NFT
DIBA, the first Bitcoin NFT marketplace to use RGB smart contracts, has officially launched on mainnet. According to a press release sent to Bitcoin Magazine, the platform is also introducing BitMask, an exclusive Bitcoin-only wallet that can store unique digital assets (UDAs) such as music and art. The UDAs are hosted on high-availability storage and cloud services provided by Hut 8, a publicly traded bitcoin miner based in North America.
DIBA aims to bring the Bitcoin utility to the masses by enabling the exchange of UDAs on a decentralized and censorship-resistant network. Notable bitcoin investors, including Tim Draper of Draper Associates and Bill Tai of ACTAI Unicorn Fund, are backing the venture. Gideon Nweze, Founder and CEO of DIBA, expressed his excitement for the launch, stating, “This marks an important milestone in the transition from the Internet to Bitcoin.”
Tim Draper also praised DIBA’s innovative approach and highlighted the potential of NFTs on Bitcoin. He said, “What Gideon and the team at DIBA have built is a testament to the potential NFTs on Bitcoin to capture the creative and sovereign spirit of this next generation.”
DIBA’s partnership with Hut 8 is another example of the optimism surrounding Bitcoin and Layer 1 and 2 protocols. Josh Rayner, VP of High Performance Computing at Hut 8, expressed his support for the Bitcoin NFT platform, stating, “We are optimistic about Bitcoin and the potential of Layer 1 and 2 protocols, and are proud to support DIBA’s Bitcoin NFT platform with high availability to support storage and cloud services.”
According to the press release, the DIBA marketplace uses both the RGB smart contract protocol on Bitcoin and the Lightning Network to maximize the efficiency of the marketplace’s features.