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What are Ordinals?

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_x000D_Screenshot: href=”https://twelvefold.io/gallery”>TwelveFold

What are Ordinals?

Ordinals are the latest type of NFTs that are based on Bitcoin and stored directly on the blockchain. They were introduced in January 2023 after an upgrade enabled more data storage capacity for each satoshi (the smallest unit of bitcoin). Unlike other NFTs that rely on external platforms, Ordinals cannot be altered or deleted once created. In just a few months, Ordinals have become a lucrative market, with TwelveFold, a set of 300 images of 3D objects rendered in a square grid created by Yuga Labs, selling for $16.5 million on March 14, 2023.

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