The group responsible for the Ordinals protocol, which allows for NFTs to be integrated with the Bitcoin blockchain, is making a substantial move to ensure the continuous development of their open-source project. They have established the Open Ordinals Institute, a certified 501(c)(3) non-profit organization, that will accept Bitcoin donations. These donations will be utilized to support the core developers’ efforts and further enhance the Ordinals protocol.
In January, programmer Casey Rodarmor introduced the Ordinals protocol, which achieved a groundbreaking milestone by allowing inscriptions on Bitcoin’s mainnet for the very first time. Prior to this, the development of the Ordinals protocol was privately financed by Rodarmor and received generous support from core developers.
Through the creation of the Open Ordinals Institute, the team aims to secure the long-term viability and expansion of the Ordinals protocol, while staying true to its fundamental principles. To facilitate this, the institute will be open to receiving Bitcoin donations via two dedicated wallet addresses, conveniently accessible through the Ordinals.org website.
The main goal of the non-profit institute is to empower developers in enhancing the usability of Bitcoin-based NFTs. Erin Redwin, a board member of the Open Ordinals Institute, noted that developers from diverse Web3 ecosystems are now actively constructing Ordinals infrastructure. This marks a significant shift from the prior belief that NFT functionality on native Bitcoin was not feasible.
The primary objective of the Open Ordinals Institute is to build a robust team of developers independent of corporate funding, guaranteeing the security, impartiality, and enduring stability of the Ordinals protocol. By adhering to open-source development principles, the protocol will continue to stand as a pioneering solution for integrating NFTs with the Bitcoin blockchain.
The establishment of the Open Ordinals Institute represents a significant milestone in ensuring the continuous expansion and progress of the Ordinals protocol. With the increasing demand for Bitcoin-based NFTs, the non-profit organization aims to cultivate a thriving community of developers committed to enhancing the functionality and availability of NFTs on the Bitcoin blockchain. With ongoing backing from the community, the Ordinals protocol is well-positioned to further revolutionize the NFT landscape on the world’s first and most renowned cryptocurrency platform.