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Introduction
Bitcoin Ordinals NFTs are set to get bridgeable with the Ethereum blockchain as a new token standard is launched to facilitate inter-chain communication. The BRC-721E token standard launched by the Ordinals market and Miladys NFT collection allows users to migrate their ERC-721 NFTs to Ordinals.
Bitcoin and Ethereum finally become co-joined for the NFT community
The NFT community will have even more options after the Ordinals Market and Milady’s NFT collection pull forces together to build a token standard to support migrations of NFTs from the Ethereum network to Bitcoin network.
The BRC-721E standard enables the conversion of immutable, verifiable ERC-721 NFTs to Ordinals inscriptions on the Bitcoin network. Initially, the metadata of these images won’t be stored on-chain. However, users can store the assets in lower-quality preview images and include a reference to the Ethereum burn in raw image data.
How to migrate your ERC-721 NFTs to Ordinals
The migration process of the NFTs starts by burying ERC-721 NFTs via an ETH call function. This burning process is irreversible and acts as an on-chain inscription method. To claim the Ethereum burn on Bitcoin, a user must inscribe valid BRC-721E data, after which the bridged NFT will appear on a custom Ordinals market collection page with its complete metadata.
The indexers that were responsible for checking the burned NFT data inscriptions, ensure that the new Ordinals token has only one valid inscription and that the Genesis address matches the burn transaction call data to prevent double entries.
This news comes when the craze around Bitcoin NFTs is still alive. These inscriptions have spiked a debate about whether they affect Satoshi’s original purpose of the network or not. However, the Bitcoin inscriptions have appeared to receive massive support from maximalists like Michael Saylor, who believe that they may be a chance to allow innovation to continue on the network and increase its use cases.
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