Hideo Nakamura On Tuesday, the crypto company Okx launched a new digital marketplace called Ordinals. The market can be used through their wallet program and it allows users to buy, sell and transfer virtual tokens or “inscriptions”. Even though the marketplace is still in its early stages, people can already use it to view and transfer these tokens from one person to another.
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Okx, a company that deals with cryptocurrency and Web3, recently said that the Okx Wallet now gives an easy access to the Ordinal system and BRC20 network. Over 7 million Ordinal inscriptions related to Bitcoin are in existence and there’s almost half a billion dollars worth of 18,250 BRC20 tokens exchanged – this gave crypto fans huge advantages. Besides that, Bitcoin’s Non-Fungible Token (NFT) trades, like Ordinal inscription purchases were very popular recently and it was just behind Ethereum for highest NFT sales last week.
Okx is really excited about the Ordinals trend. This means that with the Okx Wallet you can already view and transfer Ordinal inscriptions, but by this week you will be able to trade BRC20 tokens too. Later on in May, you’ll even be able to make your own Ordinal inscriptions (NFTs) and BRC20s. To top it off, Okx has promised that June will bring the ability to buy, sell, and list Ordinal inscriptions.
Jason Lau, the chief innovation officer at Okx, said that his company has always believed in the power of Bitcoin to completely change global markets and move us closer to a fully independent system. He added that they are excited about Ordinals and BRC-20 even though some people think it would raise costs. Jason believes Bitcoin could be used in ways similar to Ethereum applications.
The firm is now joining a bunch of other companies that deals with ‘Ordinals’. These include Open Ordex, Ordinals Market, Ordswap, Ordinals Wallet, Gamma, Magic Eden and Unisat. Altogether they have 59,954 different customers who have done over 123 million dollars worth of swaps using bitcoin and ethereum. Not only that but the company will also take part in an important event called ‘Bitcoin Builders’ in Miami on May 17th.
Do you have an opinion about Okx deciding to use Ordinals and BRC20 tokens? Please leave your thoughts in the comments section below!
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