The Pulse

OnChain Monkey: The first 10K NFT Collection Inscribed on Bitcoin

OCM has gained a dedicated cult following since its release in 2021, and they just added another historic moment for the OnChain Monkey community. The holders of these NFTs were pleasantly surprised as they saw the value skyrocket following the team creating Bitcoin duplicates with Ordinals.

Historic BTC-based NFTs

The excitement surrounding NFTs based on Bitcoin continues to escalate with each passing day, as the newly introduced Ordinals protocol witnesses record-breaking mints and high-value sales. One particular Ethereum NFT collection, OnChain Monkey, has gained significantly from its multi-chain approach, with prices soaring after unveiling its Bitcoin-based counterparts.

OnChain Monkey, a set of 10,000 Ethereum NFT profile pictures minted in 2021, utilized Ordinals to transfer all its existing artwork to the Bitcoin blockchain. This means that the NFT holders on Ethereum can now also boast that their collectibles exist on the Bitcoin network.

Significance of this transfer

OnChain Monkey was originally created on the Ethereum network in September 2021 in a single transaction. With the help of Ordinals, it was inscribed on the Bitcoin network as the ordinal 20219 in one go.

The coincidence of this number matching the original mint date has added an extra layer of significance to the transfer of the NFTs to the Bitcoin blockchain.

Twitter user @NFTbark shared a tweet highlighting that the OnChain Monkey NFTs are now visible on the BTC blockchain.

The floor is lava

Prices for these genesis NFTs have almost tripled since the announcement, with the cheapest listed NFT jumping from 0.79 ETH at the start of the dayto a peak of 1.98 ETH (over $3,000+) as of this writing.

CryptoSlam data shows that the move has resulted in a surge of over 12,000% in NFT trading volume for Ethereum in the past 24 hours compared to the previous time frame. The analytics platform recorded approximately $1.15 million in sales over the past day for a project with lifetime secondary sales of almost $40 million.

Now visible on the BTC blockchain

Metagood, the company behind the OnChain Monkey NFT collection, announced that it transferred all 10,000 NFTs to the Bitcoin network through the Ordinals protocol in a single transaction, just as it did for the initial Ethereum collection in 2021. This action not only showcases the magnitude of the transfer, but also the efficiency and streamlined process of onchain NFTs used by the creators.

During a Twitter Spaces session, Metagood co-founder Danny Yang stated that enabling trading was the next objective for the team, but pointed out the need for additional tools to be developed around Ordinals to facilitate this capability. He further mentioned that Metagood intends to construct a bridge between Ethereum and Bitcoin, allowing NFT holders to move freely between the two versions.

Co-Founder & COO Amanda Terry confirmed, “Buy a Genesis = own a BTC Ordinal”

Community of monkeys

The OnChain Monkey project’s Discord server is a lively community where members interact and support each other. The server has recently experienced an increase in enthusiastic new users who have acquired Ethereum NFTs after the announcement of the Bitcoin integration and are looking for information on how it will work. 

If you have any questions, the welcoming atmosphere of their Discord provides an excellent opportunity to get the answers you need.

Metagood, the parent company of OnChain Monkey, is committed to using Web3 initiatives to support communities and fund various programs. With its co-founders, venture capitalist Bill Tai, Terry and Yang, the company raised $5 million in December to drive these initiatives forward. Some of the projects that Metagood has supported include coral restoration and providing aid to Ukraine in light of the Russian invasion.

A wealthy digital nation in Web3

OCM is striving to create a “wealthy digital nation in Web3” where owning an OCM NFT serves as the passport. The team recently announced the addition of a “Banana” earning multiplier to their off-chain currency, the Monkeyverse, further solidifying their commitment to building a thriving community.

To stay updated on the latest developments, follow their official OnChain Monkey Twitter page.

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Wordsmith and marketing maestro, exploring the world with speed and curiosity.

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