A new NFT marketplace dubbed DIBA has recently gone live, allowing users to trade Bitcoin-based NFTs. Through the platform, users can currently purchase and sell any digital assets issued on Bitcoin smart contracts on Layer-2 blockchains, such as Bitcoin's scaling solution Lightning Network. - Bitcoin-based digital assets have recently gained massive popularity, especially with Ordinals NFTs and the BRC-20 tokens.
- The traction in these assets even caused the daily transactions on the Bitcoin network to reach a new all-time high and the transaction fees to jump earlier in May, skyrocketing the inscription numbers.
- DIBA works on the Really Good for Bitcoin (RGB) smart contracts built on Layer-2 networks, while the assets like Ordinals NFTs and BRC-20 tokens directly built on the Bitcoin Layer-1 network.
- The RGB protocol simplifies issuing tokens, allowing for cheaper transactions.
- DIBA has also released a Bitcoin-only digital wallet in collaboration with crypto mining firm Hut 8 Mining.
- Ordinals are digital assets permanently attached to a satoshi, or 1/100,000,000 of a full Bitcoin (BTC).
- The rising popularity of Ordinals NFTs has also caused existing industry players, including Yuga Labs, Magic Eden, and OKX, to jump on the bandwagon by launching new Ordinals-specific platforms, services, and collections.
- In late February, Yuga Labs, the firm behind the famous Bored Ape Yacht Club (BAYC) and CryptoPunks NFTs, introduced its first-ever Ordinals NFT collection, TwelveFold, generating $16.5M from the auction of the collection within the first 24 hours.
- NFT marketplace Magic Eden also recently launched a new fully dedicated NFT marketplace and a creator launchpad for Ordinals NFTs.
- Seychelles-based crypto exchange OKX made a similar move by rolling out new features embracing Ordinals NFTs and BRC-20 tokens with a recent update.
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