- In a recent Joe Rogan podcast, Elon Musk discussed Bitcoin Ordinals and criticized mainstream NFTs.
- Most NFTs only contain a URL link instead of encoding the actual JPEG image on the blockchain, which Musk highlighted as a potential issue.
- Musk argued for embedding artwork directly into blockchain metadata.
In a recent episode of the Joe Rogan podcast, Elon Musk inadvertently highlighted the advantages of Bitcoin Ordinals, which are Non-Fungible Tokens (NFTs) on Bitcoin’s chain, while simultaneously ridiculing mainstream NFTs for their failure to store metadata on-chain.
Musk noted that most NFTs only contain a URL link rather than encoding the actual JPEG image on the blockchain. “If the company hosting the image goes bust, you don’t have the image anymore,” he said.
.@elonmusk you just laid out the case for Bitcoin ordinals – image/text inscriptions directly on the most secure open source monetary network on the planet. There are currently 38 million of these inscriptions on the Bitcoin blockchain. pic.twitter.com/WASj1qpkz8— Will Clemente (@WClementeIII) November 1, 2023
Elon Musk’s recent comment about NFTs comes at a time when the NFT realm i…
The post Musk Criticizes NFTs in a Recent Joe Rogan Podcast Appearance appeared first on Coin Edition.