- The price of Ethereum NFT is increasing continuously.
- There have been recorded 10K collections of On-Chain Monkey through Ordinals.
- To enable trading, more tools would need to be developed around Ordinals.
With record-breaking mints on Thursday and significant purchases over the previous day, the craze around bitcoin-based NFTs is expanding. With the disclosure of bitcoin-based competitors, the price of Ethereum NFT is increasing due to the switch to multiple chains using Ordinals and On-Chain Monkey. 10,000 Ethereum NFT profile photos (PEPs) issued in 2021 “inscribed” all of its bitcoin.
Since the announcement, the floor price of Ethereum NFTs has increased almost significantly, between 0.79 ETH and 1.75 ETH. To allow owners to receive Ethereum OCM Genesis on September 11, 2021, On-Chain Monkey will be the first 10K collection recorded on Bitcoin through Ordinals.
OnChainMonkey is the first 10K collection to be inscribed on Bitcoin via Ordinals!— OnChainMonkey (@OnChainMonkey) February 9, 2023
Own an ETH OCM Genesis = Owning a BTC OCM Genesis
All on-chain on Bitcoin on Feb 8, 2023, and all on-chain on Ethereum on Sept 11, 2021! 🔥
According to CryptoSlam, the Ethereum project’s NFT trade volume has increased by 12,200% over the last day, with sales of $1.1 million. Using the Ordinals protocol, Metagood added 10,000 NFTs to Bitcoin, just like it did in 2021 for the initial Ethereum collection.
OnChain Monkey is an effort by Metagood to utilize Web3 to support community-beneficial projects like coral restoration and help for Ukraine. Venture capitalists Bill Tai, Terry, and Yang co-founded Metagood, and in December, the company received $5 million.
In a Twitter Space today, Danny Yang, a co-founder of Metagood, stated that permitting trading was the team’s next move but that more tools needed to be developed around Ordinals to provide that functionality. He also mentioned that Metagood intended to create a bridge between Bitcoin and Ethereum so that NFT holders could swap between the two cryptocurrencies.