Bitcoin-Based Ordinals Create Record High Number of Minted NFTs
According to the report, according to Dune data, the total number of NFTs minted by Ordinals based on Bitcoin reached 170001, a record high.
Bitcoin ne…
According to the report, according to Dune data, the total number of NFTs minted by Ordinals based on Bitcoin reached 170001, a record high.
Bitcoin network NFT protocol Ordinals has cast more than 170000 pieces
Interpretation of the news:
According to the report released by Dune data, the total number of Non-Fungible Tokens (NFTs) minted by Ordinals based on Bitcoin has reached a record high of 170001. This surge in NFT minting by Ordinals has been mainly driven by the rising popularity and mainstream adoption of NFTs in recent times.
NFTs are unique digital assets that represent ownership or proof of authenticity of a particular digital asset, such as art, music, videos, or even tweets. As unique digital assets, they cannot be replicated, duplicated or copied like other digital assets, making them special and valuable to art collectors and investors alike.
The surge in NFT minting by Ordinals is a significant milestone in the adoption of Bitcoin, as it presents new opportunities for the blockchain industry to explore the potential of digital assets. Bitcoin’s blockchain technology allows for the creation and tracking of NFTs using smart contracts, which ensure secure and transparent tracking of transactions on the blockchain.
The rise in NFT minting by Ordinals based on Bitcoin has several implications for the blockchain industry, as it raises the potential for the development of a new generation of digital assets. NFTs offer an entirely new way for artists and creators to monetize their work by reducing intermediaries, increasing direct ownership, and providing greater transparency and security of transactions.
In conclusion, the surge in NFT minting by Ordinals based on Bitcoin represents a significant milestone in the development of blockchain technology and the adoption of digital assets, highlighting its potential for mainstream adoption. There are immense possibilities that exist for the blockchain industry to explore in terms of creating new digital assets, and the creation of NFTs is just the beginning.
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