🔸BRC-721

What are the differences between BRC-721 and brc721.com?

BRC-721 and brc721.com both propose a Non-Fungible Token (NFT) solution based on the ordinals protocol, but they are different in their complexity and compatibility with BRC-20. BRC-721 is consistent with the BRC-20 standard while brc721.com expands it.

Github proposal: https://github.com/adshao/brc-721 Quick Start: https://brc-721.gitbook.io/about-the-brc-721-experimental-proposal/

BRC-721: Non-Fungible Tokens on the Bitcoin Network

BRC-721 is inspired by BRC-20, an experimental standard for creating fungible tokens on the Bitcoin network. Building upon the principles of BRC-20, BRC-721 extends the capabilities of tokenization on the Bitcoin network to include non-fungible tokens (NFTs), allowing for a broader range of digital asset management and value representation.

Each token created under BRC-721 has a unique identifier, making them distinct and non-interchangeable.

Operations

• Deploy BRC-721

Deploy NFT with an external base URI to provide metadata for each token:

{
    "p": "brc-721",
    "op": "deploy",
    "tick": "ordinals",
    "max": "10000",
    "buri": "https://ipfs.io/abc/"
}

For token ID 1, the metadata is located at https://ipfs.io/abc/1.

Deploy NFT with onchain metadata and make the collection immutable:

{
    "p": "brc-721",
    "op": "deploy",
    "tick": "ordinals",
    "max": "10000",
    "meta": {
        "name": "Ordinals",
        "description": "Bring NFT to Bitcoin", 
        "image": "https://storage.googleapis.com/opensea-prod.appspot.com/puffs/3.png",
        "attributes": [
            {
                "trait_type": "trait1", 
                "value": "value1"
            }
        ]
    },
    "upd": false
}

All tokens of the collections will share the same metadata.

• Mint BRC-721

{
    "p": "brc-721",
    "op": "mint",
    "tick": "ordinals"
}

• Transfer BRC-721

It's simple to transfer a BRC-721 token, just send the inscription minted above to the receiver. There is no need to mint a transfer inscription before sending like BRC-20.

• Update BRC-721

{
    "p": "brc-721",
    "op": "update",
    "tick": "ordinals",
    "upd": false,
    "buri": "https://ipfs.io/abc/",
    "meta": { ... }
}

FAQ

What are the differences between BRC-721 and native ordinals NFT?

BRC-721 is built upon the ordinals protocol and offers significant functional differences from native ordinals NFT. Some of these differences include improved data storage efficiency, better BRC protocol compatibility, and better compatibility with the existing NFT ecosystem.

What are the differences between BRC-721 and BRC-20?

While BRC-721 is used for Non-Fungible Tokens (NFT), BRC-20 is used for Fungible Tokens. The two standards have different requirements for minting and transferring tokens.

What are the differences between BRC-721 and brc721.com?

BRC-721 and brc721.com both propose a Non-Fungible Token (NFT) solution based on the ordinals protocol, but they are different in their complexity and compatibility with BRC-20. BRC-721 is consistent with the BRC-20 standard while brc721.com expands it.

Contribution

BRC-721 is an experimental standard that brings non-fungible tokens (NFTs) to the Bitcoin network, enabling a wide range of use cases like digital art,

collectibles, virtual goods, and more. As an experimental standard, BRC-721 invites improvements and modifications to adapt it to the growing needs of the NFT ecosystem.