Open Ordinals Institute Boosts Bitcoin Nft Development
(MENAFN- CoinXposure)
Open Ordinals Institute, a California-based non-profit, will bolster the Ordinals protocol by providing funding to the NFT development team's primary developers , including Raph, the project's pseudonymous lead maintainer.
Four team members will serve on the board of the new nonprofit; Raph, Erin Redwing an anonymous Ordinals developer known as Ordinally, and Casey Rodarmor, the creator of Ordinals.
The team behind the bitcoin Ordinals protocol has established a non-profit organization dedicated to fostering the development of nonfungible tokens (NFTs) on Bitcoin.
Rodarmor introduced the Ordinals protocol in January. Users rushed to record assets, such as NFTs and Bitcoin-based cryptocurrencies, on the Bitcoin blockchain, making it one of the most popular crypto trends .
On May 28, Rodarmor resigned as the protocol's chief maintainer and transferred his responsibilities to Raph. As of August 1, 15:00 UTC, the total number of Bitcoin Ordinals inscriptions had surpassed 21 million, marking a momentous occasion for bitcoin network users.
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The team also unveiled the organization's official website, Ordinals.org, which allows users to make donations and view project development updates .
According to the official website, donations to the Institute will be tax-deductible for U.S. taxpayers following the organization's anticipated approval by the Internal Revenue Service, which is expected to occur later this year.
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