The Bitcoin digital collectible community is expanding as multiple marketplaces emerge, including Gamma.io, which recently built its presence by supporting NFT creation and auctions on Stacks, Bitcoin’s smart contract layer.
Now, Gamma.io also supports Ordinals auctions, resembling Ethereum NFT marketplace OpenSea, and enables peer-to-peer trading of inscribed satoshis (the smallest denomination of Bitcoin). Last month, Gamma introduced a “no-code” Ordinals creation tool, which has already helped produce over 30,000 inscriptions, making up nearly 10 percent of all Ordinals on the network.
Ordinals were developed by Casey Rodarmor to make Bitcoin more engaging. The 2021 Taproot upgrade allowed him to store text, images, SVGs, and HTML individually on the Bitcoin blockchain using a numbering scheme for satoshis. This method made individual satoshis non-fungible and uniquely identifiable.
Muneeb Ali, the co-founder of Stacks, expressed enthusiasm for the development, stating that Ordinals reignited interest in Bitcoin’s builder culture. Nick Sainato, Gamma’s co-founder, also shared this sentiment, asserting that Bitcoin is the logical choice for creators to use for various purposes, from art to historical artifacts.
Gamma’s Ordinals marketplace is not the first of its kind, as ORDX, Ordswap, and scarce.city have already launched in the space. These marketplaces share similar functionality, enabling users to buy and sell inscriptions, while Ordswap also serves as an Ordinals wallet.