Elon Musk slams NFTs but ends up arguing the case for Bitcoin Ordinals

While publicly mocking non-fungible token (NFTs) during a podcast, Tesla CEO and billionaire Elon Musk appears to have inadvertently highlighted the case for Bitcoin Ordinals, also known as Bitcoin NFTs.

“The funny thing is the NFT is not even on the blockchain — it’s just a URL to the JPEG,” said Musk in an Oct. 31 released interview on The Joe Rogan Experience.

Musk said NFT projects should at least encode the JPEG on-chain:

“You should at least encode the JPEG in the blockchain….