

De-fi
Ordinal Punks NFTs called out as ‘sketchy’ – Crypto News
Anonymous Twitter account TheNorwegian expressed concerns about Ordinal Punk’s NFTs, asking,[is this] the biggest NFT scam of all time?
On Feb. 9, CryptoSlate reported on the rising popularity of Ordinal Punks, covering the sale of three NFTs according to social media posts, including #94, which reportedly sold for 9.5 Bitcoins ($215,800).
The novelty of NFTs on the Bitcoin chain and the chain’s provenance seem to be driving demand for these NFTs. However, some are questioning the collection’s legitimacy.
What are the concerns with Ordinal Punks?
Given that the Bitcoin chain was not originally designed to accommodate NFT functionality, there is no infrastructure to verify information such as sales or even to accommodate sales in a click-and-buy process.
Details about Ordinal Punks are restricted to people’s accounts of what happened rather than openly accessible data derived from on-chain information.
Citing the Director of Research at PROOF Collective, who got this information from a “Google doc,” TheNorweigan said Ordinal Punks has a current price floor of 55.4 ETH ($85,500). He added that this is the ballpark figure for a blue chip NFT collection but then questioned whether Ordinal Punks are worthy of being classed as blue chip.
Supporting this point, TheNorweigan pointed out the following, which leads him to think they are “sketchy”:
- Everything is happening OTC
- There are a lot of scams
- There’s little to none transparency
- You need to run a Bitcoin node to mint
- Extreme information asymmetry
Demand for Bitcoin NFTs is going crazy
@seanbonner tweeted that Bitcoin Punks, a clone of Ethereum’s CryptoPunks, is taking off right now.
Bitcoin Punks suffer the same drawbacks as Ordinal Punks due to using the same inappropriate, undeveloped NFT infrastructure on Bitcoin.
Nevertheless, according to @seanbonner, despite the lack of smart contracts and the “square peg, round hole” approach, people are going crazy in Discord, trying to snap one up a Bitcoin Punk. He advised against falling for the FOMO due to the following:
“A. There’s no market so you have to rely on trust and scammers are everywhere B. Fomo is insane and people are asking stupid prices C. Receiving is hard, transferring is harder. Again this isn’t like eth in the way that we’re all used to,
Bonner also pointed out that Bitcoin Punks are not “official,” adding they are just a copy of cryptopunks on any chain. The same could be said for Ordinal Punks, which TheNorwegian pointed out are nearly identical to Ethereum’s MutantPunks.
,I think Bitcoin NFTs could be great for the space and bring new people into it. What I am bearish on, however, is orchestrated hypes, and influencers selling you gold-disguised rocks.,
What is happening on the Ordinal Punks Discord?
Accessing the Ordinal Punks Discordthe buy and sell activity is not as “crazy” as that described by Bonner in the Bitcoin Punks Discord, perhaps because there are just 100 of the former versus 10,000 of the latter.
However, the general channel is highly active and appears to be a place to discuss Bitcoin NFTs, not just Ordinal Punks. Upon browsing, a Google Doc on Bitcoin NFTs was discovered. It showed 43 NFT projects with Discord links and information such as supply and notes for potential buyers.
According to admin FlowStay, as of the evening of Feb. 9, 17 Ordinal Punks were still available for purchase.

Also, a review of the sales shows Ordinal Punks were changing hands for a lot less in the early days. The first sale occurred on Feb. 2, when #69 was sold for 0.07 BTC. Scrolling down into the present shows a steady price increase over time.
The sale of #94 was confirmed at 9.5 BTC and was the most expensive noted in the channel.

