Luxor Buy Ordinalhub, A Bitcoin Based NFT Trading Platform

Bitcoin mining company Luxor bought Ordinalhub. (Photo; Doc. Ordinarys)

JAKARTA - To meet the growing demand for Bitcoin-based digital collectables, Bitcoin mining service company Luxor Technologies recently purchased the Ordinalhub platform.

The platform provides tools to buy, sell, and track non-fungible token assets (NFT) issued by Bitcoin. At the time of writing, there are over 160,000 Ordinal inscriptions on the Bitcoin blockchain, and the trend shows no signs of slowing down.

Luxor, a bitcoin mining company, contributed to the increased demand for Ordinal inscriptions after mining the largest bitcoin block ever (#774,628) to print an inscription.

After the number of Ordinal inscriptions increased to 150,000, Luxor announced the acquisition of Ordinalhub, a platform that aims to provide tools to buy, sell, and track Bitcoin-based non-fungible tokens (NFT).

Luxor notes that in the early stages of Ordinal inscription, the process of buying, selling, or tracking is complicated. This Bitcoin mining service company believes there is a need for a tool that indexes collections, assists with price discovery, and provides escrow services for trading Ordinal inscriptions.

Ordinalhub aims to be a one-stop shop for the growing Ordinal inscription trend on the Bitcoin blockchain.

“We have some exciting news... You may notice a cleaner look on our site today. That's because the team at Luxor just rebuilt it over the weekend. @LuxorTechTeam has officially entered the chat and acquired @ordinalhub,” wrote the official Twitter account OrdinalHub ◉ (@ordinalhub) February 21, 2023.

So far, several collections of Ordinal inscriptions have sold for over 10 BTC, demonstrating the huge demand in the market. Accordingly, Luxor Technologies plans to provide a central hub for the Ordinal community that indexes collections, assists with price discovery, and provides escrow services for the trading of Ordinal inscriptions.

Additional information, Inscription trading is crypto trading or NFT which is based on codes engraved on the blockchain. The inscription in this case is a unique and difficult-to-fake code that allows the creation of unique and valuable tokens on the blockchain network. This inscription trading is growing rapidly in today's crypto market and is much loved by collectors and investors who are interested in digital assets that are rare and have a high value.

In a statement, Luxor Technologies' CEO, Nick Hansen, stated that Ordinal's technology provides a new and unique method for scoring NFTs on the Bitcoin blockchain, and Luxor is proud to be a major player in this growing movement. Currently, there are approximately 161,831 Ordinal inscriptions on the BTC chain and 15,899 Litecoin-based inscriptions on the LTC network, demonstrating the trend of Ordinal minting growing in popularity among Bitcoin miners.