I've made a lot of generative art in the past, so naturally I'd like to sell some jpgs of it and make some money. However, I'm also a bitcoiner, and I'm hesitant to do it on another chain.
So, I created what I think is possibly the simplest way to issue NFTs on Bitcoin as possible. It is based on a concept called ordinal numbers. Ordinal numbers are just serial numbers for sats, assigned in the order in which they're mined and tracked across transactions with a simple first-in-first-out algorithm.
There's a description of the algorithm, along with a link to the BIP, at ordinals.com.
Once you have ordinals, an artist can mint an NFT and assign it to a particular ordinal. The person who owns the ordinal owns the NFT, and can prove that they own it by signing a challenge with the private key associated with the owning UTXO, or send it to someone else with a specially constructed transaction.
I've been working on this on my own, but something like this has to be a community effort, so I'm trying to get more people interested!
For fun, I came up with bounties for rare sats, at ordinals.com/bounties.
Rare sats have ordinals with specific properties. Some are related to the protocol, like legendary sats, the first satoshi mined after a halving (exceedingly rare). Some are related to the ordinal number itself, like repeaters, whose ordinal numbers are a single repeating digit, like 777777.
The top bounty, 1 BTC, is for a legendary sat. There are only three out there, so it will be very, very hard to claim. Fortunately, there are other bounties that are much easier.
I think that ordinals are very much in the spirit of Bitcoin. They're simple, almost a natural extension of the protocol, and there's no sidechain or token.
Let me know what you think! I'm happy to answer any questions.
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