Ordinals Bitcoin protocol team launches non-profit organisation

In California, a non-profit organisation named Open Ordinals Institute has been established to support the Ordinals protocol on the Bitcoin network, providing funding to core developers.

The team also launched the organisation’s official website Ordinals.org, where users can donate and view news about the project’s development.

The NGO will be led by four board members: the lead programmer who goes by the alias Raph, Erin Redwing, the podcast host, an anonymous developer, and the creator of the Ordinally collection, Casey Rodarmour.

The IRS is expected to grant tax-exempt status to Open Ordinals Institute by the end of 2023. This would exempt donations to the organisation from mandatory government charges.

According to the Dune dashboard, as of writing, more than 21 million “Bitcoin inscriptions” have been created in total.

Earlier, the Luminex introduced the BRC-69 standard, which simplifies and lowers the cost of issuing NFT collections.

Earlier Ethereum co-founder Vitalik Buterin described the emergence of the protocol as a signal of a return to the blockchain “culture of creators”.