What is NFT bridging? Learn what an NFT bridge is and how to use it
What Is NFT Bridging?
For example:
Metaverses often have NFTs for sale on multiple blockchains.
You may have bought an NFT on the Ethereum blockchain that pays you a daily or weekly token, and the fees are expensive. The same NFT collection also works on the Binance blockchain.
It is cheaper to use the Binance network than the Ethereum one. You may decide to bride your Ethereum NFT over to the Binance chain as it is more affordable to cash out your weekly income from the NFT.
There Are Two Types Of NFT Bridges
2. Trustless bridges
Trusted bridges are operated by centralized platforms. These trusted bridges have a good reputation and are known third party operators.
Trustless bridges are run on decentralised platforms using smart contracts and algorithms.
Which Bridge Should I Use?
You will need to use a bridge that transfers your NFT from the blockchain it currently is on to your desired blockchain.
We are seeing more NFT collections build their own bridge to help send your NFT across chains.
What Is The Cost Of Bridging An NFT?
Is Bridging Your NFT Safe?
Can I Send An NFT to Another Wallet On The Same Network?
Yes! The OpenSea NFT marketplace has a built in feature to help you bridge some of your NFTs.
Some NFT wallets also have built in bridges.
Have a look through our entire NFT categories to learn more about NFTs.
Would you like to learn where to spend your cryptocurrency, or learn more about this fascinating topic? Visit us today at spendingcrypto.com
Author:
Jonathan Titley
Founder:
spendingcrypto.com
Co-founder:
https://fomomagazine.io
(NFT industry magazine and project reviews)
Co-founder:
https://nftave.io
(NFT marketplace and educational academy)
