DIBA, the first Bitcoin NFT marketplace utilizing RGB smart contracts, has officially launched on mainnet. According to a press release sent to Bitcoin Magazine, the platform also introduces BitMask, an exclusive Bitcoin-only wallet capable of storing unique digital assets (UDAs) such as music and art. The UDAs will be hosted on high availability storage and cloud services provided by Hut 8, a publicly traded bitcoin miner in North America.
DIBA aims to bring 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, support the venture. Gideon Nweze, founder and CEO of DIBA, expressed his excitement about the launch, stating, “This marks a major milestone in the transition of the internet onto Bitcoin.”
Tim Draper also commended DIBA’s innovative approach, emphasizing 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 hold in capturing 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 support for the Bitcoin NFT platform, stating, “We are bullish on Bitcoin and the potential of Layer 1 and 2 protocols, and are proud to support DIBA’s Bitcoin NFT platform with high availability storage and cloud services.”
According to the press release, the DIBA marketplace utilizes both the RGB smart contract protocol on Bitcoin, as well as the Lightning Network to maximize the efficiency of the marketplace’s functions.