On Tuesday, the crypto firm Okx announced the launch of a new Ordinals marketplace. The platform is accessible via the Okx Wallet and will enable users to mint and trade Ordinal inscriptions and BRC20 tokens. While the Ordinals marketplace is still in its early stages, users can take advantage of the ability to view and transfer Ordinal inscriptions using the multichain wallet.
Okx Embraces Ordinals and BRC20 Trend, Reveals New Ordinals Marketplace
Okx, the crypto firm, exchange, and Web3 company, has announced the Okx Wallet now provides seamless access to the groundbreaking Ordinal and BRC20 ecosystem. With over 7 million Ordinal inscriptions linked to the Bitcoin blockchain and 18,250 BRC20 tokens valued at nearly half a billion dollars, inscriptions have been a game-changer for crypto enthusiasts. What’s more, Bitcoin’s NFT sales (aka Ordinal inscription trades) are just below Ethereum’s, making it the second-largest chain in terms of NFT sales last week.
Okx is embracing the Ordinals trend with open arms. The crypto firm further detailed that it is rolling out the Okx Wallet’s features in phases. As of now, users can view and transfer Ordinal inscriptions, and later this week, they’ll be able to trade BRC20 tokens. By the end of May, the wallet will enable users to issue their own Ordinal inscriptions (NFTs) and BRC20s. And by June, Okx is promising to take things up a notch by allowing users to trade (buy, sell, and list) Ordinal inscriptions.
“Okx has always believed in the power of Bitcoin to revolutionize global markets and bring us closer to a truly decentralized system,” Jason Lau, the chief innovation officer at Okx, said. “We are embracing Ordinals and BRC-20, despite early criticisms about their impact on transaction costs, because we see the potential of Bitcoin to expand its use cases into areas previously dominated by Ethereum-based applications,” Lau added.
The firm will be joining the ranks of several other Ordinals market players, including Open Ordex, Ordinals Market, Ordswap, Ordinals Wallet, Gamma, Magic Eden, and Unisat. Together, these markets boast 59,954 unique traders and have facilitated over $123 million in Ordinal inscription swaps settled in both bitcoin and ethereum. In addition to launching the Okx Wallet marketplace for Ordinals, the firm is also set to attend the Bitcoin Builders event in Miami on May 17.
What are your thoughts on Okx’s move to embrace Ordinals and BRC20 tokens? Share your opinions about this subject in the comments section below.
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