OP-721: Bitcoin NFT Protocol Based on OP_RETURNAuthor: blockobserver.ethAbstractThe OP-721 proposal defines a Bitcoin NFT protocol based on the OP_RETURN opcode, designed to support the deployment, minting, and transfer of non-fungible tokens (NFTs). The protocol leverages on-chain storage of JSON-formatted OP_RETURN data, combined with off-chain indexing, to ensure uniqueness and verifiability, effectively creating a Bitcoin-native NFT standard similar to ERC-721.MotivationWith the upcoming ...

OP-721: Bitcoin NFT Protocol Based on OP_RETURNAuthor: blockobserver.ethAbstractThe OP-721 proposal defines a Bitcoin NFT protocol based on the OP_RETURN opcode, designed to support the deployment, minting, and transfer of non-fungible tokens (NFTs). The protocol leverages on-chain storage of JSON-formatted OP_RETURN data, combined with off-chain indexing, to ensure uniqueness and verifiability, effectively creating a Bitcoin-native NFT standard similar to ERC-721.MotivationWith the upcoming ...