During a recent podcast appearance, Elon Musk, CEO of Tesla Inc, critiqued non-fungible tokens (NFTs) but inadvertently made a case for Bitcoin Ordinals, Bitcoin’s version of NFTs.
The billionaire entrepreneur argued that NFT projects “should at least encode the JPEG in the blockchain,” a comment that was met with approval by many Bitcoin proponents. Musk’s argument was made during an interview released on Oct. 31 on The Joe Rogan Experience.
Bitcoin Ordinals, launched in January by developer Casey Rodarmor, have been gaining traction. Cryptocurrency analyst Will Clemente highlighted that there are currently over 38 million Ordinals inscriptions that will permanently exist on Bitcoin’s blockchain, a fact that supports Musk’s argument.
Rohun “Frank” Vora, the creator of NFT projects DeGods and y00ts, agreed with Musk’s stance, stating that “Ordinals will continue to grow” as they provide an elegant solution to universal criticisms of NFTs.
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