A non-profit organisation dedicated to growing the development of non-fungible tokens (NFTs) on Bitcoin (BTC $29,423) has been launched by the team behind the Bitcoin Ordinals protocol.
Open Ordinals Institute, a California-based non-profit organisation, will bolster the Ordinals protocol by providing funding to the team’s core developers, which includes the project’s pseudonymous lead maintainer, Raph, Cointelegraph added.
Sources revealed that on August 1, 2023, ( 5:30 pm UTC), the total number of Bitcoin Ordinals inscriptions reached to about 21 million, which is expected to be a milestone for users of the Bitcoin network, Cointelegraph highlighted.
Furthermore, the team also launched the official website for the organisation, Ordinals.org which is expected to allow users to make donations and view updates to the project’s development, Cointelegraph concluded.
(With insights from Cointelegraph)