The Rise of Bitmap Theory Pioneers the 'Bitcoin Metaverse'
The Bitmap Theory initiative has quickly gained momentum in pioneering the 'Bitcoin Metaverse.' The primary aim of the initiative is to integrate a digital world, often referred to as the metaverse, within the Bitcoin blockchain. Bitmap allows individuals to claim ownership of segments of the Bitcoin blockchain with the innovative use of Ordinal inscription technology. Currently, Bitmap commands a market capitalization close to USD 235 million, registering a massive increase of more than 5,500% in the last two months.
Bitcoin’s New Frontier Bitmap Collection on Magic Eden
The Bitmap collection on Magic Eden is currently second only to the Bitcoin Frogs series in trading volume in the non-fungible token (NFT) markets. 125.27 BTC, or USD 5.48 million, has been traded in Bitmap over the recent week, with the latest 24-hour volume showing about USD 34,370, according to data shared by coingecko.com.
Bitmap’s current exchange value stands at approximately 0.00680 BTC, or USD 296.71, with a market valuation reaching USD 235 million and even touching over USD 300 million on December 21, 2023. Bitmap Theory is an innovative open-source standard which is in its nascent stages, with a vision to morph Bitcoin blocks into integral parts of the metaverse.
The Bitmap Theory initiative allows participants to claim and inscribe ownership of Bitcoin blocks through Ordinals and Bitmap, heralding a decentralized method of embedding these blocks into a digital universe. Bitmap believers think that in its early stages, it embodies a pioneering strategy to leverage Bitcoin’s framework for a prospective ‘Bitcoin Metaverse.'
Bitmap Emerges to Take on Sandbox and Decentraland
Another initiative named Bitearth recently unveiled its mission to create “immutable augmented reality for Bitmap,” ensuring every Bitmap owner owns a designated slice of the earth. The website bitearth.io links to a map and has incorporated 3D Bitcoin-orange structures. Fundamentally, Bitmap is a Bitcoin-centric rival to metaverse platforms like Sandbox and Decentraland.
The USD 235 million market cap of Bitmap in the metaverse opens the gates for new challenges of innovation and speculation. The rapid strides and pioneering technology augur a bright future, but the volatile digital world and evolving blockchain landscapes are intriguingly uncertain, although with a theoretical yet potentially revolutionary horizon.
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