NFT creators Metagood will soon migrate 10,000 of its OnChainMonkey NFTs from Ethereum to Bitcoin as new Ordinals inscriptions, says CEO Danny Yang. The firm will, however, need to fork out over $1 million to ensure the migration runs smoothly.
The team behind nonfungible token collection OnChainMonkey is shifting its entire collection of 10,000 NFTs from Ethereum to Bitcoin, in a massive undertaking expected to take several months.
The OnChainMonkeys were first launched in September 2021 on Ethereum, but Yang said the migration to Bitcoin Ordinals was due to its community seeing Bitcoin as offering a more secure platform for its users. The proposal to migrate to Bitcoin was passed by 99% of OnChainMonkey tokenholders. Yang said this means the community had a high conviction for moving to Bitcoin.
However, Yang says the migration shouldn’t be too challenging compared to what Metagood has already accomplished in the Bitcoin Ordinals space:
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