OnChainMonkey Spends Over $1 Million to Migrate NFTs to Bitcoin
In a move that underscores the momentum of Bitcoin Ordinals protocol ecosystem, the OnChainMonkey (OCM) project has committed to migrating its entire digital art collection from Ethereum to Bitcoin.
In total, moving the collection, which includes burning the old NFTs on Ethereum so they can no longer be traded, cost the project over $1 million in Bitcoin fees.
OnChainMonkey, created by Metagood, became the first profile picture collection created entirely on-chain in a single Ethereum transaction back in 2021. Further, it launched its first Ordinals collection inFebruary shortly after the Ordinals launch.