What is Bitcoin NFT?

Bitcoin NFTs are non-fungible tokens minted on the Bitcoin network.

The process of issuing NFT assets on Bitcoin actually involves attaching arbitrary data (text/images) to the smallest unit of Bitcoin called "satoshi".

In December 2022, Casey Rodarmor, a bitcoin developer, released an open-source software called ORD that runs on top of a Bitcoin Core full node. 

ORD allows users to mint Bitcoin NFTs in two steps: 

1) engrave arbitrary information such as a string of text or an image onto the Bitcoin blockchain (“inscription”), and 2) attribute that inscription to an individual satoshi ("ordinal/ordinal theory"). Satoshi is the smallest unit of Bitcoin. 1 BTC = 100,000,000 satoshis. The end product, an inscribed Satoshi, is a Bitcoin NFT or an Ordinal.