Bitcoin NFT marketplace Bioniq eyes lofty goal of alleviating network congestion

A brand-new Bitcoin nonfungible token (NFT) market aims to minimize network fees associated with the arrival of Bitcoin Ordinals inscriptions by tapping into the Internet Computer Protocol (ICP). Establishing a “devoted Bitcoin Ordinals marketplace, developed for Bitcoin users natively” hinges on establishing a native cross-chain, BTC-ICP wallet.In addition, Bitcoins undisputed position as the preeminent and largest cryptocurrency by market cap stays another drawcard for the ongoing interest in Bitcoin NFTs into the future.” If you look at the numbers, 89% of people in the world have actually heard about Bitcoin, Bitcoin accounts for around 50% of the total crypto market cap, and Ordinals have done over $500 million in volume this year– so there is massive need.

Bitcoin deal costs showed significant spikes in 2023 following the advent of Bitcoin Ordinals and BRC-20 tokens. The last action would see Bioniq becoming a Bitcoin zero-knowledge rollup (ZK-rollup) on the ICP with no additional trust presumptions, inheriting the full security and decentralization of Bitcoin.” Banking on Bitcoins worth propositionA number of NFT marketplaces already use Bitcoin Ordinals auctions and trading, which asks the question of what a solely Ordinals platform will bring to the environment. Developing a “dedicated Bitcoin Ordinals market, constructed for Bitcoin users natively” hinges on establishing a native cross-chain, BTC-ICP wallet.In addition, Bitcoins unchallenged position as the preeminent and largest cryptocurrency by market cap stays another drawcard for the ongoing interest in Bitcoin NFTs into the future.” If you look at the numbers, 89% of individuals in the world have actually heard about Bitcoin, Bitcoin accounts for around 50% of the total crypto market cap, and Ordinals have done over $500 million in volume this year– so there is huge demand.