Ordinals: An Overview of Bitcoin NFTs

Francesco
Coinmonks
6 min readFeb 9, 2023

--

The Orange coin has also NFTs — pretty much since 2015.

Bitcoin NFTs are not a first.

NFTs have been part of the Bitcoin ecosystem since 2015 on Counterparty, a blockchain network that used Bitcoin’s OP_RETURN function to demarcate non-fungible assets. Counterparty was launched in November 2014 after the introduction of OP_RETURN in March of the same year.

Rare pepes in 2016, and Magic-the-gathering-sort-of cards (Spell of Genesis) are a few examples. For a directory of all Rare pepes, please refer to:

What Are Bitcoin Ordinals?

Ordinal NFTs (aka digital artifacts or inscriptions) allow users to mint non-fungible tokens onto Bitcoin’s blockchain — image and all.

The Ordinals protocol was launched in January 2023 and it enables users to explore, transfer, and receive individual satoshis — which may include unique inscribed data such as videos and images. It’s a new way to mint NFTs on Bitcoin, one that…

--

--

Francesco
Coinmonks

I simplify crypto. Follow me on Twitter: @francescoweb3