Quick take:
- Bybit also announced it will integrate the Ordinals project UniSat.
- The crypto exchange company wants to connect developers to the inscriptions ecosystem through a one-stop platform.
- The Bybit Web3 Inscription Marketplace aims to connect over 1 million Web3 wallet users to the existing 20 million users within the Bybit ecosystem.
Bybit has launched the Bybit Web3 Inscription Marketplace. The crypto exchange platform said the new marketplace will support both the Bitcoin and Ethereum Virtual Machine (EVM) ecosystems.
The marketplace also plans to integrate the Ordinals project UniSat as it looks to connect developers to the inscriptions ecosystem through a one-stop platform. Users will be able to mint and trade inscriptions including images, videos, and text on multiple blockchains.
According to the announcement, Bybit Web3 aims to connect over 1 million Web3 wallet users to the existing 20 million users within the Bybit ecosystem, creating an extensive network that fosters collaboration and inclusivity in the Web3 community.
Commenting on the announcement, Ben Zhou, Co-founder & CEO of Bybit said the launch of Bybit Inscriptions Marketpace is part of his company’s commitment to enhancing user experience.
“We hope to provide users with a one-stop gateway through the Bybit Inscription Marketplace, facilitating the exploration and experimentation with inscription tokens and enjoying their dividends to support industry development. The simplified process aims to make the overall user experience more straightforward and enjoyable,” said Zhou.
Last week, Bybit expanded its BRC-20 and EVM inscriptions ecosystem with the addition of AVAX, Ethereum (IERC-20), Polygon, Fantom, and Mantle. The company also announced it will consolidate liquidity from all inscription marketplaces across primary and secondary markets, making Bybit Web3 the largest liquidity provider in the inscription economy.
The Bybit Inscription Marketplace will move to the second phase of its expansion with the ARC-20, BRC-420 Ordinals, and Bitcoin NFTs. This will enable inscription enthusiasts to access and participate in various inscription marketplaces through a simple, unified experience on a single page.
This announcement comes at a time when the Bitcoin ecosystem is gaining popularity amid the surge in interest for Ordinals Inscriptions. Since the first Ordinal Inscriptions debuted in February 2023, the segment has recorded over $1.94 billion in transaction volume, and more than 1.8 million in trades, according to a Dune Analytics dashboard by Domo.
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