In a novel collaboration, Ethereum NFT project Azuki and multi-chain marketplace Magic Eden have launched the first dual-chain NFT product represented on both Bitcoin and Ethereum blockchains. This limited edition hoodie, inspired by Bitcoin’s creator Satoshi Nakamoto, merges physical and digital worlds.
The Azuki x Satoshi Nakamoto Enduro Hoodie, revealed last fall, is exclusively available to holders of Azuki’s “Spirits” NFTs, with only 98 pieces in existence. Each hoodie honors Bitcoin’s pseudonymous creator, Satoshi Nakamoto, and contains an embedded chip allowing owners to mint a corresponding NFT as proof of ownership and authenticity on Ethereum, along with an NFT-like Ordinals inscription on Bitcoin.
Utilizing Azuki’s Physical Backed Token (PBT) technology, the hoodies adhere to the Ethereum Improvement Proposal EIP-5791 standard. Ownership transfers require a signature from the embedded chip, providing “decentralized on-chain verification combined with off-chain ownership,” according to Azuki and Magic Eden.
“The ownership on ETH is still tied to immutable art on BTC,” Azuki and Magic Eden explained. This innovative concept aims to simplify collecting and trading artifacts, using the Ethereum Virtual Machine (EVM) for user-friendly programming while preserving the art on Bitcoin.
Azuki is a leading NFT property, boasting over $1.1 billion in trading volume for its original Ethereum collection, according to CryptoSlam. Magic Eden has also become a prominent NFT marketplace, significantly due to its early support for Bitcoin Ordinals and the recently launched Bitcoin Runes tokens.