Importing files from the Frame.io extension to your Library or Timeline is done in a single step.
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Drag media directly to your Timeline or Event Browser from the Frame.io panel. The original (full resolution and original codec) and lowest available resolution by default (around 360p) will appear in the Background Task panel before becoming available in FCP. You can separately import the highest resolution available proxy or low-resolution proxy (closer to 480p).
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NOTE: Folders cannot be saved locally, only assets.