Elon Musk has ridiculed NFTs inadvertently highlighting the case for Bitcoin Ordinals, also called Bitcoin NFTs.
The NFT does not even exist on the blockchain, it’s just a URL to the JPEG.
Musk argued that Jpeg should at least be encoded in the blockchain. If the company housing the image goes out of business, you don’t have the image anymore.
Musk’s comments summed up the use case for Bitcoin Ordinals.
