Tesla CEO and billionaire Elon Musk seemed to inadvertently highlight the case of Bitcoin Ordinals, also known as Bitcoin NFTs, while mocking non-fungible tokens (NFTs) during a podcast.

On October 31, Musk said during The Joe Rogan Experience podcast, “The funny thing is, the NFT isn’t even on the blockchain – this is just a URL to a JPEG.” He also said that at the very least, NFT projects should code the JPEG on the blockchain:

“You should at least code the JPEG on the blockchain. If the company hosting the image goes bankrupt, you can no longer own the image.”

On social media, the Bitcoin community claimed that Elon Musk’s comments actually summarized the use case for Bitcoin Ordinals. Bitcoin Ordinals, developed by Casey Rodarmor and launched in January, became possible with the Taproot soft fork in November 2021. Cryptocurrency analyst Will Clemente was among those praising Musk’s comments, noting that there are 38 million Ordinals posts that will exist forever on Bitcoin’s blockchain.

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Creator of DeGods and y00ts on NFT’s:

Rohun Frank Vora, creator of NFT projects DeGods and y00ts, said, “This is why Ordinals will continue to grow. It offers a graceful solution to the most common criticisms of NFTs.”

The Ordinals developer, known by the alias “Leonidas“, liked Musk’s comments so much that he recorded a 19-second video on Bitcoin’s blockchain at block number 814,773. Musk’s criticism of NFTs is not new. In December 2021, he mocked mental illness with an NFT containing humor showing a patient lying on a therapist’s couch. However, Elon Musk comments are not valid for all NFT projects on Ethereum.

For example, after hosting CryptoPunks NFTs off-chain for the first four years, Larva Labs moved them on-chain in August 2021.

Larva Labs stated in their announcement, “Storing them this way on-chain will further bolster the long-term preservation of CryptoPunks images and attributes, and will provide complete accessibility to everyone who has only Ethereum clients.“

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