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On Thursday, DIBA, a fresh marketplace dedicated to trading Bitcoin-based NFTs, officially launched, as stated in an email sent to CoinDesk.
The marketplace enables users to trade any asset created on Bitcoin smart contracts on layer 2 networks, like the Lightning Network. Additionally, DIBA has collaborated with crypto miner Hut 8 Mining (HUT) to launch a Bitcoin-exclusive wallet capable of storing music files and artwork.
In recent times, there has been a surge of new participants in the realm of Bitcoin-based tokens and assets, each introducing unique features to entice users. Among them, the Ordinals Protocol and BRC-20 tokens gained significant attention, as developers began issuing tokens or art on the Bitcoin blockchain, resulting in exorbitant transaction fees.
Nonetheless, DIBA operates on the "Really Good for Bitcoin" (RGB) smart contracts, specifically designed for layer 2 networks. DIBA co-founder Gideon Nweze explained in a statement that the RGB protocol enables more affordable and confidential transactions, simplifying the process of token issuance on the Bitcoin blockchain.
Nweze further highlighted that leveraging RGB could potentially alleviate the issue of high fees on the Bitcoin network.
Prominent venture capitalists like Tim Draper view the marketplace as strongly positioned for a broader surge in assets based on Bitcoin, according to certain DIBA investors.
“The bull case for Bitcoin assets is in the ballpark of $10bn market cap over the next couple of years,” Draper said in a prepared statement. “What Gideon and the team at DIBA have built is a testament to the potential NFTs on Bitcoin.”
Source Coindesk
