Stroke of genius or simple waste? – This owner of a Bored Ape Yacht Club (BAYC) has decided to destroy the NFT on Ethereum (ETH), which is linked to the work, to register it on Bitcoin (BTC) thanks to Ordinals. Nevertheless, such a migration raises questions about the transfer, effective or not, of the license that is attached to the burned token.
BAYC’s Teleburn: Transfer an NFT from Ethereum to Bitcoin via Ordinals
In a tweet from February 10, Jason Williams indicated that he had burned forever the NFT on Ethereum linked to his Bored Ape Yacht Club #1626, named “The Blonde Don”to register it on Bitcoin through Ordinals.
To proceed with this destruction of the NFT on Ethereum and when he signed up for Bitcoin, Jason Williams used the feature Teleburnthat Rob Hamilton developed with the creator of Ordinals, Casey Rodamor.
According to Rob Hamilton, the Teleburn allows to withdraw a token “unidirectionally and permanently” of a network to do so “point to ordinal” correspondent on bitcoin. Casey Rodamor was the first to test this feature with his ENS domain rodarmor.eth. Subsequently, the duo accompanied Jason Williams in the Bored Ape Yacht Club burn #1626.
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BAYC #1626 on Bitcoin: a technical success, but licensing disputes
Jason Williams gloated over this Teleburn which he claims moved his NFT to Bitcoin. However, the founder of Yuga Labs, Greg SolanoTo handed over question the success of such a cross-chain move, believing that the Bored Ape Yacht Club #1626 no longer belongs to Jason Williams after this burn.
Greg Solano clarifies that the NFT has not “gone from ETH forever”, even though no one can access it since it was sent to an address with no owner. However, this burn is similar to “any other transfer”. And by doing it, Jason William would simply have surrendered his license.
In series of February 14 tweets, Jason Williams shared the Decrypt media article that reports these remarks from Greg Solano, while indicating that “BAYC article/founder is wrong”. The person concerned persists and signs. He would have full intellectual property rights to list his Bored Ape on Bitcoin and to Teleburn the asset.
Bored Ape Yacht Club’s most recent sale #1626 was in November. The transaction amounted to 108 ETH, or nearly $432,000 at the time and around $185,000 at the time of writing. Jason Williams does he really lost his license with this will Teleburn or Yuga Labs evolve their IP terms in the future, if the enthusiasm around NFTs on Bitcoin continues in the medium and long term?
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