An investor has bought a Bitcoin Ordinal called NodeMonke for 17 BTC, worth over $1 million, on the NFT marketplace Magic Eden. The latest trade will represent the first million-dollar sale recorded by the collection.
NodeMonke is a Bitcoin-based Ordinal collection. Using the Ordinal protocol created by Bitcoin developer Casey Rodarmor, the NodeMonkes feature 10,000 characters inscribed on the Bitcoin blockchain. The anonymous team behind the collection portrays each inscription as an animal, such as a monkey or duck, with varying traits (attributes). Although the collection was minted about a year ago, it garnered attention in December 2023.
NodeMonke Sells for Over $1M
The collectible sold was NodeMonke #2769 (Alien Hoodie), an inscription portraying an alien wearing a hoodie. The pixelated art has been listed on Magic Eden for several prices denominated in BTC, such as 1.5 BTC, 2.5 BTC, 30 BTC, 40 BTC, and 42 BTC. About 13 hours before its sale, it was listed for 30 BTC.
Notably, the buyer of the pixelated art has now accumulated 20 NodeMonke collectibles. It represents 0.2% of the entire 10k collection.
The latest sale is applaudable because NodeMonke’s floor price currently sits at 0.885 BTC worth approximately $57,700. Following the sale, NodeMonke ranks #1 among trending collections in the Bitcoin Ordinal market on Magic Eden.
Ordinals Benefit the Bitcoin Network
The introduction of the Ordinal protocol in January 2023 paved the way for creators to deploy digital art on the Bitcoin mainnet via inscriptions. The concept has garnered massive attention from collectors, traders, and companies alike. For example, Magic Eden expanded its terrain a year ago from its native blockchain (Solana) to include Bitcoin. Today, several collections utilizing the protocol have raked in sales from several collectors.
The Ordinal protocol has also benefited the Bitcoin network, bringing in more users to tap into the leading cryptocurrency. Although the increased blockchain usage caused congestion at some point, the Bitcoin Ordinals have contributed to pushing BTC’s price to incredible heights.
At the time of writing, BTC traded at $65,200, a 5.8% jump within the past 24 hours.
