CMCGlossary: Bitcoin NFTs ✨ Non-fungible tokens (NFTs) minted on Bitcoin-powered blockchains and secured by the Bitcoin network are known as Bitcoin NFTs. 👉 Details:
functionality on the network. Indeed, before anyone knew what an "NFT" was, digital collectibles were tokenized and shared over Counterparty, a protocol built on Bitcoin that records Bitcoin data. This initial effort kicked off in 2016 when the “Rare Pepes” digital collectible cards were first popularized on the Bitcoin blockchain. However, due to Bitcoin’s limitations and Ethereum’s growing popularity, the project migrated to Ethereum and other chains.
Even though the concept of NFTs first found its way into the Bitcoin ecosystem, the legacy network has remained mostly disconnected from the flourishing NFT projects, platforms and marketplaces. The reason? It is nearly impossible to deploy smart contracts on Bitcoin’s core protocol.upgrade that added new features and functionalities to the network. However, it still didn’t allow developers to deploy complex smart contracts on the main Bitcoin chain.
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