“One way trip” – Ethereum NFTs can be moved to Bitcoin, developers reveal ⋆ ZyCrypto

• Bitcoin Miladys is rolling out a “bridge” that allows Ethereum NFT users to migrate to the Bitcoin network through Ordinals.
• The process automatically destroys the original NFT on Ethereum when transferred, earning the tag “a one-way trip”
• The move sends BTC enthusiasts into a frenzy as they anticipate the benefits of having coveted Ethereum NFTs on their network.

Six months after launch and with over 10 million subscriptions, Ordinals is paving the way for top developers looking to integrate the Bitcoin (BTC) ecosystem with the cryptoverse.

The developers behind Bitcoin Miladys have announced the possibility for Ethereum non-fungible token (NFT) holders to transfer their assets to the Bitcoin Network. Still, there is a small caveat, the Ethereum copy is permanently destroyed.

The project was launched in partnership with the Xverse Bitcoin Wallet, and Ordinals Market utilizes a burn-and-mining process to move assets between both networks. The BRC-721E token standard bridge, as it is fondly called, sends the Ethereum NFTs to a burn address, making it completely inaccessible to the holder after it is destroyed. The token is then recreated on Bitcoin through Ordinals.

Multiple cross-chain bridges act as escrow platforms that hold user tokens even after minting secondary tokens on another network. If the user wishes to reclaim the primary asset in the future, the secondary asset is burned.

Although more beneficial to users, this deposit process is not compatible with the BRC-721E process as it is only a one-way trip. This process can lead to problems for NFT holders, including loss of assets if not implemented correctly. A similar problem arose earlier this year when a Bored Ape Yacht Club (BAYC) holder burned his NFT on Ethereum and tried to mint it on Bitcoin.

Earlier this year, there were endless debates about the tools of Ordinals to the Bitcoin Network. While many saw it as an opportunity to strengthen upward momentum, others believed that the network should be left as it was without “worthless symbols.”

Recent events may have proven doubters wrong, as users of BTC Ordinals have ignited forces even outside the network to create tools for expansion. The BRC-721E projects could swing millions into the Bitcoin ecosystem and put it in direct competition with Ethereum and Solana.

The project enabling immutable and verified Ethereum NFTs to Bitcoin has been described as “the turning point.” The project works with all Ethereum NFTs and is not limited to Miladys, according to the Ordinal Market site.