OKX has announced the launch of Ordinals Launchpad, a platform that allows on-chain creators to launch, inscribe and trade collections directly on the Bitcoin ecosystem.
The major crypto exchange OKX is bringing Ordinals into the fold by releasing the new Ordinals Launchpad platform for creators who want to launch and inscribe directly on Bitcoin (BTC). The platform provides creators with the tools, exposure and technical support needed to make the Bitcoin inscription process as simple as possible.
According to the official notice, the Ordinals Launchpad platform can now be accessed through the web or on a mobile device. Users can launch and trade collections directly through the interface. All sales proceeds are wired directly to creator wallets through on-chain settlements.
OKX employs “SelfScribe” technology that enables collectors to inscribe instantly on-chain at the time of minting. SelfScribe removes pre-inscription requirements and guarantees creators have self-custody over their collections.
The exchange claims that creators are given “complete control” over pricing and distribution of their collections, including the option to customize minting rounds using features like allowlist and public sale options.
Ordinals Launchpad applies a 2.5% launch fee and zero trading fees for collectors trading on the marketplace. Creators can also list their collections across other major marketplace after minting on the platform.
The first collection to officially debut on Ordinals Launchpad is “Geminions” from JRNE, a Web3 jewelry brand that introduced NFC-enabled authentication on Bitcoin. OKX also noted that trading volume for Ordinals, Runes and BRC-20 collections on their platform has gone up by 50% since November, indicating an increase in market demand.
Recently, Binance confirmed in a post that it has discontinued its Ordinal assets, specifically its Inscription Market. Users can no longer buy or sell inscription assets on the exchange, but they can still view their inscription assets and move them to other wallets. The exchange has halted support for Ordinals since April this year.