Magic Eden Launches Bitcoin NFT Marketplace
Two months after the launch of the Ordinals project, Bitcoin NFTs continue to see increased adoption. Currently, there are over 568,000 inscriptions as more popular NFT projects jump on the Bitcoin chain to mint their unique collections. Now to aid with listing, purchasing, and selling these Ordinal NFTs, Magic Eden has launched a Bitcoin NFT marketplace.
In a recent announcement, the leading NFT marketplace noted that it has integrated with Hiro and Xverse, two popular Bitcoin wallets, to allow traders to list, purchase, and sell Bitcoin-based NFTs. Magic Eden is based on Solana; however, lately, the marketplace has been expanding its operations to cover other chains such as Ethereum, Polygon, and now Bitcoin.
Commenting on the launch, Jack Lu, cofounder and CEO of Magic Eden, notes, “On Bitcoin, all media that is uploaded onto the chain cannot be changed or removed. This simplicity is embraced by many creators who want to create true collectibles that are inscribed on the chain.”
To help onboard as many users as possible on the Bitcoin NFT marketplace, Magic Eden has teamed up with a few popular projects that have already inscribed their NFTs on Bitcoin. These include inscribed pepes, Taproot Wizards, and Bitcoin Bandits.
Magic Eden Is Focused On Onboarding As Many Users As Possible
Onboarding users to this marketplace appears to be the main focus of Magic Eden for now. It’s a message that is echoed by Zhuoxun Yin, cofounder of Magic Eden. Speaking to the press, he notes, “There’s a lot of high-value items that are being inscribed or created on the bitcoin chain, and for a very, very burgeoning NFT ecosystem, it’s been super exciting to see.”
He goes on to add that “at Magic Eden, we’re working on a lot of cross-chain things anyway, and we felt like this was a really cool adjacent ecosystem for us to tackle.”
Users on the new marketplace can expect to see helpful information on listed collectibles, such as the rarity and inscription numbers. By launching this product, Magic Eden follows in the footsteps of Gamma.io, which on Monday released its own marketplace for minting and trading Bitcoin NFTs.
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