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Bid Frenzy for Elite Runestone Inscription Among Bitcoin Fans

The Ordinals marketplace Ord City is hosting an extraordinary event for Bitcoin fans — the auction of the “largest Ordinal inscription ever”, Runestone #63140674, ending today at 5 pm (GMT).

Excitement is palpable as bids have surged to $108,252.64 (1.6 BTC). Currently at the forefront of this auction is an individual using the pseudonym name ‘Jika’ on X, who currently holds the leading bid.

Far from being your everyday digital illustration, Runestones boast a notable place in history thanks to its impressive file size of 3,967,899 bytes (or 3.967 MB) coupled with its landmark inclusion in Bitcoin block 832,947.

The block itself comprises 3,991,547 bytes (3.991 MB) and has thus earned acclaim as a technical phenomenon and a digital masterpiece.

runestone bitcoin inscription
Source: Ord City

Léo Caillard’s Journey from Marble to Bitcoin

Runestones are by Paris-based sculptor Léo Caillard, who merges historical and contemporary art since 2013. His ‘Hipsters in Bronze’ series, showing classic figures in modern attire, is popular in private collections and exhibitions.

In March 2018, at ‘Classical Now’, Caillard displayed a unique public artwork alongside Marc Quinn and Damien Hirst, notably decorating two large sculptures at King’s College’s North entrance.

The artist’s work, evolving and drawing comparisons to Damien Hirst, Jeff Koons, and Olafur Eliasson, underscores his increasing significance in the art world.

Caillard’s foray from tangible marble artistry into the realm of sculpting within a Bitcoin block now signifies a bold transition.

runestone bitcoin inscription
Source: HOFA Gallery

A Strategic and Innovative Art Auction 

Proceeds from the Runestone #63140674 auction will fund network fees for upcoming Runestone and Rune token airdrops post-halving. Airdrop date to be announced.

In a display of commitment to equity and rewarding the community, the campaign organizers have expressly conveyed that no team reserves or early sales exist. 

Participants must deposit 10% of their bid as collateral for the auction. The auction features ‘Satoshi Mode’, enabling unlimited bids with a one-time 1 BTC collateral.

It also has ‘Hot Zone Rules’, extending the auction if bids are placed in the final five minutes, ensuring fair competition.

The highest bidder must settle promptly within four hours after the auction, and refunds are processed for others post-event.

Notably, Bitcoin exclusively supports Various Bitcoin wallets, from Ordinal Client to UniSat extension. Assistance is provided for users new to the Lightning Network.

As the Runestone auction nears its end, anticipation builds for the forthcoming airdrop, marking a pivotal moment in digital art and blockchain innovation.

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

leah nft plazas

Digital art fanatic who brings a unique perspective to NFT news.

The post Bid Frenzy for Elite Runestone Inscription Among Bitcoin Fans appeared first on NFT Plazas.

Read the original article on nftplazas.com
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