2023-8-3 14:23 |
The team behind the Ordinals protocol, which enables NFTs to be added to the Bitcoin blockchain, is taking a significant step to sustain its open-source development. The newly formed Open Ordinals Institute, a registered 501(c)(3) non-profit organization, will collect Bitcoin donations to support the work of its core developers and advance the Ordinals protocol.
The Ordinals protocol team is proud to announce the launch of the Open Ordinals Institute, a 501(c)(3) non-profit organization to foster the growth and advancement of the Bitcoin Ordinals protocol. Donations can be made at our website: https://t.co/H7ymKSL4VR
— Open Ordinals Institute (@ordinalsorg) August 1, 2023 NFTs on BitcoinIntroduced by programmer Casey Rodarmor in January, the Ordinals protocol marked a groundbreaking milestone as it enabled inscriptions on Bitcoin’s mainnet for the first time. Until now, the development of the Ordinals protocol was privately funded by Rodarmor and supported by generous contributions from core developers.
With the establishment of the Open Ordinals Institute, the team seeks to ensure long-term sustainability and growth of the Ordinals protocol while adhering to its core values. The institute will accept Bitcoin donations through two dedicated wallet addresses accessible via the Ordinals.org website.
Huge shoutout to the Ordinals core team for taking the important step of forming the Open Ordinals Institute!@ordinalsorg is a 501(c)(3) non profit organization which will fund development, education, and research around the Ordinals Protocol. pic.twitter.com/39IOgVh9EC
— Leonidas (@LeonidasNFT) August 1, 2023The primary objective of the non-profit institute is to empower developers to enhance the utility of Bitcoin-based NFTs. Erin Redwin, a board member of the Open Ordinals Institute, expressed that developers across various Web3 ecosystems are increasingly building Ordinals infrastructure. This signifies a shift from the previous belief that NFT functionality on native Bitcoin was not possible.
Ensuring Security and NeutralityThe Open Ordinals Institute aims to assemble a strong team of developers without corporate funding ties. This approach ensures the security, neutrality, and long-term stability of the Ordinals protocol. By maintaining open-source development practices, the protocol will continue to serve as a pioneering solution in the integration of NFTs with the Bitcoin blockchain.
The launch of the Open Ordinals Institute marks a significant step towards the sustained growth and development of the Ordinals protocol. As the demand for Bitcoin-based NFTs grows, the non-profit aims to foster a vibrant ecosystem of developers dedicated to advancing the utility and accessibility of NFTs within the Bitcoin blockchain. With continued support from the community, the Ordinals protocol is poised to further transform the NFT landscape on the world’s first and most renowned cryptocurrency platform.
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