Runestone (RUNESTONE) is an intriguing NFT collection that merges the world of Bitcoin with digital art. Let’s explore the details:
1. Background:
Ordinals Protocol: Runestone is closely tied to the Ordinals Protocol, which initially introduced NFT-like “inscriptions” on the Bitcoin network. These inscriptions allowed trading digital art and collectibles directly on the Bitcoin blockchain.
Fungible Tokens: Unlike the non-fungible inscriptions of Ordinals, Runestone focuses on creating fungible tokens within Bitcoin’s Unspent Transaction Output (UTXO) model.
2. Key Aspects of Runestone:
Definition: Runestone is an open-source, transparent, volunteer, and decentralized initiative.
Rewarding Participants: It aims to reward people who participated in the first year of the Ordinals Protocol.
NFT Collection: Runestone operates as an NFT collection, offering a unique experience to Bitcoin users.
Market Stats:
Price Floor: The current price floor for Runestone is approximately $5,047.46.
Sales Volume: Over the last 24 hours, there have been sales totaling 6.03 BTC.
Total NFTs Minted: A total of 112,400 NFTs exist in the Runestone collection.
Unique Owners: These NFTs are held by 76,608 unique owners.
Market Cap: The total market cap of Runestone stands at $567,334,273.
3. Where to Buy and Sell:
You can trade Runestone (RUNESTONE) on MagicEden, OKX.
4. Historical Significance:
Runestones draw inspiration from their ancient counterparts—raised stones with runic inscriptions.
While most runestones were erected in Scandinavia, Runestone NFTs bring this tradition into the digital realm. Their vibrant colors have faded over time, but their historical value remains.
In summary, Runestone innovates by creating fungible tokens on the Bitcoin network, rewarding early supporters, and bridging the gap between art and technology. 🚀🔮