them attractive investments. The Ordinals protocol, which was introduced in January 2023, has received a lot of feedback from bitcoin fans.
Although it has the potential to store data on Satoshis, there is doubt regarding the reliability of these NFTs. Regardless of how they feel about it, there are benefits to the Ordinals protocol, including the use of block space for long-term network sustainability.
