In addition to Ethereum type currencies, this is the first platform in the world to provide the option of purchasing, selling, and trading NFTs using cryptocurrencies other than Ethereum type currencies. Unico offers means to acquire NFT using Bitcoin and Bitcoin Latinum, both of which are backed by patent pending technology.
This will offer up new options for anyone who wish to acquire digital artwork or collectibles, as well as allowing them to tap into the enormous liquidity that exists across the whole cryptocurrency market. It will also address some of the common issues associated with the use of the Ethereum blockchain, such as high transaction fees and slow transaction speeds.
Since its inception, Monsoon Blockchain, the blockchain development platform powering Bitcoin Latinum, has been attempting to disrupt the cryptocurrency market via the creation of novel technical solutions. It has teamed with Unico to develop a decentralised NFT marketplace named UnicoNFT, in an attempt to make strides in the newest NFT field. The UnicoNFT marketplace will be the first of its kind.
The marketplace offers a diverse selection of collections, auctions, and live events, as well as many popular categories such as entertainment, pop culture, gaming, influencers, and celebrities. Digital assets such as photographs, films, collectibles, and even land in virtual worlds are recorded and provenance is tracked using blockchain technology by non-financial institutions.
According to Decrypt, the NFT market generated 10.67 billion USD in transaction volume in the third quarter of 2021, eight times the amount generated in the previous quarter and eight times the amount generated in the third quarter of 2020.
Until now, NFTs have been tethered to the Ethereum blockchain; however, UnicoNFT is the first NFT marketplace to accept Bitcoin and Bitcoin Latinum for NFT transactions, therefore expanding the range of available alternatives and enabling anybody to participate in the NFT universe.
As Dr. Donald Basile (CEO of Monsoon Blockchain Corporation) stated in a statement, “we believe that NFTs represent the beginning of broad widespread adoption of blockchain by end consumers.” He went on to say that “we expect 5-10x the number of consumers currently involved in digital assets to adopt them over the next 24 months.”
BitCoin Latinum was created as an open-architecture cryptocurrency system that is capable of managing high transaction volumes, maintaining security, and providing digital asset management capabilities. Bitcoin Latinum is a cryptocurrency that was created by Monsoon Blockchain Corporation on behalf of the Bitcoin Latinum Foundation and is based on the Bitcoin ecosystem.
LTNM is a more environmentally friendly, quicker, and more secure variant of Bitcoin that has the potential to completely transform digital commerce.
LTNM, in contrast to other cryptocurrencies, is guaranteed and backed by both real-world and digital assets. Its asset backing is held in a fund format, resulting in a growth in the value of the underlying asset over time.
Because it reinvests 80 percent of the transaction fee back into the asset fund that backs the currency, it helps to accelerate the development of these asset-backed funds. As a result, the more the adoption of Bitcoin Latinum, the quicker its asset funds expand, resulting in the creation of a currency that is self-inflating.
It is currently traded on HitBTC (the fifth largest exchange by volume with $4 billion in daily transactions), FMFW.io (formerly Bitcoin.com Exchange and operating with $3.3 billion in daily transactions), AAX Exchange ($1.3 billion in daily transaction volume), LBank Exchange ($1.35 billion in daily transaction volume), Hotbit, and DigiFinex (all of which are based in Hong Kong).
According to Monsoon Blockchain, Bitcoin Latinum’s principal developer, the cryptocurrency will be officially listed on four additional exchanges by the end of 2021, including Bitmart ($1.6 billion in daily volume), Changelly, XT.com and Changelly Pro, among others, before the end of the year.
It was decided by Bitcoin Latinum to collaborate with Monsoon Blockchain Corporation, a forward-thinking blockchain business located out of Palo Alto, California, to serve as its foundation partner.
Aiming to provide cutting-edge cloud solutions in the blockchain ecosystem, Monsoon is leveraging the most recent blockchain technology to develop powerful business solutions that enable the successful digitization and listing of assets across a variety of industries such as financial services, telecommunications (including mobile), media and entertainment, and others.
Dr. Donald Basile, Monsoon’s CEO and creator, formerly served as the CEO of Fusion IO, a firm best recognised for its involvement in the implementation of cloud systems at companies like as Apple and Facebook, as well as relationships with companies such as HP, IBM, and Dell.