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- Ordinals project has recorded 11,000 NFTs Mints on the Bitcoin Network within weeks of launch.
- Despite criticisms of a cross-section of Bitcoin faithful, supporters of NFTs on the Bitcoin network have argued that it is more innovative and can ignite the next bull run.
- On the other hand, critics say it is not cut out for Bitcoin and can expose the network to several hacks this year.
For the past few weeks, the Bitcoin (BTC) community has been divided over the introduction of non-fungible tokens (NFTs) to the blockchain last month, with many calling for more innovations on the blockchain.
According to new data from Dune, the Ordinals Projects has recorded 11,000 inscriptions on the Bitcoin blockchain since its launch on Jan 21. Ordinals is the latest attempt to integrate NFTs into Bitcoin, and it has come under fire from core BTC enthusiasts.
Before Ordinals, there was Counterparty which first introduced NFTs to the Bitcoin ecosystem with its Rare Pepes Collection in 2014 and Stacks in 2017. The main…
