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Bitcoin Launches Its First Latin American NFT Marketplace -Breaking

by Mike Robinson

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© Reuters. Bitcoin launches its first Latin American NFT marketplace
    • Carnaval was the initial Latin American NFT marketplace to launch on the network.
    • At the Bitcoin 2022 conference, they will display 210 original artworks that were created using NFTs.
    • Bitcoin’s main protocol layer also enables smart contracts via its Taproot upgrade.

The Bitcoin network has welcomed its first Latin American NFT marketplace ‘Carnaval’, highlighting artworks of artists from the said region.

Carnaval announcement marks a significant milestone in the community. Carnaval, the NFT marketplace, is dedicated to Latin American artists. Second, NFTs are created on Rootstock’s Bitcoin network (RSK).

Additionally, the collective revealed it would launch Bitcoin Genesis Drop. The collection will include 210 artworks that were minted using NFTs. CoinQuora reports that Carnaval will offer these NFTs starting April 6, through 9, at the Bitcoin2022 conference in Miami.

Aside from securing the backend help of Rootstock’s Infrastructure Framework (RIF), Carnaval has also solicited the support of art museums and galleries. This will help to validate the authenticity of artworks sold as NFTs, and allow artists to reach wider audiences.

Theoretically, Bitcoin’s blockchain was created to pioneer a highly secure and decentralized financial system. However, it does not permit the creation of NFTs and smart contracts via its core blockchain layer. However, the creation of Carnaval’s NFT marketplace is possible due to Rootstock’s open-source platform for smart contracts and NFTs.

Bitcoin released its Taproot update in late 2021. This upgrade unlocks the ability to create smart contracts both on the main protocol layer and the Lightning Network. However, Bitcoin’s main network has yet to showcase this feature on a scale similar to prominent blockchain ecosystems like and Binance Smart Chain (BSC).

Continue reading on CoinQuora

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