During The Joe Rogan Experience podcast, Tesla CEO and billionaire Elon Musk accidentally highlighted the case of Bitcoin Ordinals, also known as Bitcoin NFTs.
“The funny thing is, NFTs aren’t even on the blockchain. But it is just a JPEG URL,” Musk said in an interview published on October 31.relatedwith The Joe Rogan Experience
Musk said NFT projects should at least encode JPEGs on the network:
“You should at least encode JPEGs on the blockchain, because if those organizations go out of business, You will never see your image again.”
“This is why Ordinals will continue to grow,” Rohun “Frank” Vora, creator of NFT projects DeGods and y00ts. say “It is the most elegant solution to the most universal critique of NFTs.”
Ordinals developer known as “Leonidas” alsolikeMusk’s comments were so great that they engraved a 19-second video into Bitcoin’s blockchain at block 814,773.
However, Musk’s comments are not true of all NFT projects on Ethereum. For example, Larva Labs atmaternal grandmother Cryptopunks NFT went on-chain in August 2021 after staying off-chain for the first four years.
“Storing them on-chain in this way helps cement the long-term viability of Cryptopunks images and features and ensures full access to anyone with an Ethereum-only client,” Larva said. Labs in a statement
Metagood, the team behind OnChainMonkeys on Ethereum It announced in September that it would be moving NFTs to Bitcoin.
“The Bitcoin Ordinal protocol is designed for better decentralization and security than the Ethereum protocol, and in the end, high-value NFTs on the Bitcoin network will win.”
refer : cointelegraph.com
picture allsides.com
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