🔥🔥🔥 #Bitcoin Ordinals Project Runestone Hosts Auction Ahead of #Airdrop🪂
The Runestone, heralded as the largest ordinal inscription by block size, is currently up for auction, as noted by #NFT historian Leonidas on Wednesday. According to Leonidas, the highest bid for the Runestone inscription stands at 0.26 BTC, equivalent to around $17,261.61 on the Ord City marketplace.
Leonidas emphasized that all proceeds from this auction will be allocated to cover the Bitcoin network fees associated with the Runestone airdrop and will go directly to Bitcoin miners. He clarified that there are no team allocations or pre-sales, and the eligibility algorithm was designed to ensure fairness without favoring large stakeholders.
"The Runestone is a non-utility project, and its delegate inscriptions are collectible pieces of art intended to be cherished as badges of honor for those who supported the Ordinal protocol from the outset," Leonidas explained.
The Runestone auction is set to conclude on March 8, 2024, at noon.
The Runestone airdrop, announced in February, inscribed the Runestone ordinal on the Bitcoin blockchain this week. This project spanned 3.97 MB, filling two entire blocks on the network. Leonidas highlighted collaboration with OrdinalsBot and Marathon Digital Holdings, setting a record for Bitcoin's largest block.
While the specific date of the event remains undisclosed, the upcoming Runestone airdrop will see over 112,000 eligible Bitcoin addresses receiving a Runestone ordinal inscription. Following the halving, once the Runes protocol is operational on Bitcoin, a Runes token will be airdropped to Runestone holders in proportion to their holdings.
Leonidas cautioned about high Bitcoin network fees for the upcoming airdrop post-halving. The Runes protocol will launch on Bitcoin L1 at block 840,000, around April 20, 2024. The artistic imagery on the Runestone was contributed by Léo Caillard under a Creative Commons license, symbolizing humanity's timeless communication across generations.
Source - decrypt.co
