I still need to fully understand why they would do that unless they are testing something and it's of the same person. Of course, that 2 ETH would just have reduced fees but still, to have some kind of transaction volume on the Ordinal itself is okay. I'm not sure how they would have that in effect at the market. Would they see it as valuable or not?
The sale was the first of its kind, and most likely designed to be a marketing stunt. Hard to say if "sat hunting" or collecting will catch on as a thing.
Every 10 minutes a new "uncommon" sat is generated so I doubt that's going to mean 2 free ETH for whoever finds it first, forever, lol.
How this particular one worked was somebody bought 10 BTC from Binance that was from recently-mined blocks and then located an "uncommon sat," isolated it, and vaulted it. Clever but you need at least $280k to stand a chance at getting one that way.
Out of curiosity have lots of questions in my mind: What's the point?
Since NFTs are limited to one holder that's until it's sold out again, do the buyer think this will be more price and higher value attached to it in the nearest future ??
Since NFTs are limited to one holder that's until it's sold out again, do the buyer think this will be more price and higher value attached to it in the nearest future ??
I guess the point is its a "fun" way to introduce collectability to individual sats. I would think "uncommon" sats that were mined in 2009-2010 would be more fun to collect, but you won't catch me shelling out big bucks for them.
The buyer was likely thinking in terms of resale value but we don't know for sure until they put it back up for sale at a higher price.
