decrypt.co
The Azuki x Satoshi Nakamoto Enduro Hoodie, first revealed last fall, was created exclusively for holders of Azuki's "Spirits" NFTs—so there are just 98 pieces in total. The hoodies serve as a tribute to Bitcoin's pseudonymous creator Satoshi Nakamoto.
Each hoodie contains an embedded chip that allows owners to scan it and mint a corresponding $NFT as proof of ownership and authenticity on Ethereum—but also an $NFT-like Ordinals inscription on Bitcoin.
The hoodies utilize Azuki’s own Physical Backed Token (PBT) technology per the Ethereum Improvement Proposal EIP-5791 standard. Ownership transfers require a signature from the physical chip embedded in each hoodie, creating what Azuki calls “decentralized on-chain verification combined with off-chain ownership."
pic.twitter.com/p0mgJXY3yi
— Azuki (@Azuki) October 31, 2023
“The ownership on ETH is still 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 enshrined on $BTC.”
Azuki is one of the most prominent $NFT properties, with more than $1.1 billion to date worth of trading volume for its original Ethereum collection alone, per CryptoSlam.
Magic Eden has been the leading $NFT marketplace by trading volume in recent months, thanks in part to its early bet on Bitcoin Ordinals. The marketplace also supports the recently launched Bitcoin Runes tokens.
Editor’s note: This article was written with the assistance of AI. Edited and fact-checked by Andrew Hayward.