Since January, there have been over 10 million inscriptions on the largest blockchain in the world, and this number continues to grow exponentially.

To provide some context, the Ordinals Protocol allows for the ordered identification of satoshis, the smallest subdivision of a Bitcoin, enabling each of them to have an individual identity. From that people can inscribe sats with arbitrary content, creating Bitcoin-native digital artifacts, more commonly known as nonfungible tokens (NFTs).

Among the various narratives resulting from this technique, the existence of an extremely underground group of individuals who identify, track and trade high-value historical satoshis has come to light. They are known as “sat hunters.”

There is no denying that the Bitcoin ecosystem is undergoing a period of tremendous innovation since the advent of the Ordinals Protocol in early 2023.