Big NFT Projects Are Now Expanding In Bitcoin Ordinals

At the beginning of the year, Bitcoin Ordinals made its debut and has become a trend ever since. A few months after its launch, Bitcoin NFTs have become apparent and shown their massive contribution to the Web3 ecosystem. So far, more than 11 million Ordinals inscriptions have been minted including Cursed Ordinals, Punks derivatives, and record-breaking blocks.

Currently, big NFT projects from other blockchains along with their collections have started expanding to Ordinals and the sphere of Bitcoin NFTs has welcomed and still welcoming newcomers from both Ethereum and Solana ecosystems.CryptoSkulls, OnChainMonkey, DeGods, Yuga Lab’s Twelvefold, Okay Bears, and Onl Force are just some of the big crypto projects who have joined the Bitcoin Ordinals

Moreover, with its potential to open up more opportunities in digital asset management, NFTs, and Collectibles, Ordinals is currently developing a paradigm shift in the functionality of Bitcoin. As the Ordinals project evolves, the recursion integration sets ups new opportunities for more complex and interactive content on the Bitcoin blockchain.

‘Ordinals 2.0’ recursion aims to allow inscriptions to access and use material from other inscriptions. This allows the remixing of existing inscriptions and the creation of shared public resources. 

This recursive functionality will bring several benefits such as material reusability, dynamic content creation, cross-inscription interaction, and enhanced security and control. However, the recursion alone won’t bring full smart contract functionality to Bitcoin, its integration with the Ordinals will create an environment that supports more complex and interactive use cases within the Bitcoin ecosystem. Hence, with them working together, smart contract functionality can be facilitated within the Bitcoin blockchain allowing more interest and development in Bitcoin-based applications and reducing on-chain bloat.

ABOUT THE AUTHOR See More

Sophia Cruz

Financial Writer - Asian & European Desks

Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.

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