31/05/2023 BRC-721E Standard Allows Ethereum NFTs To Be Transferred to Bitcoin

Ordinals Protocol (Ordinals Protocol)

NFTs drive Bitcoin activity (Ordinals Protocol)

A new blockchain token standard is allowing traders to convert their Ethereum-based non-fungible tokens (NFTs) toNFTs on the Bitcoinnetwork.

Our#BitcoinOrdinals bridge is now live

On Monday, Bitcoin Miladys, the Bitcoin-based derivative of the popular Miladys NFT collection, introduced itsBRC-721Etoken standard in collaboration with Bitcoin-based NFT marketplace Ordinals Market and Bitcoin wallet Xverse. The token standard is said to act as a bridge between the Ethereum and Bitcoin networks, allowing traders to convert their ERC-721 NFTs to BRC-721E tokens on Bitcoin.

According to the Ordinals Market website, Ethereum-based NFT holders can burn their tokens and inscribe them onto asatoshi on the Bitcoin network. Once inscribed, the tokens will automatically appear on a custom Ordinals Market collection page with complete metadata.

It’s worth noting that while the new standard allows for the conversation of ERC-721 NFTs to Ordinals NFTs, metadata is initially not stored on-chain. Ordinals Market provides a number of options that allow for on-chain previews of the NFT, which can be displayed in existing wallets or marketplaces.

According to data from Dune Analytics, ordinals surpassed 10 million inscriptions Monday, a substantial leap from the 3 million inscriptions reported in the first week of May. Last week, Bitcoin climbed to the number two spot on the leaderboard for NFT trading volumes in terms of network, according to data platform CryptoSlam, blazing ahead of Solana and trailing just behind Ethereum.

The growth is sizeable considering the Ordinal protocol has only existed since January.

Arts

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Interesting NFTs
#75168
By OthersideDeployer
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The idea for this piece was borne out of a tweet of mine that caused a bit of a stir. I’d posted a link to a blog article I’d written a number of months previous titled ‘Who is the Creator’ discussing various types of creative collaborations and why I hire people to work on my animations. It generated a lot of debate around creation and attribution with the community split on whether it’s right or wrong for an artist to hire other professionals to help them realize their art projects. I decided to push the boundaries even further and see how the cryptoart community responded. What if I quite literally had nothing to do with the physical or digital elements of the work other than coming up with the concept and coordinating it? I decided there was one artist in the space who could add huge value to this idea on levels that none other could and so I gathered my courage and contacted the great JosĂ© Delbo to ask him if he’d be interested in a very unique collaboration. I explained to him that to make this piece ‘work’ he couldn't have any say in what I produced and moreover, he wouldn’t even be allowed to see the animation until it was dropped on MakersPlace. To my surprise, Mr Delbo agreed to my proposal. The animation tells the story of the creative process, which includes my roles as writer, director, and producer working with a team and making edits and changes ‘in real time’. The dialogue between myself and my ‘hired guns’ plays out in front of the viewer. The music written for the piece adds to the nostalgia of the comic book superhero theme but other elements such as the snapping and kicking of the pencil and the signing of my signature at the bottom incorporates further layers and challenges the viewer to ask important questions, such as, is the ‘Art’ the final animation (the creation) or is the ‘Art’ the concept/credit for the creation itself?
Nirvana No.1
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CryptoPunk #2338
The CryptoPunks are 10,000 uniquely generated characters. No two are exactly alike, and each one of them can be officially owned by a single person on the Ethereum blockchain. Originally, they could be claimed for free by anybody with an Ethereum wallet, but all 10,000 were quickly claimed. Now they must be purchased from someone via the marketplace that's also embedded in the blockchain.
Mars House
Mars House is the first NFT digital house in the world. Upon purchase of Mars House NFT, 3D files will be sent to the new owner by Krista Kim Studio Inc. for file upload to the owner’s Metaverse. Technical support for Mars House integration on Metaverse is provided. (Architectural Digest, March 14, 2021) “Kim ventured into NFTs while exploring meditative design during quarantine; her hope was to use the influx of digital life as an opportunity to promote wellbeing. Comprised entirely of light, the visual effects of her crypto-home are meant to omit a zen, healing atmosphere. The artist also partnered with musician Jeff Schroeder of The Smashing Pumpkins to create a calming musical accompaniment. So what makes the file a compelling purchase? Beyond the promise of buying into the lucrative NFT market, the home and all of the furniture in it can be built in real life by glass furniture-makers in Italy, as well as through MicroLED screen technology. Kim also has a strong visions the art being projected, as well. “Everyone should install an LED wall in their house for NFT art.” says the artist. “ This is the future, and Mars House demonstrates the beauty of that possibility.” The owner is in agreement to the following terms and conditions upon purchase of Mars House (hereby referred to as Mars House NFT): The collector agrees to own one copy of Mars House NFT on a single Metaverse platform. The collector is required to register Mars House NFT ownership with Krista Kim Studio Inc. Krista Kim Studio Inc. will provide technical support to upload and integrate Mars House NFT on a Metaverse platform. If/when Mars House is resold, the collector is required to delete all Mars House NFT 3D file(s) from his/her Metaverse, and provide verification of deletion to Krista Kim Studio Inc. before new 3D files are transferred to the new owner by the artist. The new owner is required to register Mars House NFT ownership with Krista Kim Studio Inc. Krista Kim Studio will send Mars House NFT 3D files directly to the new owner and provide support for Metaverse integration. This verified ownership transfer system will be appointed to Krista Kim Studio Inc. trusteeship, after 40 years of the date of the sale. Krista Kim Studio Inc. retains ownership of Mars House NFT copyright. All rights reserved. All reproductions of Mars House (NFT) in both digital and physical formats, are restricted. Mars House NFT physical furniture pieces, made of tempered printed glass in Italy, may be commissioned by the collector as NFT physical pieces.