📶Bid Ordinal NFTs
In recent years, Ethereum has dominated NFT issuance, but since Ordinals' launch in January 2023, Bitcoin-based NFTs have seen growth. Despite this expansion, BTC NFT transactions lack maturity, primarily relying on direct purchases at market prices on platforms like OKX Web3 or MagicEden, without a bidding system for limit orders.
This limitation presents challenges: collectors can't control acquisition costs without a bidding option; traders need to constantly watch the market for buy/sell opportunities, making it hard to capitalize on arbitrage; and market makers struggle with setting continuous bids due to constant price changes.
To advance the BTC NFT market and facilitate arbitrage, introducing a bid function is essential. BTCBot has pioneered this with a Bid feature, allowing users to set bid prices and quantities for NFTs, enabling automatic purchases at set price points. For more information, please see the article below.
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