NFTs exist on Ethereum, and we want to "port" them to Stacks. To avoid duplicity, any mechanism that does this will necessary need to do two things:
- Burn the NFT on Ethereum, thereby rendering it un-transferable
- Instantiate the NFT on Stacks
This document sketches a "NFT bridge" system that allows a trusted intermediary to gather burned NFTs on Ethereum and instantiate them on Stacks. The intermediary can grant the NFTs to the original Ethereum owner by sending them to a Stacks address of their choosing (that they would specify as part of burning the NFT), or it can hold on to the newly-ported NFTs and auction them off.