The original artist behind the 2013 Bitcoin wizard meme, Mavensbot, has successfully raised almost $150,000 in Bitcoin through the sale of Ordinal inscriptions. The sale, which was supported by Taproot Wizards and crypto advocate Udi Wertheimer, saw the artist issue and sell a collection of Ordinal inscriptions to celebrate the 10th anniversary of his artwork.
Wertheimer explained how the payments were mostly from NFT enjoyers, who downloaded a lightning wallet from the Lightning Network extension Alby and made a Bitcoin payment, all within the three hours of the limited sale. While the sale was successful, the event has drawn criticism from Bitcoin maximalists and r/bitcoin moderator Bashco.
Wertheimer said that maximalists and people like Bashco hate Ordinal inscriptions because they have decided that JPEGs are evil. Despite their criticism, the crypto advocate insists that most “Bitcoiners aren’t like this” and that it is time for Bitcoiners to embrace the spirit of the 2013 Bitcoin wizard – one of playfulness, experimentation, and innovation.
The sale of the Ordinal inscriptions is another example of how blockchain technology is being used to support artists and their creations. With more than 150,000 Ordinal inscriptions on the Bitcoin blockchain, the demand for the technology continues to grow.
The proceeds from the sale went to support the artist, and Wertheimer said that watching everything transpire made him really happy. He noted that it was great to see Bitcoin and the Lightning Network being used to support an artist and that real Bitcoiners are “builders, explorers, researchers, and quite simply enjoyers.”
The event has sparked a debate among the Bitcoin community about the use of blockchain technology to support artists and their creations. While some Bitcoin maximalists have criticized the sale of Ordinal inscriptions, others have hailed it as an innovative use of blockchain technology.
The sale has also highlighted the potential of NFTs and their role in supporting artists. NFTs have exploded in popularity in recent months, with some NFTs selling for millions of dollars. While some critics have questioned the value of NFTs, others have argued that they provide a new way for artists to monetize their creations and gain exposure.
Despite the criticism from Bitcoin maximalists and r/bitcoin moderator Bashco, the sale of the Ordinal inscriptions has been a success, and it is likely that we will see more artists using blockchain technology to support their creations in the future.