Magic Eden Launches a New Marketplace for Bitcoin NFTs

Cryptos: 21,330
Exchanges: 1,863
Market Cap: $3.42T 0.43%
24h Vol: $295,155,274,944 55.39%
Dominance: BTC: 63.1% ETH: 9.0%
Gas: 1 GWEI

Connect

Crypto News NFTs

Magic Eden Rolls Out "Fully Audited" Marketplace for Bitcoin Ordinals

Written by Gile K.,

Market Sentiment Analyst

Last Updated: March 22, 2023

Ace quick missions & earn crypto rewards while gaining real-world Web3 skills. Participate Now ! 🔥

Magic Eden Rolls Out "Fully Audited" Marketplace for Bitcoin Ordinals

BITDEGREE IN YOUR SOCIAL FEED

The leading NFT Marketplace on Solana, Magic Eden, continues its multichain march by launching a dedicated marketplace for Bitcoin Ordinals.

The Bitcoin Ordinals marketplace is "fully audited" and will allow users to buy and sell Bitcoin non-fungible tokens (NFTs) with the same ease as they trade Solana or Polygon digital collectibles.

Eden Magic’s new marketplace has added support for Hiro and Xverse, two Bitcoin wallets that support BTC Ordinals. The wallet support will allow Magic Eden Bitcoin Ordinal marketplace users to buy and hold any NFTs on the Bitcoin network.

What is a Liquidity Pool in Crypto? (Animated)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

The Ordinals protocol allows anyone to imprint media and text on the Bitcoin blockchain. While less than two months old, the protocol has created over 500,000 inscriptions.

In its announcement, Magic Eden revealed that the Bitcoin NFT marketplace was "built within a month" during a "hackathon in California with over a dozen devs." On top of that, the company added:

We are starting on this journey by creating a Bitcoin marketplace that showcases the purest form of collectibles, ones that are truly immutable and that will exist on satoshis forever. Our aim is to empower creators and collectors, providing them with the tools and infrastructure they need to succeed.

Magic Eden will include 13 collections for the beta launch, including Inscribed Pepes, Bitcoin Bandits, and Taproot Wizards. According to Zhuoxun Yin, COO and co-founder of Magic Eden, these collections were chosen since they were amongst the earliest to launch.

The initial rollout of the marketplace will only allow secondary sales of Bitcoin Ordinals NFTs. However, Eden Magic is planning to launch minting capabilities in the near future. The feature is already available through its Launchpad for the other supported blockchain networks.

Before the announcement, Magic Eden already supported Polygon and Solana-based NFTs while also supporting all Ethereum-based NFTs.

Besides Magic Eden, the Gamma.io NFT platform recently added support for Bitcoin NFTs.