NFTs, Ethscriptions, Inscriptions
The ETH-based NFTs that influencers still aren’t talking about.
A while back (June-ish), I wrote some introductory articles about Ethscriptions (here, for example), which are the ETH equivalent of Bitcoin Ordinals (aka Ordinals, Inscriptions, Ordinal Inscriptions, etc.). There are a few particularly interesting observations I’d like to make about all of this:
- BTC Ordinals have remained wildly popular, with somewhere around 40 million of them having been “inscribed” to date. Ordinals are home to many collections, including one from Yuga (called Twelve Fold, which currently has a floor price of 0.8 BTC (about $31,007 USD or 14.79 ETH).
- Early BTC Ordinals (meaning, those in the sub-10k range —i.e., the first 10k ordinals to be inscribed) have remained desirable and valuable. A quick look on Magic Eden’s “sub 10k” page shows that the floor price for any ordinal in this range is 0.056 BTC, which currently is about $2,177 USD (1.03 ETH)!
- Ethereum, on the other hand, remains arguably the top chain for NFTs. It’s the home of all of the OG generative sets as well as much of the world’s more famous 1/1 artists.
- And yet … ever since ETH inscriptions (aka “Ethscriptions”) came out, there has been little fanfare among the NFT space’s top influencers. But why??? Well, I have my own theories about that, which take into account a numerous quirks of the NFT marketing machine, run by the space’s top influencers. Quite honestly, my mind on this looks like one of those conspiracy theory memes with the crazy dude calculating things:
- And yet… Ethscriptions have marched on in their own quiet way. There are now I think 2.7 million of them in existence. The top collection in the space right now are the MFPURRS, with a floor of just 0.095 ETH at the moment (about $200 USD). I’m a huge fan of the Mfpurrs, btw, and even own one of the grails in that collection. Here it is: