Bybit Web3 Redefines Crypto Landscape with Inscription Marketplace Feb 5, 2024 Feb 5, 2024 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsFebruary 5, 2024 by Kelly Cromley

Bybit Web3 Redefines Crypto Landscape with Inscription Marketplace

Bybit, ranked as the third-largest cryptocurrency exchange by volume globally, is gearing up to shape the future with the launch of an integrated inscription marketplace that supports both Bitcoin (BTC) and Ethereum Virtual Machine (EVM) ecosystems. This groundbreaking marketplace is set to empower users to mint and trade inscriptions on multi-chains, unlocking unprecedented possibilities for the global Web3 community.


Strategic Partnership with UniSat Strengthens Integration


In a strategic move, Bybit Web3 has formed a partnership with UniSat, laying the foundation for the integration of UniSat into its ecosystem. This collaboration sets the stage for a seamless connection to the inscription ecosystem through Bybit Web3, offering users and developers a comprehensive one-stop platform.


Riding the Wave of Ordinal Inscriptions


Amid a surge in interest surrounding ordinal inscriptions within the crypto community, where data like images, videos, and text are directly engraved onto the Bitcoin blockchain, Bybit Web3’s Inscription Marketplace emerges as a leader in facilitating a seamless experience for users to engage with the evolving Web3 landscape and the broader inscription ecosystem.


Connecting Web3 Wallet Users on a Global Scale


By integrating BRC and EVM inscriptions, Bybit Web3 aims to connect over 1 million Web3 wallet users to the existing 20 million users within the Bybit ecosystem. This ambitious partnership is designed to create an extensive network, fostering collaboration and inclusivity within the rapidly expanding Web3 community.


Phase 1: Bybit Web3 Adds BRC and EVM Inscriptions


On February 1st, Bybit Web3 welcomed BRC-20 and EVM inscriptions, including AVAX, Ethereum (IERC-20), Polygon, Fantom, and Mantle, into its Inscription Marketplace. Simultaneously, the platform consolidated liquidity from all inscription marketplaces across primary and secondary markets, positioning Bybit Web3 as the largest liquidity provider and ecosystem for the inscription economy.


Phase 2: Expanding Horizons through Bybit Web3


In the upcoming Phase 2, Bybit’s Inscription Marketplace is poised to expand further, incorporating ARC-20, BRC-420 Ordinals, Bitcoin NFTs, and more. Enthusiasts of inscriptions can effortlessly access and participate in various inscription marketplaces through a unified experience on a single page. This move signifies that all Web3 users can expect to conveniently access both BTC and EVM inscription assets from a single page, establishing Bybit Web3 as the ultimate destination for inscription assets and opportunities.


Ben Zhou, Co-founder & CEO of Bybit, conveyed the company’s commitment to enhancing user experience through the newly launched Bybit Inscription Marketplace. Zhou emphasized the goal of providing users with a one-stop gateway, simplifying the exploration and experimentation with inscription tokens. This commitment reflects Bybit’s dedication to streamlining the user journey, embracing a fair launch and equal access, and fostering innovation within the industry.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.