Satoshibles, a Bitcoin themed NFT that celebrates the speculative image of Bitcoin’s founder, Satoshi Nakamoto, announced the creation of the very first NFT bridge between Ethereum and Bitcoin via Stacks. Satoshibles holders will be able to choose which blockchain their NFTs will live on with StacksBridge, a cross-chain transfer service that allows holders to port their NFTs between the two chains. The emergence of Bitcoin NFTs in the past six months has allowed for a new class of NFT holders and the creation of NFTs that possess the security benefits of Bitcoin.
As one of the largest Bitcoin-related NFTs currently on Ethereum, Satoshibles solidified its mission early on to allow its holders to trade or hold their NFT on Bitcoin via Stacks, a blockchain which brings smart contracts and apps to Bitcoin. StacksBridge is designed to:
- Let holders move NFTs to Stacks or back to Ethereum.
- Ensure NFTs are only active on one blockchain at a time.
- Allow liquidity locked on Ethereum NFTs to flow into the Stacks ecosystem.
- Drive demand for STX while increasing the number of active NFT holders.
- Encourage users to store their NFT on the world’s most secure blockchain.
“The main purpose of the bridge is to ultimately give control to the holder, allowing them to freely choose where they want to hold or trade their assets. We can benefit from the low fees on Stacks and build amazing utility there for our holders.” shared Brian Laughlan, the creator of Satoshibles. “This bridge is going to allow us to expand and diversify our community to accommodate both Bitcoiners and Ethereum enthusiasts.”
In order to connect between both bridges, users will need to login using both a MetaMask wallet for Ethereum and Hiro wallet for Stacks. To show that each NFT is active on a specific chain, when bridged over, Bitcoin Satoshibles will be marked with a Bitcoin watermark in the background instead of the default plain color background seen on Ethereum.
“As the first NFT collection ever to span across both Ethereum and Bitcoin, this is a remarkable milestone for Satoshibles that demonstrates how Stacks can deliver Bitcoins value to other ecosystems,” said Louise Ivan Payawal, Growth Lead at the Stacks Foundation. “I can see a future where NFT holders use the Bitcoin blockchain to secure their NFTs like a vault and bridge their NFTs over to Ethereum to access the metaverse and play in virtual lands like The Sandbox.”
After the initial launch period in January, StacksBridge will be open to all Satoshibles holders. Satoshibles anticipates that the project-agnostic service will eventually grow to allow other projects outside of Ethereum to use the service.
To learn more, follow Satoshibles on Twitter or join its Discord.
About Satoshibles
Satoshibles first launched on Ethereum as a Bitcoin themed collection of 5,000 algorithmically-generated crypto collectible NFTs in July 2021. Touted as the NFT for Bitcoin (BTC) enthusiasts, Satoshibles are based on the classic Satoshi Nakamoto meme and were created using 192 hand-illustrated attributes, spread over nine traits.
About Stacks
Secure smart contracts and apps for Bitcoin. The Stacks ecosystem is a collection of independent entities, developers, and community members working to build a user-owned internet on Bitcoin. The Stacks 2.0 blockchain extends the design of Bitcoin to enable secure apps and predictable Clarity smart contracts without modifying Bitcoin itself, opening innovation on the network for the first time. The Stacks cryptocurrency (STX) is used as fuel for networking activity and contract execution and can be locked by STX holders via ‘Stacking’ to earn Bitcoin (BTC) rewards for supporting blockchain consensus. Stacks cryptocurrency was distributed to the general public through the first-ever SEC qualified token offering in US history.