What is Emblem Vault: Trading Bitcoin Ordinals NFTs on Ethereum

Wrapping Bitcoin Ordinals and other digital assets onto the Ethereum blockchain

Without a doubt Emblem Vault has become one of the premier destinations for those who want to trade Bitcoin Ordinals NFTs on the Ethereum blockchain. The platform not only supports Ordinals, but also embraces the much older Counterparty Protocol, or XCP. 

What is Emblem Vault?

Emblem Vault is an NFT marketplace allowing users to trade NFTs from 20+ different blockchains, including Namecoin and Bitcoin, across marketplaces on Ethereum, Polygon and BNB Chain. Technically, Emblem Vault wraps a native asset into an ERC-721 wrapper, allowing the NFT to be traded on marketplaces.

What blockchains does Emblem Vault support? 

Emblem Vault hosts its NFTs on Ethereum, Polygon and BNB Chain. However, the Emblem Vault platform wraps assets from a total of 20+ blockchains, which include Bitcoin Ordinals, Bitcoin XCP assets, Namecoin assets, Tezos, Dogecoin, and so on. 

What are the key features? 

Through Emblem Vault, users can first vault their assets as an Ethereum NFT, and then list the new NFT on one of the many marketplaces. Buyers can then later unlock the NFT, and bring it back to the original blockchain. You will need COVAL tokens in order to wrap assets as ERC-721 NFTs on Ethereum, Polygon and BNB Chain. 

How to bring a Bitcoin NFT to Ethereum? 

The process of moving a Bitcoin Ordinals NFT to the Ethereum blockchain is not without risks, and therefore you should do your own research before attempting to do so. The Emblem Vault team wrote a very detailed step-by-step guide, and this is just a simplified summary of that.

1. You will need an empty Emblem Vault NFT, and make sure that it’s public. You can also make a new Vault.
2. You will need to supply an image for your NFT, so ideally you would pick the one that’s the same as your original NFT.
3. Now press “Create Vault”. 
4. Click your Vault.
5. Click the type of blockchain you’re bridging your NFT from, for example for a Bitcoin Ordinals you will need to select “Taproot”.
6. After that you will need to connect your Bitcoin wallet.
7. And then transfer the Bitcoin Ordinals to your NFT by pasting the Vault wallet address.
8. That supplying the name, creating the transaction, finalizing the transaction by signing it, and pressing “Sign”. 
9. After pressing “Broadcast Transaction” and some waiting time, you can verify and cross reference your newly filled Emblem Vault NFT. 

How to trade Emblem Vault NFTs? 

Emblem Vault NFTs are ERC-721 assets, meaning that they are supported by every NFT marketplace that offers Ethereum, Polygon or BNB Chain assets. You can trade Emblem Vault NFTs on marketplaces such as OpenSea, Blur and any other marketplace. 

How to verify Bitcoin Ordinals inside Emblem Vault NFTs? 

This guide is a summary; the complete step-by-step guide to verify a Bitcoin Ordinals NFT can be found on the Emblem Vault Pro blog. 

• Make sure you’re dealing with the real Emblem Vault NFT collection, as listed on DappRadar. 
• Through Ordinals Explorer you can find the address associated with the Ordinals NFT. 
• Go to the Emblem Vault website by pressing the “more info” button on OpenSea, and scroll down to select “Taproot” 
• You need to make sure that the Bitcoin addresses mentioned on Ordinals.com and in the Emblem Vault match. 

NOTE: Taproot support launched on February 23rd, 2023. Prior to this date any vaulted Ordinal was sent to the “BTC/XCP/OMNI” address inside of any Emblem Vault. Read more here.

Does Emblem Vault have a crypto token? 

Yes, Emblem Vault has the COVAL token, which users need to acquire in order to open a vault. Users need 250 COVAL per vault. 

Where to find Emblem Vault on DappRadar?

You can find Emblem Vault on DappRadar. The product page offers metrics about general dapp activity, which would include wrapping and unwrapping of NFTs, and trading them, for example. At the same time, the NFT tab provides more details about NFT trading activity for Emblem Vault. 

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• Source: https://dappradar.com/blog/what-is-emblem-vault-trading-bitcoin-ordinals-nfts-ethereum