- The Ord.io project will cease operations on June 1, as its creators announced that they have run out of funds.
- The service’s closure came as activity with ordinals on the Bitcoin blockchain has significantly decreased compared to previous peaks.
Service BitcoinOrd.io and its associated app, Zap, will be shutting down on June 1st. Ord.io creator Leonidas King cited financial difficulties as the reason for the closure. Co-founder Zach Meyer confirmed the project’s closure on social media.
We finally ran out of money and saw no future, wrote King.
Ord.io launched in 2023 as a Bitcoin inscription explorer with community features like “likes.” It later expanded to include tools like “Attributes” for rare coins. satoshi and Block Vision for tracking ordinals’ releases in real time. According to King, over a million people have used the platform. He also wouldn’t be opposed to another organization assuming control of the platform and maintaining its operations.
To save a part Bitcoin-culture formed with the help of Ord.io, we will upload the full history of votes, replies, and public address profiles to GitHub. This way, if anyone wants to create their own ordinal explorer with this context in the future, they will be able to do so. wrote King.
Ordinals is a protocol that allows arbitrary data, such as images, text, or code, to be written to individual satoshi, the smallest units of BTC. This allowed users to create an ecosystem NFT directly on the Bitcoin blockchain, which generated enormous interest.
According to According to At its peak in 2023, Dune generated millions of dollars in daily revenue from ordinal inscriptions. Since then, activity has declined significantly.
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