"The format of the backup file is not valid"

Hey all, I recently spent a couple weeks downloading my entire state of Birdseye images. I then backed up that data to the hard drive, and named it "entirestate.backup" I moved that backup to another drive since I was replacing/upgrading the drive in that laptop. Once the new hard drive was installed, I installed basecamp again and attempted to restore that file. I just get an error that says "The format of the backup file is not valid"

Wondering if there is a fix, or if I need to start over? If I re-do it, I eventually would like to move the backup file to my NAS, so also wondering if there is a "right way" to go about all this?