WTF is a Bitcoin NFT

March 8, 2023

Should I mint Bitcoin NFT too?

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What are Ordinals aka Bitcoin NFTs?
Should you get one?

Chances are, you’ve heard about them.
Let’s break them down.

Ordinal: A layer-1 protocol that lets users create NFTs 
on Bitcoin.

It was launched in January 2023 by @rodarmor
Basically, it finds a way to make bitcoin non-fungible.

Let's look into Bitcoin NFT:

1. How It Works

Bitcoin NFT is created by Inscription.

Inscription: A way to write any data (text, image, SVG, html)on the bitcoin blockchain.

Sort of like stickers (Ordinals) that you put on a box (Bitcoin), where you could write or draw (Inscribe).

2. Stats & Growth

As soon as ordinals launched, inscriptions surged.

3. Pros & Cons


Inscriptions are a bit different from traditional NFTs:

  1. always on-chain
  2. immutable
  3. decentralized
  4. and native to Bitcoin.

@ChainLeftist analyzed: Inscriptions have slightly higher permanence than ETH but a much lower storage fee.


Opponents of Bitcoin NFT:

The hardline Bitcoiners like @adam3us 
aren’t too happy about Bitcoin NFTs.

It's an exploit because Bitcoin was not designed to store jpegs, said @CryptoTea.

Bitcoin creator Satoshi Nakamoto said data unrelated to financial transactions should not be stored on the blockchain.

4. Top 7 Bitcoin NFT Collections

  1. @ordrocks
  2. @OrdinalPunks
  3. @Bitcoin_Punks_
  4. @BitcoinShrooms
  5. @TaprootWizards 
created by Web3 developer @udiWertheimer
  6. @ordinalbirds
  7. @TwelveFold created by @yugalabs

Smoothie's Take

Should you invest in Bitcoin NFT? 

For now, it's hard to say whether this is 
a short-term hype or a change of direction.

Never FOMO invest, look into collections you understand and trust.

More to Read:

A Guide to Buying Ordinal NFTs

Safety Info to Know Before Buying Ordinal NFTs

11 Misconceptions About Ordinals

Building Amid the Bitcoin NFT Buzz


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