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OnChainMonkey Genesis series NFT will be migrated to the Bitcoin chain, and the migration cost is expected to exceed US$1 million

NFT project OnChainMonkey's development company Metagood plans to migrate all 10,000 NFTs from the OCM Genesis series from the Ethereum chain to the Bitcoin chain. OnChainMonkeys was originally launched on the Ethereum chain in September 2021. Metagood co-founder and CEO Danny Yang said the decision to migrate the series of NFTs was because the community believed that the Bitcoin Ordinals protocol was better designed for decentralization and security than the Ethereum NFT protocol. OCM DAO has voted in favor of the proposal to move the OCM Genesis series NFTs to the Bitcoin chain on Block 9 sats, with a support rate of 99%. However, the cost of migration is high, and Metagood expects to spend over $1 million to ensure a smooth migration process. NFTPrice Floor data shows that the NFT floor price for OnChainMonkey on the Ethereum chain is currently 1.0739 ETH. (Cointelegraph) Earlier, NFT project OnChainMonkey announced in February of this year that it had joined the Ordinals protocol to launch "Inscription" on the Bitcoin blockchain, and its 10,000 NFT series had all been put on the chain.

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