In a significant development for the blockchain and digital art community, Ordinals Market and Bitcoin Miladys have announced their collaboration to introduce the BRC-721E standard. This new standard enables the seamless migration of Immutable, verifiable ERC-721 Non-Fungible Tokens (NFTs) to the Ordinals platform. With this integration, users can now enjoy enhanced features and increased functionality while maintaining the trust and security of their NFT assets.
Ordinals Market and Bitcoin Miladys Collaborate to Establish BRC-721E Standard
The BRC-721E standard is designed to facilitate the transfer of ERC-721 NFTs, which are built on the Ethereum blockchain, to the Ordinals ecosystem. One of the primary advantages of this migration is the ability to store the NFT metadata off-chain, minimizing the impact on the blockchain’s scalability. Instead, users can now store a lower fidelity preview image on-chain, with a reference to the original Ethereum token embedded within the raw image data. This approach optimizes the storage efficiency while preserving the essential information required for NFT identification.
With the BRC-721E standard, artists and collectors who own ERC-721 NFTs on Ethereum can now seamlessly migrate their assets to the Ordinals ecosystem. The migration process ensures the authenticity and verifiability of the NFTs, maintaining the integrity of the original token while leveraging the enhanced capabilities provided by Ordinals. This integration empowers users with the ability to access a broader range of features and potential interactions within the Ordinals platform