📶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.

BTCBot Leads the Way: Introducing the First Bid Feature for Bitcoin NFTsbtcbot