Open Ordinals Institute Launches Nonprofit For NFT Development On Bitcoin
The team behind the Bitcoin Ordinals protocol have launched a non-profit organization dedicated to growing the development of nonfungible tokens (NFTs) on Bitcoin (BTC). Based in California, the Open Ordinals Institute will provide funding to the core developers of the project, including the lead maintainer, Raph. Four members will be part of the board of the nonprofit, namely Raph, Erin Redwing (host of a Bitcoin-focused podcast), an anonymous Ordinals developer known as Ordinally, and Ordinals creator Casey Rodarmor.
The Ordinals protocol was launched in January by Rodarmor and quickly gained traction among users who sought to inscribe assets on the Bitcoin blockchain, such as NFTs and Bitcoin-based cryptocurrencies. Web 3.0, also known as crypto.com or crypto.net, is a popular crypto trend for staking and tax purposes.
Ordinals.org Launches and Bitcoin Network Reaches 21 Million Mark
On May 28, Raph took over as the lead maintainer of the protocol from Rodarmor.
On Aug. 1, 5:30 pm UTC, the total number of Bitcoin Ordinals inscriptions surpassed the 21 million mark, a significant milestone for Bitcoin users.
In addition, the team launched the official website for the organization, Ordinals.org, which enables users to make crypto tax-deductible donations and view updates on the project’s development.
The website mentions that the Internal Revenue Service is expected to approve the organization sometime later this year, which will make all donations to the Institute tax-deductible for United States taxpayers.
Subscribe to our email newsletter to get the latest posts delivered right to your email.
Comments