How to Inscribe an Ordinal NFT

Over the past few months, Ordinal non-fungible tokens (NFTs) have exploded in popularity. Hundreds of thousands have been created and the ORDI token has increased in price. Since the idea of combining NFTs and the Bitcoin chain is relatively new, it can be difficult to navigate and understand. To help with this, here’s a guide that goes over everything you need to know about inscribing Ordinal NFTs. 

This article describes how to inscribe the NFTs before looking at some of the benefits of ownership. 

How to Inscribe Ordinal NFTs

Because Ordinals are so new and are on the Bitcoin chain, the process to inscribe an Ordinal NFT is unlike traditional NFTs and can be difficult to navigate. Here’s how to do it in five easy-to-follow steps. 

Get a Bitcoin Wallet

The first step in getting your first Ordinal NFT is to get a Bitcoin wallet. A wallet allows you to have full discretion over your tokens. The top Bitcoin wallets are Hiro Wallet and Xverse. Once you make an account on these wallets, you receive a wallet address. The address is a string of letters and numbers that begins with “bc1.” 

Once you have a wallet, you can load it with Bitcoin. To do so, you will have to buy tokens from a centralized exchange and send them to the wallet. Benzinga recommends Coinbase, Webull and Kraken for this process. You will first have to create an account on the trading platform and then you can fund it using your bank account. Once the account is funded you can search for Bitcoin and buy it using the funds from your bank. 

Once you have Bitcoin in your portfolio, you can send it to your Bitcoin wallet using the wallet address. This feature can be found in your Bitcoin position in your portfolio. 

Head to Gamma.io

Gamma.io is the site that allows you to inscribe Ordinal NFTs. Head to gamma.io/ordinals. On the site, you will have three options. The first is to create a collection, which is a set of artwork that people can pay to inscribe. The next option Is to sell prints. However, this option requires you to apply for the gamma partner program. You can also create your own inscription. Select this option if you want to inscribe your own Ordinal NFT. 

Once you have selected that option, you can connect your wallet in the upper right-hand corner.

Upload the File

Once you have connected your wallet, you can select one of three options to inscribe: single image, bulk image and text. You will likely have to select the single image option. If you don’t have your own Bitcoin miner, the maximum file size is 400KB. However, gamma.io has features that optimize file uploads to be below the maximum requirement. 

Enter Your Wallet Address

Once you have uploaded the file, you will need to select the address where the Ordinal NFT will be sent. To do so, select “receive.” You can then find your wallet address in your wallet. Again, it should begin with “bc1.” Once you have found the wallet address, you can paste it into the receipt box. You can also paste the wall address into the refund box, which will allow you to have your fee refunded if the transaction does not go through.

Pay the Fee

To complete the transaction, you pay a fee in Bitcoin. This fee covers the cost of creating the Ordinal NFT and sending it to your wallet. The actual fee can vary; it typically ranges between $20 and $30.

Once you have paid the fee, it usually takes around 10 minutes for the Ordinal NFT to appear in your wallet. After 10 minutes you should be able to see the Ordinal NFT in your wallet. 

Why Inscribe Ordinal NFTs?

Why would you want to inscribe an Ordinal NFT?

Exclusivity: One of the reasons someone would want to inscribe an Ordinal NFT is that they can be the only person to hold that specific inscription. Even if someone were to copy the exact image, the timestamp and inscription number are always connected to the Ordina NFTl. The first person to create a unique inscription will be known as the first person to create that inscription. 

Community engagement: Ordinal NFT holders have built a strong community. On the website, viewers can view the top collections, rare inscriptions and most recent inscriptions. It also has a Discord where members of the community can connect and share their inscriptions. By owning an Ordinal NFT, you gain access to a tight-knit and growing community.

Personalization: Because you can upload any image for your Ordinal NFT, you have the opportunity to personalize and add your own touch to the inscription. 

Benefits of Ordinal NFTs

There are several benefits of buying or minting Ordinal NFTs. 

Price appreciation:  Some Ordinal NFTs trade on the secondary market on NFT marketplaces, such as Magic Eden. If you can buy and sell at the right time, then you may be able to make some capital gains on them.

Ownership: Each Ordinal NFT is stored on the blockchain. It cannot be changed, and you own it as long as you own the token. This is particularly interesting from a security and proof of ownership standpoint.

New use cases: Since Bitcoin is the largest blockchain in crypto, many are hoping that Ordinals can lead to many new use cases for Bitcoin. One example is that transactions can include more data and more use cases in a functional setting.

Compare NFT Marketplaces

If you are interested in learning more about NFTs and where to buy them, Benzinga has a large collection of insights and reviews for the top NFT marketplaces. Please check out the links below if you are interested in learning more. 

Frequently Asked Questions