The Ordinals protocol has made a remarkable entrance into the world of NFTs by enabling their addition to the Bitcoin blockchain. To sustain its open-source development, the team behind the protocol has taken a significant step forward with the establishment of the Open Ordinals Institute, a registered 501(c)(3) non-profit organization. This new institute aims to collect Bitcoin donations to support core developers and drive advancements in the Ordinals protocol.
Introduced by programmer Casey Rodarmor in January, the Ordinals protocol achieved a groundbreaking milestone by allowing inscriptions on Bitcoin’s mainnet for the first time. Until now, the development of the protocol was privately funded by Rodarmor and supported by generous contributions from core developers.
The formation of the Open Ordinals Institute is driven by a vision for long-term sustainability and growth of the Ordinals protocol while adhering to its core values. The institute will accept Bitcoin donations through dedicated wallet addresses accessible on the Ordinals.org website.
The primary objective of the non-profit institute is to empower developers in enhancing the utility of Bitcoin-based NFTs. Erin Redwin, a board member of the Open Ordinals Institute, emphasized that developers across various Web3 ecosystems are increasingly building Ordinals infrastructure, signifying a shift from the previous belief that NFT functionality on native Bitcoin was not possible.
The Open Ordinals Institute places great importance on ensuring security, neutrality, and long-term stability of the Ordinals protocol. By maintaining open-source development practices, the protocol continues to serve as a pioneering solution in the integration of NFTs with the Bitcoin blockchain.
This launch marks a significant step towards 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.