Possible explanation: https://nitter.net/mononautical/status/1663383996561072129?s=46

orthwyrm

Any competent exchange uses a unique pubKey (address) per transaction or at least rotates pubKeys from a pool. Why would they use a single pubKey for 8m+ Inscriptions? 

sancristrader

Indeed. More than likely this is an inscription service 

SimpleStacker

yes. This is an inscription-on-demand service/wallet called unisat

rijndael

Isn't this similar to how an exchange would work?, as in, there's one central company that creates those and they sell them to random people?

That would explain the massive amount of BTC used for this. They probably sold them for more than that.

bitcoin

Most Bitcoin Inscriptions belong to a single person or entity

Isn't this similar to how an exchange would work?, as in, there's one central company that creates those and they sell them to random people?

That would explain the massive amount of BTC used for this. They probably sold them for more than that.