DeGods Casts NFTs Using Ordinals Protocol on Bitcoin Chain
On February 16, it was reported that DeGods, the Solana ecological NFT project, had used the Ordinals protocol to cast 535 NFTs on the Bitcoin chain. Rohun Vor…
On February 16, it was reported that DeGods, the Solana ecological NFT project, had used the Ordinals protocol to cast 535 NFTs on the Bitcoin chain. Rohun Vora (Frank), founder of DeGods, said that he and Kevin Henrikson, CEO of Dust Labs, were both long-term lovers of Bitcoin. In the early days of the Ordinals craze, they were very happy to have the opportunity to bring the project to the Bitcoin network. （Decrypt）
Solana Ecological NFT Project DeGods is cast on the Bitcoin chain based on Ordinals
Analysis based on this information:
DeGods, a Solana ecological NFT project, made headlines on February 16 when it revealed that it had cast 535 NFTs on the Bitcoin chain using the Ordinals protocol. This move is significant for several reasons, including the fact that it brings visibility to the Ordinals project, which aims to create a decentralized, censorship-resistant naming system for all things on the internet.
The founder of DeGods, Rohun Vora (Frank), explained that he and Kevin Henrikson, the CEO of Dust Labs, have been long-term lovers of Bitcoin. They were both excited to have the opportunity to bring the Ordinals project to the Bitcoin network, especially in the early days of the craze. By bringing the Ordinals protocol to the Bitcoin chain, Vora and Henrikson are aiming to open up new possibilities for NFT creators and collectors.
NFTs are a type of digital asset that represent ownership of a unique item or piece of content, such as artwork, music, or video. They are stored on the blockchain, which makes them immutable and transparent. However, the majority of NFTs are currently created and traded on the Ethereum network, and this creates limitations in terms of scalability and transaction fees.
By using the Ordinals protocol, DeGods was able to cast NFTs on the Bitcoin chain, which offers several advantages over traditional NFT platforms. These include the ability to create NFTs at a lower cost, as well as faster transaction times and greater scalability. This means that more creators and collectors will be able to participate in the NFT space, leading to greater adoption and innovation.
Additionally, by bringing the Ordinals protocol to the Bitcoin network, Vora and Henrikson are helping to increase the network’s utility and relevance. Bitcoin has long been criticized for its lack of smart contract functionality, but with the addition of the Ordinals protocol, it could potentially open up new use cases and applications for the network.
Overall, DeGods casting NFTs using the Ordinals protocol on the Bitcoin chain is a significant development for the NFT space and the broader cryptocurrency ecosystem. It highlights the importance of interoperability and collaboration between different blockchain networks, and it could potentially lead to new innovations that benefit creators, collectors, and the entire industry.
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