Luxor acquires OrdinalHub platform for Bitcoin-NFTs

American mining company Luxor Technologies announced the purchase of the OrdinalHub platform for issuing, selling, and tracking Bitcoin-NFTs.

Luxor has officially acquired OrdinalHub, the premiere platform building tools to buy, sell, and track Bitcoin-based NFTs: ? https://t.co/ifNpEImxs0 < ✨ ✍️press: https://t.co/2Jz1tq9beo pic.twitter.com/zkFki7fj1M

— Luxor Mining (@LuxorTechTeam) February 21, 2023

Luxor noted that after NFTs on the Ordinals protocol appeared in January 2023, they quickly gained popularity. The number of collectible assets has already surpassed 150,000 — a rise of 15,000% since the beginning of February.

However the segment remains fragmented: issuance and trading occur on numerous Discord servers. In the view of company experts, this makes it harder to track projects for creators and collectors. The lack of an escrow system hinders trading development and leads to high fees.

«OrdinalHub will solve these problems by providing the community with a central hub for discovering projects, trading NFTs, opening new emission venues, and access to educational materials. The Ordinals sector is still in its infancy. The market lacks enterprise-grade solutions for indexing collections, escrow, and price discovery», — Luxor said.

The company also noted that OrdinalHub has a Discord server featuring popular projects such as PunksonBitcoin, TaprootWizards, OrdRocks, OrdinalLoops, DeGods and BitcoinShrooms. Prices for some NFTs already exceed 10 BTC.

«Ordinals opened up exciting new monetization strategies for Bitcoin miners. There is natural synergy between Luxor’s pool and OrdinalHub, which will allow us to build critical infrastructure to spur growth», said Luxor’s CEO Nick Hansen.

Earlier in February, the analogue of the Ordinals protocol launched on the Litecoin blockchain.