#NFT in the #Bitcoin network - a new hype 🙅‍♂

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You put a lot of reactions to the post about "Bitcoin ecosystem". Which means it's time to dive a little deeper and explore the Ordinals protocol. Some of the words in the post may not be clear to you. But remember, you can always ask a question in the comments and we will try to answer it as extensively as possible!

➡️ A new Bitcoin Ordinals protocol has made it possible to add pictures to the bitcoin blockchain. The creator of the protocol, Casey Rodarmore, calls them "digital artifacts.

Many analysts criticize this "update" because the pictures increase the load on the network and increase the cost of transactions. The hype around this story is growing because many people want to get NFT on BTC network without thinking too much.

➡️ Speculators are already launching their collections. The number of picture mines is growing rapidly. First of all, high-profile collections are launched, for example with bitcoin punks or domain names.

Here are a few already existing projects:

⚫️#BitcoinShrooms - first 100 entries created, could potentially be a top story.

⚫️#InscribedPepes - collection of 69 pictures of Pepe the Frog, traded above 1 BTC, you may encounter fake sales.

⚫️#BTCToadz - created up to 5,000 entries, includes 111 frog pictures.

⚫️#Punks On Bitcoin - collection with a saple of 10K.

↪️ In a wave of hype, the number of collections is likely to grow in the near future, and the crypto media will fuel interest. But this story could end quickly, as the mint process here is very complicated and the number of buyers is limited. Be sure to do your analysis before you buy something, there is enough scam here as well.