The case for Bitcoin NFTs
Yuga Labs, the company behind the famous Bored Ape Yacht Club (BAYC) NFT collection and all the other NFT collections related to Bored Apes, recently embraced Bitcoin NFTs using the Ordinals protocol. In the Bitcoin ecosystem, Yuga Labs created a new NFT collection called TwelveFold.

As someone who has always seen the Ethereum network as functionally superior to the Bitcoin network, I was surprised by this move by Yuga Labs. After looking deeper, I started to understand the significance of Bitcoin NFTs.

The idea of having NFTs on the Bitcoin network began in 2021 with the Taperoot upgrade, which allowed digital artifacts to be inscribed in the blockchain. Here's why Bitcoin NFTs are better than Ethereum NFTs:

"So-called bitcoin NFTs are notably different and potentially better than NFTs on Ethereum, which often require data to be stored on external servers such as IPFS. An Ethereum NFT is an immutable token, which links back to potentially mutable data. Ordinals makes storing NFTs more secure, because settlement stays on Bitcoin’s chain forever. It's possible many other popular NFT series could follow Yuga's footsteps and deploy projects on Bitcoin."

The Bitcoin community is divided on the whole NFT development. Some prefer the Bitcoin network to only be about making $BTC.X the currency of the future and find these NFT projects to be a distraction from its true potential. Others see it as a necessity for expanding the commercialization and adoption of Bitcoin.

As long as institutions continue to play a major role in crypto, Bitcoin NFTs are looking to receive more institutional money due to the fact that its security features are better than the Ethereum NFTs.

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