Major crypto exchange Bybit has announced the launch of an integrated inscription marketplace supporting both Bitcoin and Ethereum-based ecosystems. The new marketplace will allow users to seamlessly mint and trade inscriptions across multiple blockchains, breaking down barriers and unlocking new possibilities.
TLDR
- Bybit is launching an integrated marketplace for minting and trading Bitcoin and Ethereum-based inscriptions.
- The marketplace will support multi-chains to unlock possibilities for the Web3 community.
- Bybit has entered a partnership with UniSat for deployment of new inscription functionalities.
- Phase 1 added BRC and EVM inscriptions, Phase 2 will expand to more inscription types and consolidate liquidity.
- The marketplace aims to provide the most extensive array of inscription assets and opportunities as a one-stop shop.
Bybit aims to become the most comprehensive one-stop shop for engaging with the rapidly evolving world of blockchain-based inscriptions. The company is consolidating liquidity across primary and secondary markets to offer the largest palette of inscription assets.
Inscriptions encode data like images, videos, and text directly into blockchain transactions. By engraving the data immutably into say, the Bitcoin ledger, the inscribed content creates provably scarce digital collectibles.
Each inscription has a tag recording the network transaction associated with minting the inscription. This allows easily verifying authenticity and ownership later.
The recent crypto bear market has sparked surging interest in ordinal inscriptions on chains like Bitcoin as the community explores beyond fungible tokens into provable digital ownership records.
???? #Bybit Inscription Marketplace is Now LIVE!
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????Marketplace: https://t.co/WogHYBvQMQ#BybitWeb3 #InscriptionMarketplace #BRC20 pic.twitter.com/0Pt4LzAEPv
— Bybit (@Bybit_Official) February 5, 2024
To bolster its infra for multi-chain inscriptions, Bybit has entered into a strategic deal with UniSat. Bybit will soon integrate UniSat’s tech stack into its platform.
This will enable developers and users to access the unfolding inscription ecosystem with a single unified interface through Bybit. The exchange aims to funnel demand within its vast existing user base of over 20 million crypto enthusiasts to the Web3 inscription vertical.
Bybit’s new inscription marketplace is launching in two phases:
Phase 1 kicked off on Feb 1st by adding support for both BRC and EVM network inscriptions. This spans Bitcoin as well as Ethereum, Polygon, Avalanche, Fantom and multiple layer-1 ecosystems.
By consolidating liquidity across primary issuances and secondary trading, Bybit is positioning itself as the market leader in inscription trade volumes and token availability.
Phase 2 will see the marketplace expanding to include additional inscription categories like ARC-20, BRC-420 ordinal inscriptions and Bitcoin NFTs. Bybit aims to offer the most diverse catalog of inscription assets under one roof.
By bringing multiple isolated inscription marketplaces under one portal, Bybit allows enthusiasts easy discovery and access to niche inscription opportunities otherwise complex to track across fragmented sources.
Whether for collecting provably scarce collectibles or engaging with community coordination experiments, users can browse thousands of inscription assets stemming from various blockchain experiments.
As both inscriptions and Bybit march into the frontier Web3 landscape, the exchange’s new marketplace solidifies its position as the go-to platform for inclusive and simplified access to crypto’s bleeding edge.
