What is NFT bridging? Learn what an NFT bridge is and how to use it

What Is NFT Bridging?

An NFT bridge helps you connect two different blockchains and transfer an NFT from one network to another.

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

1. Trusted 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?

NFT bridges are a new concept, and at the moment, there are limited bridges available. In time, we believe there will be easy-to-use bridges for all blockchains.

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?

It is very affordable. You literally have to pay a small fee or, simply pay the cost of gas for a transaction.

Is Bridging Your NFT Safe?

There is a small chance of a faulty smart contract, an error in code, and malicious attacks. We would always suggest sending a worthless NFT as a dummy run to see that the bridge is working.

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.

We hope you found this helpful, and we have created an NFT bridge resource directory where you will find NFT bridging platforms to help you transfer your NFT across networks.

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:
dewaymedia.com

Deway Media is a digital marketing agency for NFT and crypto businesses. We make your business go viral!

Jonathan Titley
Author: Jonathan Titley