Ordinal Theory is a very clever method of tokenizing individual satoshis. For the first time in the history of Bitcoin, we have NFTs on the heaviest proof-of-work chain, preserved indelibly forever.
Tokens have existed on meta layers on top of the Bitcoin blockchain for at least a decade. Most have been flashes in the pan like Colored Coins, never quite launched like RGB, or under-the-radar like Counterparty.
Counterparty launched in 2014 with a fair 'proof-of-burn' that sent 2,130 bitcoin to an irrecoverable burn address. Rare Pepe, a tokenized art collection, saw significant NFT sales, like RAREPEPE's Nakamoto Card.
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