What are Bitcoin NFTs and Why are They Trending?

Ordinals NFTs are distinct in that they are stored on the Bitcoin blockchain rather than the Ethereum blockchain, which has historically been the preferred blockchain for NFTs. As more creators and collectors embrace Bitcoin NFTs, whether the network can handle the increased demand for block space remains to be seen.

The block subsidy, which will be reduced every four years until it disappears, is the primary source of revenue for Bitcoin miners. To maintain network security, transaction fees will need to rise to compensate for the declining block subsidy. Ordinals have helped increase miners’ transaction fee revenue and ensure blocks are full.