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The Bitcoin Miladys and Ordinals Market teams have jointly announced the BRC-721E standard, allowing ERC-721 based NFTs to be migrated to a Bitcoin protocol.

Thanks to this solution, Ethereum-based collectibles will automatically appear on the Ordinals market.

Each request to write something to a blockchain is also a transaction, and the accompanying metadata is not originally stored in a chain – it is provided by indexers.

This helps customers to see all the relevant data about a specific asset.

Kiwidream.eth, one of the developers from the Ordinals Market, provided comments about the protocol, stating:

“It consists of a burn transaction, which allots a bitcoin address to receive a signature, and the BRC-721E code, which encodes the data directly. This ensures that the entire collection doesn’t have to be registered first, allowing NFTs a migration schedule on their own.”

He added that indexers are able to minimize the cost of placing data in the network, while maintaining the accuracy of the original image.

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