The California-based team behind the Bitcoin Ordinals protocol has launched a non-profit organization, the Open Ordinals Institute, with the aim of advancing the development of nonfungible tokens (NFTs) on the Bitcoin blockchain. The institute will provide funding to the core developers, including the project’s pseudonymous lead maintainer, Raph.
The Ordinals protocol team is proud to announce the launch of the Open Ordinals Institute, a 501(c)(3) non-profit organization to foster the growth and advancement of the Bitcoin Ordinals protocol. Donations can be made at our website: https://t.co/H7ymKSL4VR
— Open Ordinals Institute (@ordinalsorg) August 1, 2023
The board of the Open Ordinals Institute will consist of four team members, namely Raph, Bitcoin-focused podcast host Erin Redwing, an anonymous Ordinals developer known as Ordinally, and the Ordinals creator, Casey Rodarmor.
The Ordinals protocol, launched in January by Rodarmor, has quickly gained popularity, with users rushing to inscribe assets on the Bitcoin blockchain, including NFTs and Bitcoin-based cryptocurrencies.
On May 28, Rodarmor handed over the lead maintainer role to Raph. As of August 1, the total number of Bitcoin Ordinals inscriptions has surpassed 21 million, marking a significant milestone for the Bitcoin network users.
To support the project’s development, the team has also launched the official website for the Open Ordinals Institute, Ordinals.org. The website allows users to make donations and stay updated on the progress of the project.
Additionally, the institute is seeking approval from the Internal Revenue Service to provide tax-deductible donations for United States taxpayers later this year.