Everything is possible. Depends on how much you are willing to pay for such a solution. I'm also very fond of woocommerce, however I don't see it work together quite quickly in the future, because of the nature of both products.
Both are open source projects that are constantly maintained and adapted to an ever changing set of circumstances (server updates, php updates, wordpress updates, woocommerce updates, other plugin updates, deprecations, erpnext changes, etc...) so the chance of the "adapter" or "integration software" to be "up to date" all the time would be a nightmare to maintain. I'm not sure anybody would want to maintain this, especially not for free.
So yes it's possible, but unlikely to happen for free. You'd need a freelancer and then continuously update the integration software in order for everyting to keep working on every update.
Also, I don't think all woocommerce options are available in erpnext and vice versa. Too bad the website/webshop of erpnext is so "basic". It really needs to start supporting theming and make things more dynamic (e.g. auto-scaling product images) to make it look more attractive.
Still, I'm not complaining. Just expressing some thoughts.