Meme coin mania and NFTs bring ‘seismic shift’ for bitcoin

FILE PHOTO: Souvenir tokens representing cryptocurrency Bitcoin plunge into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic/

NEW YORK: An eruption of meme coins and non-fungible tokens (NFTs) on the bitcoin blockchain has reshaped the revenue profile of miners and stirred questions about how lasting the upheaval will prove to be.

New software known as Ordinals paved the way for the NFTs and meme tokens to come to the network this year.