HomeNFTOrdinals launches NFTs on Bitcoin, igniting those in favor and those against

Ordinals launches NFTs on Bitcoin, igniting those in favor and those against

Ordinals protocol has launched NFTs on Bitcoin’s mainnet dividing the crypto community between those who are against and polemic and those who are enthusiastic, telling how they are in favor of the project. 

Ordinals and NFTs on Bitcoin

Ordinals is a protocol created by software engineer Casey Rodarmor, who officially launched the program on Bitcoin’s mainnet on 21 January last year, which allows NFTs to be created. 

Essentially, the protocol enables Bitcoin’s version of NFTs, described as “digital artifacts” that can include JPEGs, PDFs, or video or audio formats. Rodarmor is a former Bitcoin Core contributor who designed Ordinals to enable the transfer of individual satoshi over the Bitcoin network.

Ordinals and Bitcoin NFTs: Rodarmor’s design

Thus, this involves using Bitcoin’s blockchain like that of Ethereum, Solana or Polygon, the current proof-of-stake blockchains pioneered by the NFT industry. Moreover, the Ordinals protocol would be a system for numbering satoshi, giving individual satoshi a serial number, and then tracking them in transactions. 

Despite the fact that digital collectibles have been on Bitcoin’s blockchain since 2014, some are now expressing disappointment with Ordinals, while others are excited about the evolution the protocol would bring to the Bitcoin mainnet. 

And indeed, on this subject, Rodarmor himself, in a roundup of tweets, comments on the controversy that has been brewing in recent days. 

Ordinals’ Bitcoin NFTs: crypto community divided between naysayers and supporters

While Rodarmor takes the various controversies philosophically, here’s what the launch of his Ordinals protocol and Bitcoin NFTs has sparked. 

The Bitcoin maximalist, CEO and co-founder of Blockstream, said:

For someone else, Ordinals has become an affront to the principles of Bitcoin:

However, there are also those who enthusiastically support Ordinals and Bitcoin NFTs:

NFT market: CryptoPunks dominate in terms of market cap

Since the beginning of this 2023, the famous CryptoPunks have returned to dominate the NFT scene. Indeed, according to NFTGo’s data, today the total market cap of CryptoPunks’ NFT collection amounts to 820,000 ETH, placing them first in the ranking

Bored Ape Yacht Club’s famous NFT collection is also high in the NFT rankings, albeit by total sales volume. 

In fact, BAYC ranks first in total sales volume, which now stands at over 972,000 ETH, compared to CryptoPunk’s 959K ETH

Moreover, from what has emerged, it appears that the 2023 sales volume increases are also coming from one particular NFT marketplace: Blur. 

On the day of 2 January 2023, Blur had reported a total sales volume of over $98 million, surpassing the $97 million recorded on that same day by the infamous OpenSea

Blur is an NFT aggregator, where users can compare NFTs across marketplaces and manage wallets with advanced analytics and thereby purchase NFTs. 

Stefania Stimolo
Stefania Stimolo
Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.