Ordinal Theory has given birth to a new type of NFT, which is inscribed directly on the Bitcoin blockchain, ushering in a new era of on-chain Bitcoin NFTs. Created by Bitcoin developer Casey Rodarmor, Ordinal Theory is a numbering scheme that gives every Satoshi a number, allowing for each sat to be tracked and transferred. These numbers are referred to as Ordinals, and each Ordinal is numbered in the order they are mined.
Through a process called inscribing, Ordinals can be inscribed with content (such as an image or video files) to create on-chain crypto collectibles, which Rodarmor refers to as digital artifacts. These digital artifacts have now widely become known as Bitcoin NFTs. Know more about the Top 5 NFT Collections, which are revolutionaries and capable to transform the world of NFTs.
The introduction of Ordinals enables digital assets, such as security tokens, stablecoins, or NFTs, to be attached to an Ordinal. Bitcoin Ordinal NFTs are stored forever directly on the Bitcoin blockchain, whereas traditional NFTs are stored in a third-party database and collectors essentially only have ownership of the link to that file in their crypto wallet. Bitcoin Ordinal NFTs are, therefore, much more appealing for collectors who are looking to hold their NFTs for a long period as they won’t have to worry about their NFTs disappearing.
Let’s know more about the Top 5 NFT Collections, which are revolutionaries-
Bitcoin Shrooms was one of the first Bitcoin Ordinals NFT collections to be created. The first shroom was Inscription 19, created by an unknown group of people, which alludes to the mystery and anonymity of the Bitcoin blockchain. Currently, only 210 Bitcoin Shrooms are inscribed into the Bitcoin blockchain, which is referred to as ‘Digital Artifacts’ on their site.
The Ordinal Punks collection pays homage to the famous Crypto Punks collection of NFTs. Ordinal Punks has 100 different ‘punk’ characters, with the first Ordinal Punk recorded as inscription 642 on the Bitcoin blockchain. Currently, the collection, created by an anonymous person known as FlowStay, is on sale, with the lowest bid being 3.7 BTC while the highest is at 50 BTC (although it’s hard to verify whether these bids are legitimate).
The Taproot Wizards are a hand-drawn collection of 2101 Wizards created by the developer Udi Wertheimer in cooperation with Luxor, one of the biggest Bitcoin mining companies. This collection is known for the biggest transaction ever processed on the Bitcoin network, with the first inscription, inscription 652, occupying a space of 4MB.
The Ordinal Loops project is a Bitcoin Inscription collection that aims to have Bitcoin Artifacts representing the philosophy and ethos of Bitcoin and how the network brings change to the world. The Ordinals team, whose members are unknown, has created two chapters in the project. The first is known as the ‘Do Not Fiat’ series. It depicts Bitcoin’s role in working against the major Fiat currencies. The second series is the ‘Roots of Immutability’ which pays homage to the seven hashes which have significantly impacted the Bitcoin network. The third collection is yet to be released.
Bitcoin Rocks have been created by Ordrocks and pay tribute to the famous ‘Ether Rocks’ collection, which was amongst the most prolific NFT collections on Ethereum. The collection holds one of the earliest inscriptions on the Bitcoin blockchain, with the first rock being inscription 71. Ordrocks has inscribed 100 Bitcoin Rocks since then.
To store your Bitcoin Ordinal NFTs, you currently only have the choice between a handful of Bitcoin wallets that provide Ordinal support. Xverse has created a wallet