Bored Ape Owner Burns $169K NFT to Move It From Ethereum to Bitcoin The owner of BAYC #1626 burned the NFT, to symbolically shift its existence to Bitcoin. But Yuga Labs says it’s an illegitimate Ape. A valuable digital collectible was permanently removed from circulation over the weekend, as its owner aimed to symbolically shift the asset’s underlying blockchain from Ethereum to Bitcoin. The collectible was Bored Ape Yacht Club (BAYC) #1626, an Ape from the most valuable project in the NFT space. Its most recent sale on OpenSea took place last November when it sold for 108 Ethereum—that&#039;s nearly $432,000 at the time of the transaction, or around $169,000 at today&#039;s prices. NFTs are digital assets that are provably unique and signify the ownership of an item, often digital art. The ownership of BAYC #1626 is linked to a digital token that is recorded on the Ethereum network, where it could also be traded—that is, up until recently. Read More: <a rel="noreferrer nofollow noopener" href="https://decrypt.co/121298/bored-ape-owner-burns-169k-nft-ethereum-bitcoin" target="_blank">https://decrypt.co/121298/bored-ape-owner-burns-169k-nft-ethereum-bitcoin</a>