ORDINALS IS BRINGING THE NFT INDUSTRY TO BITCOIN
The Ordinals protocol has taken the Bitcoin world by storm. Quickly amassing over 9,000,000 inscriptions, the new protocol allows for arbitrary data to be embedded on the Bitcoin blockchain. In addition to attracting attention from the NFT industry, Ordinals have led to a major increase in the fees required to send bitcoin, eliciting new debate on how Bitcoin should deal with high fee environments.
In a recent interview with Bitcoin Magazine, Farokh, founder of the Rug Radio platform and a well-known collector within the NFT industry, shared insights into the world of Bitcoin NFTs and his vision for the Bitcoin inscription market’s future. Reflecting on his own Bitcoin and NFT journey, Farokh acknowledged the initial confusion surrounding Bitcoin in 2012, given the lack of development and user-friendly platforms at the time. However, he highlighted the rapid growth and development of NFT platforms in 2021, and how that is reflected now in the context of Bitcoin NFTs’ sudden rise in popularity.
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