Bitcoiners Burn Pricey Ethereum NFT in Symbolic Shift to Bitcoin's Ordinals Inscriptions

June 19 (Cointime) - A CryptoPunk NFT sold for around $95,000 on Saturday and was later burned in a community-led effort to symbolically shift the asset's underlying chain from Ethereum to Bitcoin. The burn was tied to an Ordinals inscription on Bitcoin that bears the same image as the CryptoPunk NFT. The decision to burn the NFT was made by holders of Bitcoin Bandits, a Western-themed collection of Ordinals inscriptions, and around 150 people contributed to the cause. The end goal is to create a series of Ordinals inscriptions that correspond to a slice of ownership in the CryptoPunk NFT, which will be sent to a digital wallet belonging to Satoshi Nakamoto, the pseudonymous creator of Bitcoin.

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