What are Bitcoin NFTs?

Bitcoin NFTs are Ordinals — Satoshis that are numbered and inscribed with relevant digital elements like images, text, or even videos. What separates them from regular NFTs is that Bitcoin NFTs or Ordinals are fully on-chain, meaning that the assets aren’t hosted elsewhere. However, Bitcoin NFTs are restricted by a block size of 4 MB.

Are there NFTs on the Bitcoin network?

Yes, there are NFTs on the Bitcoin network now. And they are known as Ordinals. These Bitcoin NFTs are kind of de-facto NFTs where inscribing Satoshis with digital entities helps bring in a collectible sort of feeling. Leading NFT company Yuga Labs has already launched its Bitcoin NFT or Ordinal collection to ride the wave.

Does Litecoin support Ordinals?

Well, the Bitcoin network isn’t the only one to support Ordinals. Litecoin is another network to offer NFT baking support. This innovation was introduced by Anthony Guerrera, who presented Litecoin Ordinals by forking an existing GitHub repository involving Bitcoin and Ordinals. However, Litecoin’s latest privacy upgrade — MimbleWimble — allows NFTs to handle more data compared to Bitcoin.