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Home ยป Inception Capital: Why Did We Invest in Unisat?
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Inception Capital: Why Did We Invest in Unisat?

By adminMay. 17, 2024No Comments2 Mins Read
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Inception Capital: Why Did We Invest in Unisat?
Inception Capital: Why Did We Invest in Unisat?
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UniSat is the preferred platform for Bitcoin inscriptions and runes. Designed specifically for the Bitcoin ecosystem, this platform and wallet, accessible via mobile and browser extensions, make it easy to manage Bitcoin-based assets such as Ordinals, BRC20, Runes, and Atomicals (ARC20) tokens. Users can store, mint, and transfer these assets directly in their browser without the need to run a node, simplifying interaction with emerging Bitcoin assets.

The wallet offers various innovative features, including instant engraving of Ordinals NFTs and runes, real-time viewing of unconfirmed NFTs in the mempool, and a marketplace for trading these assets. Additionally, UniSat prioritizes security by not storing private keys on its servers.

In essence, UniSat is one of the best existing solutions for ordinary people to directly interact with the thriving Bitcoin asset ecosystem.

Since 2009, the emergence of the Ordinals protocol has led to the fastest growth in new Bitcoin network transactions, with BRC20 dominating the majority of these transactions. However, direct interaction with Ordinals and BRC20 requires technical knowledge that most people do not possess.

UniSat changes this situation. Over the past few months, they have released a full suite of products, including the wallet in February, Inscribe in March, and the marketplace and rune support in April. This team knows how to build products that users want.

Since its launch, UniSat Inscribe has created over 50% of the inscriptions, and over 80% of BRC20 is traded on the UniSat marketplace.

In Bitcoin history, for the first time, there is a real opportunity to profit by mining Bitcoin through transaction fees rather than relying solely on fixed block rewards. This is primarily driven by consumer interest in trading Bitcoin’s native tokens.

After the recent Bitcoin halving and the launch of Runes, Bitcoin’s daily transaction volume reached its peak, surpassing 900,000 transactions per day, and the transaction fee share of Runes even surpassed BTC within a few days.

On May 8th, the total fee per block temporarily exceeded block subsidy rewards for the first time since 2017.

The growth momentum of inscriptions and runes activities instills hope for the future of Bitcoin. To sustain Bitcoin’s security budget, there must be a way to increase transaction fees to offset the decrease in block subsidy income after each halving. Currently, inscriptions and runes are the primary means of increasing transaction fees, and platforms that facilitate these transactions, such as UniSat, are crucial for fostering interaction.

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