Nfts
Azuki ‘Satoshi Nakamoto’ Hoodie Tokenized on Bitcoin and Ethereum
Ethereum NFT project Azuki and multi-chain marketplace Magic Eden have teamed up to create what they call the first dual-chain marketplace NFT product that exists both on the Bitcoin and Ethereum blockchains, a limited-edition hoodie inspired by the creator of Bitcoin, represented by an NFT on both chains.
The Azuki x Satoshi Nakamoto Enduro Hoodie, first revealed last fall, was created exclusively for Azuki “Spirits” NFT holders, so there are only 98 pieces in total. Hoodies pay homage to Satoshi Nakamoto, pseudonymous creator of Bitcoin.
Each hoodie contains an embedded chip that allows owners to scan it and create a corresponding NFT as proof of ownership and authenticity on Ethereum, but also a Registration of NFT type ordinals on Bitcoin.
The hoodies use Azuki’s PBT (Physical Backed Token) technology, in compliance with the Ethereum Improvement Proposal EIP-5791 standard. Ownership transfers require a signature of the physical chip embedded in each hoodie, creating what Azuki calls “decentralized on-chain verification combined with off-chain ownership.”
“ETH ownership is always tied to immutable art on BTC,” Azuki and Magic Eden noted in a statement. “The concept was built around the desire to collect and trade artifacts in a user-friendly way, which led to programming on EVM while keeping the art listed on BTC.”
Azuki is one of the most prominent NFT properties, with over $1.1 billion in trading volume to date for its original Ethereum collection alone, per CryptoSlam.
Magic Eden has been the top NFT marketplace in terms of trading volume in recent months, thanks in part to his first bet on Bitcoin Ordinals. The market too supports the recently launched Bitcoin Runes tokens.
Editor’s note: This article was written with the help of AI. Edited and verified by Andrew Hayward.