-
others1 week ago
David Schwartz To Step Down as Ripple CTO, Delivers Heartfelt Message to XRP Community – Crypto News
-
Technology1 week ago
Engineers are chasing ₹30 lakh offers—but not from startups – Crypto News
-
Technology1 week ago
Einride Raises $100 Million for Road Freight Technology Solutions – Crypto News
-
others1 week ago
Dogecoin Price Prediction – Chart Set-Up Highlights Perfect Buying Opportunity With Outflows Backing $0.45 – Crypto News
-
Technology1 week ago
Fed’s Goolsbee Cites Inflation Worries in Case Against Further Rate Cuts – Crypto News
-
others1 week ago
Ireland AIB Manufacturing PMI increased to 51.8 in September from previous 51.6 – Crypto News
-
Blockchain2 days ago
It’s About Trust as NYSE Owner, Polymarket Bet on Tokenization – Crypto News
-
Blockchain1 week ago
Citi Integrates Token Services Platform With Clearing Solution – Crypto News
-
Technology1 week ago
Bloomberg Analyst Says XRP ETF Approval Odds Now 100% as Expert Eyes $33 Rally – Crypto News
-
Technology1 week ago
Breaking: BNB Chain Account Hacked With Founder CZ Shown Promoting Meme Coin – Crypto News
-
Cryptocurrency1 week ago
Bitcoin’s rare September gains defy history: Data predicts a 50% Q4 rally to 170,000 dollars – Crypto News
-
Technology1 week ago
Which ChatGPT features are restricted under parental controls introduced by OpenAI? – Crypto News
-
Technology1 week ago
US SEC weighs tokenised stock trading on crypto exchanges – Crypto News
-
Blockchain1 week ago
Watch These Key Bitcoin Metrics as BTC Price Prepares for ‘Big Move’ – Crypto News
-
Cryptocurrency1 week ago
XPL, Not XRP: Why Are Whales Shoveling Ripple’s Rival? – Crypto News
-
Technology1 week ago
CAKE eyes 60% rally as PancakeSwap hits $772B trading all-time high – Crypto News
-
Technology1 week ago
Nasdaq-listed Helius Medical Technologies rebrands as Solana Company – Crypto News
-
Cryptocurrency1 week ago
Crypto Market Prediction: Shiba Inu (SHIB) Moon Landing, Dogecoin (DOGE) Trapped in $0.23, XRP: Most Important Event for $3 – Crypto News
-
Blockchain1 week ago
The Bullish Pattern That Suggests New Highs – Crypto News
-
others1 week ago
Japan Industrial Production (YoY) declined to -1.3% in August from previous -0.4% – Crypto News
-
Blockchain1 week ago
Trump Pulls Brian Quintenz Nomination for CFTC – Crypto News
-
Technology1 week ago
Breaking: BNB Chain Account Hacked With Founder CZ Shown Promoting Meme Coin – Crypto News
-
Technology1 week ago
FTT price on the edge as FTX creditors brace for $1.6B payout on Sept. 30 – Crypto News
-
Cryptocurrency1 week ago
BREAKING: BlackRock Amends Bitcoin ETF (IBIT), Ethereum ETF (ETHA) Amid New Milestone – Crypto News
-
Technology1 week ago
iQOO 15 key specifications leaked ahead of launch: Here’s what to expect – Crypto News
-
others1 week ago
Japan Tankan Large All Industry Capex climbed from previous 11.5% to 12.5% in 3Q – Crypto News
-
De-fi1 week ago
Crypto Market Slips as U.S. Government Shutdown Looms – Crypto News
-
De-fi1 week ago
Andre Cronje’s Flying Tulip Raises $200 Million Ahead of ICO – Crypto News
-
others1 week ago
EUR/GBP supported by dovish BoE tone and persistent UK fiscal headwinds – Crypto News
-
Business1 week ago
Legal Expert Breaks Down XRP’s Appeal as Ripple SWIFT Debate Heats Up – Crypto News
-
Technology1 week ago
SEC Chair Paul Atkins Says Crypto Is Top Priority At SEC CFTC Roundtable – Crypto News
-
Business1 week ago
Crypto Stakeholders Push Back as Banks Seek Yield Ban Provision in CLARITY Act – Crypto News
-
Cryptocurrency1 week ago
Horizen (ZEN) gains 12% to break above $7 – Crypto News
-
Technology1 week ago
Altcoins today: Perpetual tokens shed over $1.3B as ASTER, AVNT, and APEX tumble – Crypto News
-
De-fi1 week ago
Hyperliquid’s Hypurr NFTs Settle at $55,000 Floor Amid Ecosystem Expansion – Crypto News
-
Technology1 week ago
Google Nano Banana trend: 50 AI prompts to transform men’s selfies into retro-golden Durga Puja portraits – Crypto News
-
Metaverse1 week ago
Who is Alexandr Wang? Meta AI chief and 28-year-old billionaire urges teens to spend ‘all their time’ on this activity – Crypto News
-
Technology1 week ago
Chainlink and Swift allow banks to access blockchain through existing systems – Crypto News
-
others1 week ago
Japan Foreign Investment in Japan Stocks rose from previous ¥-1747.5B to ¥-963.3B in September 26 – Crypto News
-
Cryptocurrency1 week ago
Bitcoin Climbs Above $112K, But $125K Resistance Looms Large – Crypto News
-
Cryptocurrency1 week ago
Ethereum whales return to the market: Is ETH ready for $10K? – Crypto News
-
De-fi1 week ago
Crypto Market Edges Up as Investors Weigh Fed Moves and Government Shutdown Risks – Crypto News
-
others1 week ago
New Zealand ANZ Business Confidence fell from previous 49.7 to 49.6 in September – Crypto News
-
Blockchain1 week ago
DX Terminal Tops NFT Sales Count in September as Base Dominates Top 10 – Crypto News
-
Blockchain1 week ago
DX Terminal Tops NFT Sales Count in September as Base Dominates Top 10 – Crypto News
-
Blockchain1 week ago
Ethereum Founder Dumps Billions In These Meme Coins, Is This A Repeat Of Shiba Inu In 2021? – Crypto News
-
Technology1 week ago
Breaking: SEC Moves To Allow On-Chain Stock Trading Alongside Crypto Amid Tokenization Push – Crypto News
-
Business1 week ago
SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism – Crypto News
-
De-fi1 week ago
Bitcoin Split Over Proposed Upgrade That Could Censor Transactions – Crypto News
-
others1 week ago
Japan Tankan Non – Manufacturing Outlook registered at 28, below expectations (29) in 3Q – Crypto News