What are Bitcoin Ordinals, called Bitcoin NFTs?
Top 5 Bitcoin NFTs Collections of 2023
Today, we cover an important topic. What are Bitcoin Ordinals? Called also Bitcoin NFTs. I explain all in detail and review the Top 5 Bitcoin NFT Collections. And How to get your first Bitcoin NFT easily. What are Bitcoin Ordinals
What Are Bitcoin Ordinals 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. The creation of Ordinals enables digital assets, such as security tokens, stablecoins, or NFTs, to be attached to an Ordinal. 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.
Difference between NFTs from Ethereum or other chains and Bitcoin NFTs
The difference between common NFTs found on Ethereum, and other smart contract-enabled layer-1 chains, are that this new type of Bitcoin NFT is 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 of time as they won’t have to worry about their NFT disappearing.
5 Popular Bitcoin Ordinals NFT Collections
1 – Bitcoin Shrooms
Bitcoin Shrooms tops our list as 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 are referred to as ‘Digital Artifacts’ on their site.
2 – Ordinal Punks
The second Bitcoin Ordinals collection that is gaining popularity is the Ordinal Punks collection which 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.
3 – Taproot Wizards Ordinals
The Taproot Wizards is 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.
4 – Bitcoin Rocks Ordinals
Despite not having a website, the Bitcoin Rocks Ordinals have an active Discord group and a Twitter account that keeps people updated on the collection. The highest bid for a Bitcoin Rock is currently 1000 BTC, although it is hard to ascertain whether it is genuine.
5 – Ordinals Loops
The objects in the collection go on sale on the project’s Discord group, with one of the highest bids currently worth 4.178 BTC. However, Ordinal Loops donate parts of their earnings to Bitcoin-based projects like the Bitcoin Policy Institute, Open Sats Legal Defence Fund, and Casey Rodarmor’s 21st OpenDime. Further, object number 4 wasn’t sold to the public but, instead, is held collectively by a group of 21 people in what they call a ‘SATDAO.’ Ordinal Loops is considered one of the first inscriptions, with its first object being inscription 452.
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