Coinsilium Group Limited on a growth trajectory in crypto and blockchain space

 () said its subsidiary Nifty Labs has started development work on a new non-fungible token (NFT) project to create an ‘NFT on Bitcoin’ marketplace platform powered by the RSK blockchain, a smart contract platform secured by the Bitcoin network.

The blockchain and open finance venture firm said the development of the marketplace platform is expected to complete within six months, with the initial focus to be on NFT use-cases such as digital art, music, sports, gaming and metaverse assets.

The platform will incorporate various modules including an NFT minter, a gallery, and the capability to trade NFTs for alternative RSK-based tokens, the company said, adding that the platform will initially host the most popular NFT categories which currently include digital art, sports, music, gaming and metaverse assets such as parcels of virtual land and 3D avatars.

Coinsilium also said the RSK blockchain will prioritise token bridge build, enabling the transfer and movement of RSK blockchain standard NFTs to other blockchain standard NFTs, including Ethereum ERC721.