CryptoPunk 8611 has become the first CryptoPunk NFT to migrate from Ethereum to the Bitcoin blockchain.
A cryptocurrency address, 0xBc…0a71, bought Cryptopunk 8611 on June 18. The purchase cost the buyer 54.49 ETH. Surprisingly, the buyer sent the cryptopunk to the burning address 0x00…dEaD before having it reborn through a migration to the Bitcoin blockchain. The CryptoPunk now has the inscription 12,456,749, making it the first ever CryptoPunk to be migrated to the BTC blockchain.
Bitcoin NFTs, known as ordinals, are becoming increasingly popular. “Bitcoin ordinals” is actually a term used specifically in the context of Counterparty, a protocol that uses the Bitcoin blockchain to create and trade non-fungible tokens (NFTs).
In Counterparty, “ordinals” are essentially unique numerical identifiers that are used to distinguish between different types of NFTs. When a new NFT is created on the Counterparty protocol, it is assigned a unique ordinal number that serves as its identifier on the blockchain.
For example, if you create a new NFT on Counterparty, it might be assigned the ordinal number 12345. This number would then be used to track and identify the NFT on the blockchain, as well as to ensure that it is not confused with any other NFTs that might have similar properties or characteristics.