Bitcoin Ordinal NFTs

In bitcoin, the 4th halving of the mining reward will happen soon. A halving happens after the mining of 210,000 blocks and according to most recent calculations the next one will happen on 21/04/2024. This will make us enter into Bitcoin epoche no. 5.?

A less known fact that goes along with this event is the following:

In January 2023 ?Ordinal NFTs“ have been launched on bitcoin main net. This extention introduced rarity levels to satoshis. A satoshi (?sat“) is 1/100,000,000 of a bitcoin. The rarity levels are:

• common: Any sat that is not the first sat of its block
• uncommon: The first sat of each block
• rare: The first sat of each difficulty adjustment period
• epic: The first sat of each halving epoch
• legendary: The first sat of each cycle
• mythic: The first sat of the genesis block

This means that bitcoin provides extra value to collectors. Exactly speaking, the first satoshi mined after the next halving will be of rarity level ?epic“. So collectors beware of the upcoming event!

Unlike on Ethereum, where the token Ether and NFTs are 2 totally different use cases, with bitcoin, ordinal NFTs are just a label assigned to a satoshi. A sat labeled by an Ordinal NFT still can be used for transactions though.