Bitcoin NFTs Are Broken, but They’re About To Be Fixed

TL;DR

• One of the newest/clunkiest features in the crypto world is Bitcoin Ordinals (aka Bitcoin NFTs).

• Currently, bidding and sales for Bitcoin NFTs are managed using – get this – Excel spreadsheets (not a joke).

• Magic Eden, the largest Solana NFT marketplace out there, has just announced plans to bring smart contract-like efficiency to the Bitcoin Ordinal space.

Full Story

The easier something is to use, the more people will use it.

It’s a powerful concept.

Hell, Apple’s whole value pitch was that their products “just work,” for a good decade or so (back when Microsoft was a dumpster fire).

Same applies to Web3…though the whole space is still playing catch up with the user experiences of perfected in Web2.

One of the newest/clunkiest features in the crypto world is Bitcoin Ordinals (aka Bitcoin NFTs).

Currently, bidding and sales for Bitcoin NFTs are managed using – get this – Excel spreadsheets.

(Not a joke).

Compared to NFTs on Ethereum/Solana/Polygon, which manage bidding, sales and exchanges automatically (using a magic little thing called a smart contract).

But it looks like this gap in technology is about to close.

Magic Eden, the largest Solana NFT marketplace out there, has just announced plans to bring smart contract-like efficiency to the Bitcoin Ordinal space.

…and the easier something is to use, the more people will use it.

Which means we can expect faster adoption of Bitcoin NFTs, and increased use of the Bitcoin network.

We’re keen to see where this leads!