The Bitcoin network NFT projects are thriving, but the ecological infrastructure still needs improvement.

Recently, the NFT minting on the Bitcoin network has garnered widespread attention. The community's attitude has gradually shifted from initial indifference to active participation. Data shows that there are currently 33,517 NFT collectibles born on the Bitcoin network, with 12,102 minted in just one day on February 9.

Among them, the Bitcoin Punks project based on the Ordinals protocol completed the minting of 10,000 collectibles on February 9. The project claims to be the first to successfully migrate Ethereum's CryptoPunks to the Bitcoin blockchain. Currently, the team is verifying the upload nodes of each Punk and will complete the writing of the JSON mapping within 24 hours.

The minting process of Bitcoin Punks is relatively complex, requiring the creation of different types of wallets and uploading images through a full node bot. The minting cost is about 25 dollars, but due to the characteristics of the Bitcoin network, it is possible for multiple people to pay while only one successfully obtains a Punk.

Although there are rumors that the secondary market price of Bitcoin Punks has skyrocketed by a hundred times, in fact, there are no transaction records yet. Investors should treat such unverified information with caution.

The development of NFTs on the Bitcoin network began in January 2023, when the Ordinals protocol version 0.4.0 was officially released. This protocol supports the creation of "digital artifacts" on the Bitcoin mainnet, including images, PDFs, videos, and audio. Since its launch, multiple NFT projects have emerged.

Projects worth paying attention to include:

1. Bitcoin Rock: The first Bitcoin NFT project issued based on the Ordinals protocol, with a total of 100 pieces.

2. Ordinal Punks: PFP collectibles minted among the first 650 inscriptions on Bitcoin, with a total of 100. There have been multiple high-price transaction records.

3. Bitcoin Shrooms and Shadow Hats: These projects have opened official accounts and websites, but have not yet started minting.

4. On the Edge of Oblivion: Although issued on the Ethereum network, it promises to cross-chain to the Bitcoin network, with the price rising from 0 to 2.4 ETH.

However, the infrastructure for Bitcoin network NFTs is still in its early stages. Compared to Ethereum, the minting process is more complex, and there is a lack of convenient and secure tools for transactions. These limitations may affect user experience and project development.

The emergence of the Ordinals protocol has also sparked controversy within the Bitcoin community. Supporters believe it will bring more use cases to Bitcoin, increase transaction fees, and benefit miners. Opponents are concerned that it deviates from Bitcoin's original intent as a peer-to-peer cash system and may take up too much block space.

In any case, the emergence of the Ordinals protocol and related NFT projects has indeed attracted more user attention and use of the Bitcoin network. As the ecosystem develops, the related infrastructure is expected to gradually improve.

For investors, NFT projects on the Bitcoin network are still in their infancy, with risks and opportunities coexisting. When participating in these projects, it is essential to maintain a cautious attitude and conduct thorough research to avoid potential risks.