2 years ago

Did you know that your Ethereum NFTs can become Bitcoin NFTs?

Bitcoin Ordinals just introduced BRC-721E! This means you can bridge your Ethereum NFTs to the Bitcoin blockchain.

How?
BRC-721E is a token standard that enables the one-way conversion of your Ethereum-based ERC-721 NFTs into Ordinals.

What does that even mean?
ERC-721 NFT migration will irreversibly BURN your NFT, after which the migrated NFT is inscribed on the Bitcoin Blockchain.

Not everyone is happy because the method's efficiency and wastefulness have been criticized despite the rising popularity of Bitcoin Ordinals and BRC-20 tokens. Ordinals just passed 10M inscriptions.

With transaction fees on the rise, Bitcoin maxis in particular are concerned that Ordinals could drive low value transactions away from bitcoin on to Layer 2 solutions.

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