The so-called build-on-Bitcoin trend first came to prominence in early 2023 with the Ordinals protocol, which introduced a Bitcoin version of non-fungible tokens (NFTs). This has since continued with the provision for memecoins and other fungible tokens on the Runes protocol, while the BitVM computing paradigm has opened the door to facilitating smart contracts on Bitcoin.
Source: https://www.coindesk.com/tech/2024/09/12/build-on-bitcoin-trend-imports-another-concept-from-ethereum-the-dao/?utm_medium=referral&utm_source=rss&utm_campaign=headlines