An iconic Ordinal was donated to the team that started the upstart protocol.
Announced today, Bitcoin Magazine is donating one of its 23 ‘Historic Covers,’ a unique one-of-a-kind Ordinal representing the original run of our print magazine, to the Open Ordinals Institute, a new non -profit dedicated to promoting open-source development. Ordinal protocol.
Launching at the beginning of August, OOI is a registered 501(c)3 non-profit organization that plans to accept donations, including those in Ordinals, for the development team.
This means that, a few months after its debut, the ‘Historic Ordinal #3’ is officially off the market.
“We are proud that this precious collectible can give back to the team that helped usher in a new era of building the Bitcoin blockchain,” said Namcios, Bitcoin Magazine Editor and project lead of his Ordinals OTC desk, Rare BTC.
To date, Bitcoin Magazine’s Historical Covers have seen over 4.3 BTC in total, with our ‘Historic Cover #1’ selling for 1.25 BTC, worth over $30,000 at the time of the sale.
Since its launch in January, the Ordinals protocol has caused no shortage of discussion in the Bitcoin community for its many debated design trade-offs, particularly its ability to enable any arbitrary data to be stored in a block of bitcoin and secured by the Bitcoin blockchain. .
Already, more than 20 million ordinals have been created using the protocol, a feat detractors say has inflated the blockchain.
“We are honored to receive one of the Bitcoin Magazine Historic Covers, a tangible piece of Bitcoin history,” said Erin Redwing, President of the Open Ordinals Institute. “As one of the first and most popular collections launched in the Ordinals protocol, it will stand the test of time. And how fitting that it is a cover of the first Bitcoin ape!”
Bitcoin Magazine ‘Historic Covers’ are now sold on popular secondary Ordinals markets, including Gamma and MagicEden.