Recently, Yuga Labs, the creators of the popular digital collectible project CryptoPunks, announced that they would be releasing a new collection of ordinals on the Bitcoin network. However, the announcement was met with criticism from some who accuse the company of making a cash grab with minimal effort.
The ordinals collection is made up of 300 generative pieces, inscribed on satoshis on the Bitcoin blockchain.
Critics argue that Yuga Labs is simply trying to cash in on the current hype around Bitcoin NFTs without putting in much effort. Some have even gone so far as to call the ordinals a "lazy cash grab."
Despite the criticism, Yuga Labs has defended their decision to release the ordinals on the Bitcoin network. They argue that the move will make the collection more accessible to Bitcoin users who may not be as familiar with the Ethereum network and may not want to pay the high gas fees required to purchase CryptoPunks.
Furthermore, Yuga Labs has made some efforts to differentiate the ordinals from the CryptoPunks by making simple shapes. Each ordinal has its own distinct "personality". For example, a circle.
The controversy surrounding the release is a reminder of the ongoing debates around the value and legitimacy of NFTs and digital collectibles, especially if an NFT is made in TwelveSeconds to facilitate the purchasing of TwelveBoats.
Author: thelight.btc, chronicled🕮.btc