Elon Musk slams NFTs but ends up arguing the case for Bitcoin Ordinals

📆 11/2/2023 5:07 AM
📰 Cointelegraph

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Billionaire Elon Musk criticized NFT projects for not encoding images on-chain, causing many to argue why Bitcoin Ordinals are so important.

Elon Musk argued that NFT projects “should at least encode the JPEG in the blockchain,” to the delight of many Bitcoiners.While publicly mocking non-fungible token during a podcast, Tesla CEO and billionaire Elon Musk appears to have inadvertently highlighted the case for Bitcoin Ordinals, also known as Bitcoin NFTs.

On social media, Bitcoiners argued Musk’s comments actually summed up the use case for Bitcoin Ordinals. Bitcoin’s version of NFTs launched in January by developer Casey Rodarmor, which was made possible by the Taproot soft fork in November 2021.

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