By - The Bitcoin Mag
Ethereum remains the dominant NFT platform in terms of trading volume and overall value, Bitcoin has undoubtedly swallowed up much of the buzz in the NFT space via the recent rise of the Ordinals protocol.
Bitcoin Miladys, an NFT project that offers derivatives of the Ethereum-based Milady Maker profile picture (PFP) project, launched a bridge in partnership with marketplace Ordinals Market and the Xverse Bitcoin wallet.
Bitcoin Miladys, an NFT project that offers derivatives of the Ethereum-based Milady Maker profile picture (PFP) project, launched a bridge in partnership with marketplace Ordinals Market and the Xverse Bitcoin wallet. The BRC-721E token standard, as it’s called, enables the bridge to migrate artwork and data over to Bitcoin via Ordinals.
The bridge lets holders of Ethereum NFTs—defined by the ERC-721 token standard—effectively move the asset to the Bitcoin blockchain via a burn-and-mint process. The original Ethereum NFT is sent to an inaccessible “burn” address, which means it’s essentially destroyed on the chain, but then the asset is recreated on Bitcoin via the Ordinals protocol.
Bitcoin Miladys were initially minted on Ethereum, so the bridge was initially designed to let its holders bring them over to Bitcoin. But as the Ordinals Market page describes, the BRC-721E token standard and bridge can work with any compatible Ethereum NFT.