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When we think of NFTs, we think of many popular blockchains such as Ethereum and Solana. Interestingly, though, bitcoin is one of the industry’s top blockchains, yet it’s largely unheard of. But that could all be about to change as a new protocol called Ordinal has been launched on the Bitcoin mainnet that promises the dawn of Bitcoin NFTs.
BREAKING: NFT ON #bitcoin
Ordinals dominate BLOCKSPACE pic.twitter.com/Gxwq4vV8MI
Bitcoin News (@BitcoinNewsCom) January 29, 2023
This protocol is the brainchild of software engineers. Casey Rodermer Digital assets created through this protocol are called Digital Artifacts, and they are among the first instances of blockchains used for NFTs.
With the potential for all kinds of content from images to video to audio, some see this as a step in the right direction for Bitcoin and believe it will expand its use cases. Known only by its native token, it can demonstrate another side of its technology. This is the position taken by industry insiders such as Dan Held. At the same time, some believe that the use of NFTs goes against the vision of Satoshi Nakamoto, the anonymous creator of Bitcoin.
As they say, the idea of Bitcoin is to promote economic equality and access, and the often speculative nature of NFTs defeats this purpose. Since this protocol is still very new, it is possible that these discussions will progress further.
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*All investment/financial opinions expressed by NFT PLAZA are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.
Tokoni Uti has written extensively on blockchain and cryptocurrencies over the years. Her work has been featured on sites such as BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.
