3 mins readOnChainMonkey is a collection. It's full of non-fungible tokens (NFTs). NFTs are like unique digital pets.
The collection has ten thousand NFTs. Today, they live on Ethereum. Ethereum is a digital home for NFTs. But soon, they will move. Their new home will be Bitcoin. This move will be big! It will take months to finish. The OnChainMonkey team will work hard. The team proposed this move. Nearly all tokenholders agreed.
List of OnChainMonkey NFTs currently traded on OpenSea
Why Move to Bitcoin?
Meet Danny Yang. He is the big boss of Metagood. Metagood runs OnChainMonkey. Danny told us why they are moving. Bitcoin is like a safer playground. That’s what the community thinks. Danny agrees with them.
He says, Bitcoin has better rules for safety. Also, it's good for spreading control. He thinks it's better than Ethereum. High-value NFTs will shine on Bitcoin.
The moving process is tricky. But there is a clear plan. New OnChainMonkeys will have Bitcoin homes. The old Ethereum homes will be burned. Once burned, they get a Bitcoin ticket. Moving isn’t cheap. Metagood has to spend a lot. Over one million dollars to be smooth!
Achievements in Bitcoin Space
Danny thinks the move won’t be too tough. They have done harder things. Metagood has made big steps at Bitcoin. They were the first to do many things. They put ten thousand pictures on Bitcoin. Launched a big family of collections named OCM Dimensions 300.
Wrote many recursive inscriptions on Bitcoin. Added libraries like Three.js and p5.js on Bitcoin, for everyone to use. They are like pioneers at Bitcoin. Their experience will help in this move. Let’s wish them good luck!
Yet, Ethereum Still Rules NFT Market
Even with the migration, Ethereum stays on top. The NFT market is its kingdom. Ethereum settled $236.8 million in NFTs recently.
Who is the second in line? It's Solana. It managed $37.7 million. Bitcoin is lagging behind. It stands in the sixth position with $11.1 million only. We know these facts from CryptoSlam.
Regardless, Danny Yang is not worried. He's calm about Bitcoin's NFT world. He thinks it’s just a matter of waiting. A tough Bitcoin-native NFT system is coming soon. Danny thinks that Bitcoin and Ethereum can both be successful. Each can have a thriving NFT ecosystem.
What about OnChainMonkey NFTs? They are still trading. The average price is 1.10 Ether (ETH). The overall trade volume is over 2,550 ETH. They have sold 9,500 items since they began.
They started on NFT marketplace OpenSea in September 2021. Who owns these NFTs? There are 2,900 owners. And of these, 31% are unique owners. These are the facts from OpenSea.
Final Thoughts
Moving the NFT collection is a big deal. OnChainMonkey is moving from Ethereum to Bitcoin. It's an important event in the NFT world. Ethereum is the king right now. But the move shows a change.
There is growing interest in Bitcoin. Bitcoin is becoming an attractive platform for NFTs. The move will take several months. It is going to be exciting. We are waiting to see what happens next. Can Bitcoin rise and compete with Ethereum? Only time will tell.
