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There are rumors that the famous NFT Bored Ape Yacht Club collection may soon be minted on Bitcoin, courtesy of the Ordinals protocol, especially after CryptoPunks’ 10,000 Non-Fungible tokens already are (though not in an official capacity).
The rare NFT Bored Ape minted on Bitcoin is already a reality
Apparently, the NFT-loving community is moving from Ethereum to Bitcoin, thanks to the Ordinals protocol, with the famous collection of Bored Ape NFTs expected to join the list soon.
And indeed, there are those who claim that this has already happened. As Bitcoin Magazine claims with a tweet of its own, in which it shares who would have already carried out the mint of a BAYC NFT on Bitcoin Network, burning the related NFT from the Ethereum Blockchain:
More: https://t.co/cfltesvjMD
— Bitcoin Magazine (@BitcoinMagazine) February 13, 2023
Basically, account Jason A. Williams posted how he proceeded to burn BAYC #1626 from the Ethereum network, to mint it through the Ordinals protocol on Bitcoin’s Blockchain.
Bored Ape NFT on Bitcoin Ordinals after CryptoPunks
The excitement of the NFT community to see the Bored Ape NFT being minted on Bitcoin through Ordinals comes after the 10,000 Bitcoin Punks, the copy of the entire 10,000 CryptoPunks NFT collection, were minted.
12 years ago I was mining Bitcoin on a gaming PC in my parent's basement.
Today, we just minted out the first 10k NFT collection on Bitcoin.
Thanks to everyone, but most importantly the @cryptopunksnfts. ❤️@Bitcoin_Punks_ + https://t.co/3O4wIo0OYC pic.twitter.com/BV0a6KmrWj
— Robert Clarke (@robertjfclarke) February 9, 2023
At this point, the issue of these minted NFTs on Bitcoin Ordinals face complications as there is currently no secure marketplace to transfer new Bitcoin NFTs between individuals. Affected community members must engage with each other for Over-the-Counter (OTC) trading using the Sparrow wallet.
This might result in fraudsters taking advantage of the situation to trick inexperienced people into stealing BTC from them.
Incidentally, the Bitcoin Punk collection is not an official Yuga Labs collection and therefore, the community now wanders indecisively on how to move forward. Nonetheless, there are many enthusiasts who prefer the BTC network to ETH and follow in this direction.
Ordinals and NFTs on Bitcoin: amid criticism and enthusiasm
Last month, the Ordinals protocol created by software engineer Casey Rodarmor officially launched the program on Bitcoin’s mainnet that enables the creation of NFTs.
These are ‘digital artifacts’ such as JPEGs, PDFs or video or audio formats in their NFT format that the protocol allows to be developed into their Bitcoin version.
Such news sparked excitement and criticism on the social network of crypto-lovers Twitter. Among many, some accused Ordinals of trying to address Bitcoin’s principles, while for others Ordinals is an experiment in evolving Bitcoin to expand its use cases.