It might sound surprising, but yes, Bitcoin NFTs do exist. They are created thanks to the surge of the ordinals, which are a new technology that enables Bitcoin to expand its horizons and go beyond being just a store of value. Crypto-enthusiasts are used to the programmable blockchain Ethereum. Still, apart from some core differences between the two popular currencies’ NFTs, like the fungibility of the assets, they provide users with similar benefits. For instance, developers can create tokens for collectors, creators can digitalize their artwork and sell it on the broad market, they can be used as a store of value for trading purposes and in-game items, and they also enable the implementation of smart contracts, helping businesses automate complex processes. So, if you are willing to integrate the innovative ordinals into your Crypto portfolio or start creating NFTs to access the broad digital market, this is everything you should know about the transformative technology:
The surge of ordinals
Bitcoin is known for being a P2P payment method and a store of value. However, in 2023, the invention of ordinals was a significant event that completely reshaped the BTC ecosystem. Bitcoin ordinals are equivalent to non-fungible tokens, and before becoming ordinals, they maintain the name of Satoshi. Satoshis are the smallest part of a Bitcoin unit, which is divided so that a wider audience can benefit from it. Each Satoshi receives a number, a numeric code called ordinal, through which data like text, images, or other assets can be attached. The unique nature of ordinals stands, in fact, in this number that is given based on the mining order, proving the originality of the token. By adding data to the ordinal, Satoshis become NFTs that cover a broad range of use cases. For instance, NFTs can be used in the gaming industry as in-game items, they’re the engine for smart contracts, creators can digitalize their artwork and sell it on the web3, or they can also be used to store sensitive data on the immutable blockchain.
How to buy and sell ordinals
Ordinals have taken the crypto world by storm. Still, the innovation raised the interest in Bitcoin significantly, and many users want to embrace this technology and begin their ordinal trading journey. So, how can you buy NFTs and Bitcoin ordinals? First of all, you need a compatible wallet or see if your regular Bitcoin wallet supports ordinals. To discover various ordinals you can buy, conduct research to find the perfect marketplace that serves your needs. For instance, you can access runes DEX to find a broad range of the most popular NFTs, from collectibles to real-world tokenized items. Then, you can proceed with buying by following the clear instructions on the website and selecting your type of wallet from the list to connect it to the platform. After the connection, you will receive an address for storing your digital artifacts and another address for payments and transaction fees.
Last but not least, you can prepare your wallet for trading and wait for confirmation. Once you’re all set, you can proceed to explore the world of the ordinals and, with a few clicks, buy what attracts you most, and you can also sell the assets by electing the NFT you would like to make a profit from and put it on the market waiting for offers from potential buyers.
How to create unique assets
Once you discover the opportunities that the ordinals market brings, you will most likely want to start creating NFTs yourself. No matter if you are an artist who wants to access a global audience to sell your artwork or you find meme coins a great idea to attract collectors, the ordinals are accessible, and you can hop on the trend to become a creator. Of course, in order to create NFTs, you have to own Satoshis. You have to choose the asset you would like to tokenize, like a piece of artwork, a collectible, an in-game item, or any other type of digital asset. After that, you can create a digital representation, a file like a JPEG or PNG image, or even a 3D model of your asset. Now, you will need to find a platform that supports ordinal inscription on the blockchain and proceed by Minting your NFT. While you mint the asset, you have to add its metadata, which includes the name of your ordinal, a description, and the image representing it to provide useful context about your NFT for potential buyers. Next, you can list your NFT on a marketplace supporting ordinals, and once the token is listed for sale, you can promote it by sharing the news of the launch on social media and engaging with the target audience, reaching out to collectors in the NFTs community.
Advantages of Bitcoin ordinals
The transformative surge of bitcoin NFTs brings the digital coin Blockchain to the next level, expanding its use cases and giving new opportunities to investors to gain returns on the digital market. The ordinals are accessible to anyone, and they cover a broader audience that seek programmability from Bitcoin. Additionally, NFTs benefit from the same levels of security and resistance to censorship as Bitcoin, creating a secure, private, and free ecosystem that attracts crypto-enthusiasts who want to dip their toe into the decentralized markets. Ownership and authenticity are also aspects that determine the efficiency of Bitcoin NFTs, and the underlying regulations regarding the originality of the assets can reshape the web3, inviting new entries like art creators to give a chance to the digital world for a broader audience and considerable gains from their work.
The bottom line
The ever-evolving digital world’s latest innovation takes crypto-enthusiasts by storm and pushes the leader of the market, Bitcoin, to a new high. No matter if you are an artist looking for a new chance to showcase and sell your work or an NFT collector, the ordinals created a realm of opportunities you should consider delving into.
