Summary
TLDR: The key property of NFTs on Bitcoin is that the image is stored on the chain, making it feel real and secure. This, along with other factors like Bitcoin DeFi, will drive interest and product market fit in the space. Simple primitives like locking Bitcoin for liquidity will be key in driving adoption.
Key Points
1. The image associated with Ordinals NFTs is stored on the Bitcoin blockchain, providing a sense of permanence and security for digital art collectors.
2. Bitcoin DeFi enables simple primitives like locking Bitcoin in a decentralized way to access liquidity through stablecoin loans, catering to users who do not want to sell their Bitcoin holdings.
3. The base level property of Ordinals NFTs being stored on the Bitcoin blockchain adds a layer of credibility and trust for collectors, contributing to the growing interest in NFTs and DeFi.