Someone just destroyed a $169k NFT (voluntarily)
Woah, ok. This Bitcoin NFT thing is getting real!
A guy called Jason A. Williams (let's call him JAWs, for short) just destroyed his Bored Ape NFT.
...and it was a seriously valuable one to say the least ($169K)!
So why'd he do it?
Well, he destroyed the Ethereum based NFT, after making a copy of it on the Bitcoin network.
By doing so, he made the Bitcoin version unique.
This is a bold move.
By removing it from the Ethereum blockchain, he essentially gave up his right to use the intellectual property featured in the NFT (i.e. the ability to use its imagery for financial gain).
Plus, the Bitcoin NFT won't be able to gain access to any games, events, or communities run/created by Yuga Labs (makers of Bored Apes).
...so, what - he just shot himself in the foot?
Not exactly. Owning the 'first ever Bored Ape NFT to be uniquely minted on the Bitcoin network' has some prestige to it.
Our guess is JAWs has some degree of confidence that collectors will value that prestige in the future.
Or maybe he's just a rich degen, who's happy to take a loss, in order to make a 'first.'
The takeaway:
The more this sort of thing happens, the more it legitimizes Bitcoin NFTs.