According to Decrypt, an Ordinal Inscription from the Honey Badger collection sold for 10.4 BTC on Magic Eden, a leading NFT marketplace on the Solana blockchain. The inscription, number eight in the collection, was purchased by pseudonymous Twitter user 'OG General.' Honey Badger is a collection of 10K Ordinal Inscriptions ranging from 8 to 1029518. Magic Eden launched an Ordinals NFT marketplace in March, and added support for BRC-20 tokens in June, allowing enthusiasts to create inscriptions on the Bitcoin blockchain and meme coins.
Ordinals inscriptions are digital assets inscribed on a satoshi, the smallest denomination of a Bitcoin. The Taproot upgrade, launched on the Bitcoin network in November 2021, made it possible to inscribe media, including artwork, text, videos, and video games on satoshis. Over 46 million Ordinals inscriptions have been created on the Bitcoin blockchain since the project's launch in January. However, the popularity of Ordinals and the associated increase in network traffic and fees have led to calls for their removal. Bitcoin Core developer Luke Dashjr has criticized Ordinals inscriptions as spam on the Bitcoin network.
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