The metaverse is Unbanked Newsletter For a weekly level up on the NFT and on-chain frontier
Dear unbanked nations,
A new force is reshaping Bitcoin’s NFT landscape.
project? NodeMonkes.
Over the past month, this collection of Ordinals has risen to prominence, quickly becoming Bitcoin’s flagship collection and now competing with the best NFTs from other chains.
In today’s post, I’ll quickly tell you about the flowering process of Nodes and a few things to note here!
-WMP
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NodeMonkes will be hailed as the first, with the first inscription set for February 2023. originali.e. non-derivative, published through the 10k Profile Photo (PFP) collection. ordinal number. Bitcoin Punks and OnChainMonkeys have had inscriptions before, but these collections come from existing projects.
Aesthetically, the NodeMonkes collection has a pixel art style similar to retro video game graphics, with large, blocky pixels and exaggerated, minimalist features.
Each character is an abstract monkey, some more abstract than others, so interpretation of their faces is largely left to the viewer’s imagination. Overall, the stylistic approach here is: nounis one of the most iconic collections of pixel art NFTs on Ethereum, but tailored more explicitly to the Bitcoin scene.
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NodeMonkes, which has no roadmap and was created by an anonymous duo, launched a Dutch public auction in December 2023 that fetched 0.03 BTC per NFT (~$1,260 at the time).
The recent Ordinals, BTC ETF approval, and surge in interest in Bitcoin L2, combined with the swelling Bitcoin NFT scene and months of anticipation for Mint, have given NodeMonkes incredible early momentum.
Now, they have grown into not only the largest collection of NFTs on Bitcoin, but also one of the most valuable collections in the entire NFT space. The current low price of 0.81 BTC (a 2,600% increase from the mint cost of 0.03 BTC) puts the node behind CryptoPunks and Pudgy Penguins in relation to the current low price. When it comes to market capitalization, Nodes (~$500M) is currently second only to ‘Punks’ (~$2B).
NodeMonkes’ main trading hub has been its multi-chain NFT marketplace. magic eden, 2,795 BTC (+$190M) worth of NodeMonke has been traded to date. Surprisingly, this level of volume has already placed it among the top 30 most traded NFT projects of all time, with transactions only recently increasing.
For example, over the past month, the node has been at the center of more than $86 million worth of transactions, with $11 million of those transactions taking place in the last 24 hours alone. In fact, trading around Nodes has become so frenzied that it has helped Magic Eden recently rise to the top of the leading NFT market by volume.
With NodeMonkes increasingly hailed by some as the “cryptocurrency of Bitcoin,” the collection has seen massive sales recently as large-scale NFT collectors flock to it.
For example, the first node to break the $1 million sales record was an alien. #2769, which resold for a whopping 16.6 BTC over the weekend. The sale also marked the second-largest purchase of Ordinals in the cryptocurrency economy to date. Recently, there have been purchases of over 8 BTC around Nodemonkes. #9255 (10.54BTC), #5605 (9.95 BTC), #3315 (9.17 BTC), #10 (8.83 BTC), #3361 (8.82 BTC) and #4791 (8.7BTC).
What’s the point here? Well-capitalized collectors are securing the rarest and most desirable nodes on the market. This action is combined with freshness Buy CryptoPunk 3100 4,500 ETHIt shows whales are back in action in the NFT space.
While NodeMonkes are now clearly out of most people’s price range, their rise symbolizes the surge in popularity of the Bitcoin Ordinals scene and has fueled a boom in interest in Magic Eden and others. Cheaper Bitcoin NFT Projects.
Ethereum has CryptoPunks, Solana has Mad Lads, and now Bitcoin has its flagship PFP collection at NodeMonkes. The Ordinals space is so nascent that it is possible that over time, other projects will become Bitcoin’s best. But for now and the foreseeable future, the title is firmly in Nodes’ hands. Let’s see where they go from here!
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It is not financial or tax advice. This newsletter is strictly educational and does not constitute investment advice, a solicitation to buy or sell any asset, or a solicitation to make any financial decisions. This newsletter does not constitute tax advice. Consult your accountant. Do your own research.
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