DIBA Marketplace Launches Bitcoin-Only Wallet, Enabling NFT Trading

• DIBA, a marketplace for exchanging Bitcoin-based NFTs, went live on Thursday.
• It released a Bitcoin-only wallet in partnership with mining company Hut 8 Mining.
• It works on the “Really Good for Bitcoin” (RGB) smart contracts.

DIBA Marketplace Goes Live

DIBA, a new marketplace meant for exchanging Bitcoin-based NFTs, went live on Thursday, the firm said in an e-mail to CoinDesk. The platform allows users to trade any asset issued on layer 2 networks, such as Lightning Network and RGB protocol.

Partnership with Hut 8 Mining

In addition to the marketplace launch, DIBA released a Bitcoin-only wallet – which can store music files and art – in partnership with crypto miner Hut 8 Mining (HUT). The wallet is specially designed to reduce transaction fees and offer more privacy when trading tokens or assets on Bitcoin.

Investors Excited About Potential

The launch of DIBA has excited some of its investors who are already seeing potential of this marketplace for tokenizing assets on the Bitcoin network. Tim Draper who is one of the investors believes that this could lead to $10bn market cap over the next couple of years.

Frenzy Over Ordinals Protocol & BRC 20 Tokens

Recently there has been a frenzy around tokens and assets issued on Bitcoin through Ordinals Protocol and BRC-20 tokens however they were costly and less private due to high transaction fees associated with them.

Cheaper & More Private Transactions

By using RGB smart contracts built on layer 2 networks, DIBA looks forward to mitigating these issues by providing cheaper and more private transactions than before making it easier to issue tokens or art pieces on bitcoin blockchain efficiently without any delays or hefty charges.