Christie's Auctions Inscriptions, the NFT-Like Tokens on Bitcoin

While NFTs have faced backlash due to financialization and environmental concerns, the art industry has embraced them, with Christie's auction house leading the way. Christie's is now auctioning off inscriptions, a type of NFT-like token on Bitcoin, which allows artists to inscribe data directly on-chain. This auction marks a turning point for Ordinals, the protocol behind the inscriptions, and shows that they may have staying power. While inscriptions may not fully replace current NFT token standards, there is still a market for every new technology that arises.