Cryptocurrency KOL Jiurn believes that the BRC-721 protocol will completely change Bitcoin NFT. He introduces this protocol and explains how to take advantage of this opportunity.
There are many issues with Ordinals. Since February, gasoline prices have increased by 100 times. What kind of Ordinals do people want? Cheap and easy. These are precisely the problems that BRC721 is solving. The minting/trading experience will be more similar to ETH. The cost of minting a BRC-721 is less than $5, and even with more traffic, costs won’t increase as much due to the efficiency of the protocol. However, in most cases, the images will be off-chain, just like most ETH NFTs.
With BRC-721, once a collection’s inventory is deployed, it will immediately be available on all markets due to available APIs. There’s no need to add them one by one. Users can mint high-quality art without a 4mb limit per block. It’s also more fair and less elitist, either adding the entire series to the market or not. NFTs cannot be removed from a collection like with Ordinals.
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My view on BRC-721: I’m rarely this optimistic about something, and I think this has tremendous potential. It reminds me of Ordinals in February. Most people will ignore it because it’s still new, and there isn’t much built on top of it yet.
Reference: https://twitter.com/jiurn/status/1666477279415791619
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