SNEAK PEEK
- Williams tweeted that he has burned Bored Ape #1626 Bitcoin Ordinal equivalent.
- The NFT community is migrating to BTC, where Ordinals have made collectibles truly scarce, according to his tweet.
- The Taproot soft fork facilitated ordinals by increasing the block size limit from 1MB to 3MB.
Jason Williams tweeted on February 12 that he had burned Bored Ape #1626 for a Bitcoin Ordinal equivalent. He announced the burn in a Tweet by stating that the NFT community is migrating to BTC, where Ordinals have brought true scarcity to collectibles.
The NFT community is moving to BTC, where Ordinals have brought true scarcity to collectibles.
— Jason A. Williams (@GoingParabolic) February 12, 2023
I forever inscribed “The Blonde Don” BAYC #1626 on the world's scarcest and most secure chain burning him off ETH forever using TeleBurn.
It's done. Over. Not coming back to ETH. pic.twitter.com/jmKpSSPybm
The move drew the ire of many within the Bored Ape community, inevitably reaching out to Yuga Labs co-founder Greg Solano, who rebutted through the use of Twitter that it’s not ‘gone from ETH forever,’ and also that it’s identical to any other transfer.
They just have effectively decided to give up the license if individuals transfer the Ape to an address they no longer sustain. Also, this does not imply that anyone can obtain a license.
Ordinals have grown in popularity as a tool for Bitcoin node operators to use when taking part in fun projects. However, they have so far only been bartered among themselves, such as through small Discord channels, with no global market, such as OpenSea, to utilize the ecosystem’s supply/demand.
Aside from the Ape burn, it does seem Yuga Labs may have a lot to be concerned about in the Ordinals space, notably since Ordinals Punks has emerged as a popular Ordinals-based collection.
Ordinals were facilitated by the Taproot soft fork, which enhanced the block size limit from 1MB to 3MB, enabling inscriptions on the Bitcoin network to be positioned.
